>BRIC is an acronym for the developing nations of Brazil, Russia, India, and China - countries believed to be the future dominant suppliers of manufactured goods, services, and raw materials by 2050.

As of 2010, South Africa joined the group, which is now referred to as BRICS.

BRICS countries were originally projected to be the fastest-growing market economies by Jim O'Neill of Goldman Sachs in 2001. The Goldman Sachs thesis does not argue that these countries are a political alliance, like the European Union (EU), or a formal trading association. Instead, it asserts they have power as an economic bloc.

BRICS countries have not announced formal trade agreements, but leaders regularly attend summits together and often act in concert with one another's interests. It has been postulated that by 2050 these economies would be wealthier than most of the current major economic powers.

China and India are projected to become the world's dominant suppliers of manufactured goods and services, respectively, while Brazil and Russia will become similarly dominant as suppliers of raw materials.

In 1990, BRICS countries accounted for 11% of global gross domestic product (GDP). By 2014, this figure rose to nearly 30%. These figures include a high in 2010, following a plunge in value, surrounding the 2008 financial crisis.

Critics argue that the nations' raw materials are not limitless and the growth models ignore the finite nature of fossil fuels, uranium, and other critical and heavily used resources.

Many companies cite BRICS nations as a source of foreign expansion or foreign direct investment (FDI) opportunities. Foreign business expansion happens in countries with promising economies in which to invest and as these nations are increasingly important in international business you are asked to do the following:

Start your investigation of these economies by reading the case study “Foreign Direct Investment in Retailing in India” (page 223 in the 12>span class="s2"> Edition of your textbook) and the PDF article “Brics to Be Considered?” from the International Organization Research Journal, Vol. 11. No 2 (2016).

Adding at least two more peer reviewed articles to your knowledge base, provide a comprehensive description of >span class="s2"> and political climate for business in each of >span class="s2">ations and identify reasons why the BRICS countries are growing in importance on the international stage.

Also, describe the internal and external forces that may influence organizational success as it relates to these countries.  End by answering the following question: If you have only enough money to invest in one of these nations, which one would it be and why?

Remember, good papers include concepts learned to date!  You can self-evaluate using the Chalk & Wire Grading Rubric provided.