The Political Economy of Global Business: the Case of the BRICs

Abstract

Gaining greater knowledge of the characteristics of large firms that dominate the global economy is an inherently important endeavour. Brazil, Russia, India and China (the BRIC economies) have gained influence in the global economy and this is reflected in the increasing weight of their companies in Fortune Global 500 rankings. Uneven access to data and information makes understanding the strategy, structure, ownership and performance of large business an ambitious programme of research. The BRIC economies are different from each other and this is also true as far as the heights of their respective business worlds are considered. But they also share some crucial features: concentrated ownership, with governments and families at the helm, diversification and internationalisation.

Determinants of reverse marketing knowledge transfer potential from emerging market subsidiaries to multinational enterprises’ headquarters

“…However, location of the EM subsidiary with fast growing, large and lucrative markets can strengthen its internal position. For example, increasingly subsidiaries located in BRICS (Brazil, Russia, India, China and South Africa) are becoming central to global strategy of MNEs because of their size, importance, constant growth, as well as their increased global influence at policy level (Goldstein, 2013). Therefore, we propose that Proposition 5: Internal embeddedness of the EM subsidiary marketing influences RKT, where internally embedded units have more potential for RKT.…”

The paradox of poverty in rich ecosystems: impoverishment and development in the Amazon of Brazil and Bolivia

“…Sustained rates of economic development – for example, by the BRICS countries in the last decade – have not been enough to guarantee the amelioration of the living conditions of a large proportion of the low‐income population (Gaiha et al . ; Goldstein ; Power ). Particularly in a situation of uneven access to resources, rigid social institutions and a highly asymmetric balance of power, the process of development leaves some groups, often the majority of the inhabitants, clearly behind those who are in control of the economy and the apparatus of the state.…”

Digital BRICS: building a NWICO 2.0?

“…The US and Europe are to initiate a 'Transatlantic Trade and Investment Partnership', to further integrate trade and investment structures and policies to counter such groupings as BRICS, an indication of the changing global power equations (Gilboy and Heginbotham, 2012;Goldstein, 2013;Sidhu, Mehta and Jones, 2013;Narlikar, 2013;Johnston, 2013;Acharya, 2014) As Chin and Thakur suggest, 'The multilateral order cannot hold if the power and influence embedded in international institutions is significantly misaligned with the real distribution of power' (Chin and Thakur, 2010:119). However, the BRICS nations remain divided on crucial policy issues, as noted above in relation to internet governance.…”