Chapter 6. The BRIC Economies

If you haven't already come across this relatively new and trendy word, BRIC is an acronym for Brazil, Russia, India and China. Rather conveniently, it is also a pun on the word brick, which conveys solidity, sturdiness and stability. It was first coined in 2003 in a report published by Goldman Sachs, a former investment bank, turned bank holding company. The report proposed that these four BRIC countries would become substantial players in the global economy by 2050, rivalling today's dominant economies. The following chart illustrates the projected growth from 2000 to 2050 in five year intervals. G6 countries are defined as being France, Germany, Italy, Japan, UK and US. The chart indicates that sometime between ...

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