Until recently, I didn’t know what the BRIC was. Now, because I spend so much time researching topics about China, I often run into the BRIC.
The BRIC is Brazil, Russia, India and China. In the next few decades, these countries could become the wealthiest nations on the globe alongside America.
Jim O’Neill, who works for Goldman Sachs, talks about the BRIC in the embedded video.
In fact, O’Neill is the one who thought up the acronym for BRIC.
When he stepped into his position at Goldman Sacs, he wanted to know how the world might change economically by 2050.
They discovered that China would become the world’s largest economy before 2050 possibly reaching 45 trillion dollars–twenty times larger than today, and the rest of the BRIC economies would have a much larger share of the global economy too.
Projections also show that India, Russia and Brazil would become larger than the current G7 bypassing Canada, France, Germany, Italy, Japan and the United Kingdom.
Only the US would remain in the top five.
If you are a doubter, consider that the BRIC economies are already having a huge influence on the world, and the potential growth of the middle class in the BRICs could explode four hundred percent in the next decade, which would increase demand for cars, energy and oil.
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Lloyd Lofthouse is the award-winning author of the concubine saga, My Splendid Concubine & Our Hart. When you love a Chinese woman, you marry her family and culture too.
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