Blog Network

About The Bloggers


From BRICs to Brussia?

The so-called BRICs economies -- Brazil, Russia, India and China -- have been touted by investors as a new source of market dynamism for at least the past five years now, but to look at the business pages most days you'd think the acronym could be shortened to "IC." Perhaps it should be the other way around. Seeking Alpha points out that the Indian and Chinese economies have actually faced significant declines in the past 6 months while Brazil and Russia are on the up and up. Microsoft CEO Steve Ballmer echoes the sentiment in an op-ed for the Wall Street Journal Europe today, praising Eastern Europe's economic potential (as long as it boosts protection for intellectual property, of course).

While global law firms don't react quite so quickly to market trends, they do eventually set up shop where their most lucrative clients want them to be. Shanghai and Beijing continue to attract top firms, and the gravitational pull of India (which remains closed to foreign firms) has helped beef up international firm offices nearby in Singapore. Moscow, flush with oil money, is full of big firms hungry for more lawyers. But it has taken a bit longer for the Southern Hemisphere to attract attention. Now Sao Paulo is starting to flash on big firm radars. Chadbourne & Parke just announced it is looking to open in Brazil later this year. Skadden has plans for a Sao Paulo office too, marking its first venture in South America. Is it the first step in a long march across the continent for ever-expanding global firms, or a temporary blip as firms look to diversify their portfolios in uncertain economic times?   

Posted by John Bringardner on June 5, 2008 at 06:59 PM | Permalink | Comments (0)


About ALM  |  About  |  Customer Support  |  Privacy Policy  |  Terms & Conditions