A Role-Playing Exercise
In this activity, we will mirror a career-related scenario. We will put you in a role-playing exercise in which you play a specific role as directed. The steps of this role-playing have applications in many different fields, and, as such, it may be useful for your career beyond just this assignment. In addition to learning about global and regional economies, you will build career-enhancing skills in this activity.
For this assignment, indicate two possible countries that could be the next “BRICS,” and compare and contrast the two candidate countries. Your analysis should include the following for each country:
A short profile of the country (location, major industries, economic standing) (min. 50 words)
Why you think they may break out like the BRIC countries, with at least two pieces of evidence (min. 150 words)
After presenting each country as outlined above, your report should also include a short comparison of the two countries.
You may discuss differences and commonalities between the countries (current BRICs and the two new ones you indicate as the new countries emerging in the global economy): shared values (if any), their economics, political structure, domestic challenges, including social inequality, political instability, and demographic pressures, and expectation for pursuing regional cooperations among them. You could also discuss the perspectives for trade relations with the United States, as the world’s largest economy and a central pillar of global capitalism (min 150 words).
Cite all sources, including the textbook. Use APA style and include both in-text citations and a Works Cited list at the end. The entire essay-report must be at least 600 words. Place your word count at the end of the paper.
The original BRIC acronym was first coined in a 2001 paper by Jim O’Neill, a Goldman Sachs economist, which analyzed the emergence of Brazil, Russia, India, and China as economic powerhouses. This acronym took a life of its own when the BRIC nations’ leaders agreed to hold regular summits starting in 2009 to discuss a broad range of issues. In late 2010, the BRIC countries invited South Africa to join the group in recognition of that country’s natural resources and as a gateway into the African continent. Over the last decade, the BRIC, now BRICS, has symbolized the growing power of the world’s largest emerging economies (semi-peripheral countries) and their potential impact on the global and regional economies. All five BRICS countries collectively represent about 26 percent of the world’s geographic area and 40 percent of the world’s population. The five nations combined hold less than 15 percent voting rights in both the World Bank and the International Monetary Fund (IMF). Yet, their economies are predicted to surpass the G7 economies in size by 2032.
In this role-playing, you are a new member of the Goldman Sachs New Analyst Program (this is a real-world, competitive program(Here is the link, (Links to an external site.)in case you are interested in the program). Your manager requested you to write an essay-report. The essay will be your first deliverable product as a Goldman Sachs New Analyst. As a new analyst, you have to elaborate an essay-report in which you indicate two possible countries that could be the next “BRICS,” as instructed above. After a kick-off meeting with all the new participants of the program, you had a great idea: getting advice on better elaborating the essay from participants of the program in previous editions. One of the previous participants provided some tips including using multiple reliable references and gave you the report “BRICS and the World Order: A Beginner’s Guide,” suggesting that you use it as a start point for your own report. The idea of seeking advice was a smart move because you also had the opportunity to build your professional network within the firm. And by interacting with more experienced colleagues across areas, you may connect with people who can help guide your career. Your boss is excited to receive your essay, which will be edited as part of a new report Goldman Sachs will release soon.