Who are the key players in the world economy?

Traditional economic powers like France, USA or the UK are becoming less and less dominant in an evermore competitive internatinal economic arena.

The BRIC countries (Brazil, Russia, India and China), play a much more important role in what is produced and consumed on a daily basis and will hence shape the future of the global business environment. 

With rising incomes, and growing populations, not only will every sector of the economy, from commodities to luxury goods, be affected. Everything, from supply to the environmental conditions will be altered by these new competitors, and previous key players will have to modify their approaches to trade if they are to remain important and to suceed.

JA
Answered by Jesus A. Business Studies tutor

12248 Views

See similar Business Studies A Level tutors

Related Business Studies A Level answers

All answers ▸

What is the difference between a strategy and a tactic?


What is the structure of a 25 mark question and how should I go about answering it?


Analyse three benefi ts of Boojum Limited operating as a private limited company. (10)


Outline a factor that has led to globalisation


We're here to help

contact us iconContact ustelephone icon+44 (0) 203 773 6020
Facebook logoInstagram logoLinkedIn logo

MyTutor is part of the IXL family of brands:

© 2026 by IXL Learning