With the tallying of a gross domestic product as well as services and goods being offered, it has become easier to distinguish between developing or developed countries. Haseeb and Hassan (2017) observe that through advanced technology, most countries in the world have become more aggressive in ensuring that they have enough resources to sustain its people. With emerging economies as well as financial surplus, the next BRICs countries are Argentina and Kenya, gauging from their location, the reasons for them being the next BRICs, and their economic and financial comparisons.
Analysis of Argentina; Location, Major Industries, Economic Standing
Argentina is a diverse country that is situated at the Southern part of South America. The country is the largest globally, and second in the list in South America. Besides, Argentina is one-third in size like the United States and borders the Andes hills as well as Western Chile.
The hospitality industry, under food processing, is one of the industries in Argentina, which are influenced by rich fertile soils. Besides, it has a vast material in agriculture as well as the energy used in the department of the industry in the country. Other industries include textile, oil, electronics as well as economic development for sustainable.
Position of Argentina in Breaking out as BRICS
Argentina is a potential member of the BRICS and has associated with some of the countries making BRICS like China (Shahbaz et al., 2016).Even though it defaulted financially since 2001, the Argentine Government has been positive about its development and growth. Argentina feels more secure since it has received sufficient support from China, which is one of the BRICS countries. Besides, Argentina is highly regarded by most of the European countries since its origins are from Europe. For instance, six million French men, three million Germans, as well as millions of individuals from Italy, descended from Argentina. Besides, the BRICS plus China have a proposition of developing Argentina agriculturally, through its manufacturing companies and advancing its technology or infrastructure ( Taylor, 2017). According to the Chinese, this technique works in Africa, parts of Asia and the Latin American states. Even though most superpowers have neglected Argentina, China has invested its resources towards helping the country with growth and development of its vast potential.
Analysis of Kenya; Location, Major Industries, Economic Standing
Located in Eastern Africa, Kenya is the 47h country worldwide in terms of population. It has a coastline that stretches for over to the Indian Ocean. Given that it invests in mining, tourism and agriculture, there is a larger production of platinum, oil, chemicals as well as foodstuffs.
Position of Kenya in Breaking out as BRICs
With the sustainability in growth, development as well as advanced Kenya the country is anticipated to be included as one of the BRICS in future. The economic stability of Kenya is described as having developed and at the same time, having emerging markets in the world. Over twenty years after apartheid, Kenya is now defined as one of the primary wealthiest countries in Africa. In as much its economy is growing, Kenya experiences challenges undergrowth and development in terms of the structures.
Given that mining and agriculture are the core economic platforms, they have helped people secure more employment opportunities, and influenced the decision of the government to reduce the unemployment rates by up to 15% ( Nyasha, 2017). Besides, the healthcare systems are advanced, triggering educational backgrounds to be of high quality as well. Kenya also has a highly advanced stock exchange rates, communications platform, a stable financial level and transport sectors that have contributed to its growth and development.
Moreover, the country has a responsibility in the BRICS position of promoting legal policies that will govern Africa’s economic growth and stability through exploring on several resources offered by the continent. For instance, Kenya has successfully hosted several tourist attractions, with the Great Wild beast Immigration being an exemplaryone that starts from Serengeti National Park which is located in Tanzania, to the great Maasai Mara in Kenya. During this period, Kenya receives more tourists from July to October, who show interest in adventuring and exploring more of the activities. Also, Kenya has made ties with the Chinese government, and it has created a rapport that has sustained the growth and its economic stability.
Comparison of Argentina and Kenya in BRICS Platform
From the above discussions, Kenya and Argentina shares ties with China(Mariara, 2020). However, the costs of living in Kenya is higher compared to Argentina, since accountability on the agricultural produce has been low. Also, Argentina needs to improve on its trust with the rest of BRICS countries, since the incident of 2001 made people view it negatively.
In summary, both Argentina and Kenya have been influenced economically, politically and socially, through their government policies. Moreover, economic stability influences the interactions of people globally, especially through internal market platforms. Governments of different countries should emphasize on the accountability of any developmental projects so that it is easier to consider a country of interest before investments.
Haseeb, M., Hassan, S., & Azam, M. (2017). Rural–urban transformation, energy consumption, economic growth, and CO2 emissions using STRIPAT model for BRICS countries. Environmental Progress & Sustainable Energy, 36(2), 523-531.
Mariara, J. K., & Kiriti, T. W. (2020). Structural adjustment, poverty and economic growth: An analysis for Kenya (Doctoral dissertation, AERC).
Nyasha, S., & Odhiambo, N. M. (2017). Banks, stock market development and economic growth in Kenya: An empirical investigation. Journal of African Business, 18(1), 1-23.
Shahbaz, M., Rasool, G., Ahmed, K., & Mahalik, M. K. (2016). Considering the effect of biomass energy consumption on economic growth: fresh evidence from BRICS region. Renewable and Sustainable Energy Reviews, 60, 1442-1450.
Taylor, A., & Bonner, M. D. (2017). Policing Economic Growth: Mining, Protest, and State Discourse in Peru and Argentina.
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