CHAPTER 13

Impact of Global Growth—BRICS and the “Next 11”

Economically and socially, emerging markets are powerful regional economic forces with large populations, significant natural resources, and large markets.

The growth of emerging-markets is reshaping the global economy, according to a McKinsey and Company report (2010). The realignment could result in traditional Western economies with a lower share of global GDP in 2050 than they had in 1700. The reasons behind the shift are the changes in demography which have driven such transformations in the past—more workers, smaller families in urban environments, creating more disposable income. People are moving off subsistence farms to cities in great numbers—nearly a million and a half each ...

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