The rise of the BRICS and their challenge to the G7

Abstract

Purpose

This paper attempts to assess the economic growth prospects of the BRICS countries and their potential ability to challenge and overtake the G7 countries. Specifically, the purpose of this paper is to answer the following question: Do the BRICS represent a tangible economic threat to surpass the G7, and if so, how?

Design/methodology/approach

The authors adopt a qualitative research method based on secondary data sources, such as journal publications, reports published by international organizations, and newspaper and magazine articles. Data from these different sources is compiled and presented in tabular form to provide logical support to the arguments.

Findings

Based on the data analysis, the authors conclude that the BRICS have the potential to overtake the G7 in the long run. However, this objective is not likely to be as easy as presumed by economists, since a number of factors and uncertainties may deter the growing economic power and influence of the BRICS.

Originality/value

At present, there is hardly any study or research in the available literature that compares these two blocs of countries. Hence, this comparative study will contribute significantly toward the advancement of future comparative economic studies.

Citation

Mostafa, G. and Mahmood, M. (2015), "The rise of the BRICS and their challenge to the G7", International Journal of Emerging Markets, Vol. 10 No. 1, pp. 156-170. https://doi.org/10.1108/IJOEM-07-2012-0063