The rule of law: a challenge for the emerging markets in Mexico and Brazil

Abstract

The new global order has been reshaped in recent times. New actors are emerging from different part of Asia, Latin America and Eastern Europe, even if the president of the United States, Donald Trump, tries to contain this trend. The emerging economies continue their expansion and some analysts predict that they will overtake G7 economies by 2027. However, the main question raised in this text is not whether the BRIC’s countries and emerging countries will surpass developed countries; rather, the emerging countries will be able to create strong institutions and ensure the rule of law, reduce social inequalities and guarantee a sustainable development for a long period, taking advantage of the economic growth that they are living. This text will be focused on analyzing the need to create, maintain, and promote the rule of law in emerging countries, emphasizing the case of Brazil and Mexico, as these countries are in a decisive moment to determine their future.