Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia formed the Eurasian Economic Union (EEU) with the aim of fostering closer economic cooperation among member states for the well-being of the people of the region. This paper critically analyses the history and evolution of the EEU as well as its success, challenges and prospects. Despite numerous attempts and initiatives, the EEU's actions have hardly achieved any significant success because most of its goals have either been declarative in nature or politically motivated and not taken seriously. Russian domination, influence, control and pressure may also be reasons for lack of progress and success. Long, bitter historical memories and distrust among the member states also made the integration process difficult. The article concludes that this latest attempt at integration in the former USSR region seems to be in trouble and may result in failure because of deteriorating economic conditions in Russia, the crisis facing the ruble, Russia's continuous conflict with Ukraine and distrust among the member states.

The term Eurasia is a contentious and illusive one and there is no consensus or agreement among authors on its meanings, implications and ramifications. President Nursultan Nazarbayev of the Republic of Kazakhstan introduced and developed his own vision, policies, perceptions and values of Eurasianism which he has been propagating and practicing on a continuous and consistent basis. In fact, the concept of Eurasianism and Eurasian policies have turned into state ideologies which are reflected in domestic, regional and foreign policies as well as in the foundation of the recent regional integration process. The purpose of the article is: to study and review the genesis of the old, popular as well as contemporary schools and thoughts of Eurasianism, their underlying goals, objectives and purposes in order to locate and understand Kazakhstan's views and concepts of Eurasianism in a broad historical and comparative perspectives; to review and critically analyze how President Nazarbayev's visions and policies of Eurasianism are reflected in the country's domestic, regional and foreign policies and what are their implications.

Purpose – This paper attempts to assess the economic growth prospects of the BRICS countries and their potential ability to challenge and overtake the G7 countries. Specifically, the purpose of this paper is to answer the following question: Do the BRICS represent a tangible economic threat to surpass the G7, and if so, how? Design/methodology/approach – The authors adopt a qualitative research method based on secondary data sources, such as journal publications, reports published by international organizations, and newspaper and magazine articles. Data from these different sources is compiled and presented in tabular form to provide logical support to the arguments. Findings – Based on the data analysis, the authors conclude that the BRICS have the potential to overtake the G7 in the long run. However, this objective is not likely to be as easy as presumed by economists, since a number of factors and uncertainties may deter the growing economic power and influence of the BRICS. Originality/value – At present, there is hardly any study or research in the available literature that compares these two blocs of countries. Hence, this comparative study will contribute significantly toward the advancement of future comparative economic studies.

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