Empirics of BRICS foreign direct investment inflows versus G7 foreign direct investment inflows
Keywords:
Intrigues, Generic, Dominance, Agriculture, Foreign Direct Investment, Gravitational Pull.Abstract
Even when the G7 has dominated the world in terms of FDI inflows to their domestic economies for over two centuries now, unwinding dynamics of global social, political and economic developments in the wake of the 21st Century, is creating alternative forces to this dominance. One of such forces is the assertive group of five third world countries comprising Brazil, Russia, India, China and South Africa who volunteered and formed a strong trans-regional economic bloc named BRICS (which is an acronym of the first letters of the five countries). Though the BRICS is putting a strong performance in Foreign Direct Investment (FDI) attraction, the G7 still slightly leads the world, where the former is placed second. With this impressive performance in less than twenty years of the formation of BRICS, the march towards displacing the G7 as the leading global FDI gravitational pull looks unstoppable, when the former also venture into aggressive agricultural production. For agriculture it is the currency which the G7 is holding unto for maintaining comparative advantage over BRICS. The slightly low performance of the BRICS in the area of FDI attraction when compared with that of the G7, forms the motivation for this study. The study is a qualitative one where document studies were adopted and utilized in generating data from secondary sources such as academic journals, bulletins, textbooks, scholarly papers, and internet materials. The data generated was analyzed through critical discourse method.
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