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The evolution and future of the BRICS: Unbundling politics from economics
Institution:1. Craig School of Business, California State University, Fresno, CA 93740, USA;2. Technological University of Zhejiang, Hangzhou, Zhejiang Province 310006, China;3. College of Business, Florida International University, Miami, FL 33199, USA;4. Huizenga College of Business & Entrepreneurship, Nova Southeastern University, Fort Lauderdale, FL 33314, USA;5. The City College and the Graduate Center of the City University of New York, New York, NY 10016, USA;1. Nova Southeastern University, Department of Finance, College of Business and Entrepreneurship, Fort Lauderdale, FL 33314, United States;2. Florida International University, Department of Finance, College of Business Administration, Miami, FL 33199, United States;1. Hertie School of Governance, Berlin, Germany;2. Research Department, Inter-American Development Bank, Washington, DC, USA;1. The Institute of Policy Analysis, Rutgers University, United States;2. Texas A & M University — Commerce, United States;3. California State University, Fullerton, United States;1. Department of Finance and Accounting, University of Tunis El Manar, B.P. 248, C.P. 2092, Tunis Cedex, Tunisia;2. Department of Finance and Investment, College of Economics and Administrative Sciences, Al Imam Mohammad Ibn Saud Islamic University (IMSIU), P.O Box 5701, Riyadh, Saudi Arabia;3. Lebow College of Business, Drexel University, Philadelphia, United States;4. Energy and Sustainable Development, Montpellier Business School, Montpellier, France;5. Department of Business Administration, PNU School of Business, Pusan National University, Busan 609-735, Republic of Korea;1. St. John''s University, Queens, NY, United States;2. Marshall Management Services, Long Island, NY, United States;1. Department of Finance, National Sun Yat-sen University, 70 Lienhai Rd., Kaohsiung 80424, Taiwan, ROC;2. Department of Accounting and Information Technology, National Chung Cheng University, 168 University Road, Minhsiung Township, Chiayi County 62102, Taiwan, ROC;3. Department of Accounting and Information Technology, National Chung Cheng University, 168 University Road, Minhsiung Township, Chiayi County 62102, Taiwan, ROC;4. Department of Finance and Business Law, California State University, Fresno, 5245 N. Backer Ave., Fresno, CA 93740, USA
Abstract:Under the current global forces, economics muddled with politics is exerting undue pressures on the BRICS countries and is challenging the sustainability of their accord. Unanticipated problems are increasingly inhibiting economic and social prosperity. This paper analyzes the current difficulties that the BRICS are facing, scrutinizes their unique individual economic and political environments, and ventures to anticipate their prospects. Our consensus is that the future prosperity of these countries depends not only on their individual political and economic environments, but also on the major global powers. Furthermore, the current inevitable interconnectivity of politics and economics provides foresight into their future role on the world stage.
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