I need help creating a thesis and an outline on The Progress of Countries in Recent Years. Prepare this assignment according to the guidelines found in the APA Style Guide. An abstract is required. The fact about many economists from the time of Jim O’Neil referred these economies as BRIC and as the potential largest economies that the world is going to witness in its near future of approximately 10 years has been in discussion all around the world. This statement received its first worldwide acceptance when the GDP of the world economy increased by 50%, in which the contribution of these four countries was a maximum of 14.6% in recent years (Rozhnov, 2010).
Naturally, the world economy thereby needs a reorganization of the business norms ethics to stand unaffected by this new wave. Certainly, for the UK economy some might take it lightly, for its strong financial structure but to put into account any economy irrespective of the fact to be developing or developed is largely affected by domestic and other countries. This was well proved in the year 1997 when Thailand, a very small country and under-developed economy, could shuffle the entire globe just by devaluating its currency. Therefore, in this very unpredictable world of economies, if the UK is taking the BRIC to be effectively strong, it probably should have certain underlying reasons (Josephs, 1999).
An economy, in general, can be better understood by the PEST analysis as it covers both SWOT and McKinsey’s 7s model. Hence to clarify the present position of the UK economy a PEST analysis shall be appropriate.
Political factors always had an immense influence on the economy. In regard to the context, UK’s present political reforms also had a history of random fluctuations until it gained stability in the late ‘90s. The political environment seems to be well organized and planned with an independent judiciary, pressure groups, and trade unions, and freedom of information legislation. One of the major events in UK politics was the tittle-tattle about the expenses of Parliament Members in May 2009, which led to the formation of the Liberal Democrat in May .2010. .