This PIBR volume examines a number of idiosyncratic elements in the internationalization strategies of BRIC MNEs and, in particular, in their relationship with home country policies: 1. The theoretical challenge: do we need different or more specific theories of EMNEs to assess the phenomenon of BRIC multinationals? 2. The empirical challenge: what marks the changing position of BRIC countries in the world economy? 3. The managerial challenge: with the coming of age of a new breed of multinationals, what distinguishes BRIC multinationals from other (emerging market) multinationals? 4. The policy making challenge: what impact have MNEs from BRIC countries had on their domestic economy?