Will BRIC overshadow EU and USA?

Will BRIC overshadow EU and USA?
Jul 2, 2009 05:10
LEONARDO Points: Join Date: May 21, 2007 Status: offline	On June 16, the first BRIC Summit was held in Yekaterinburg. When the summit was on, the term Golden BRIC(brick) dominated the Chinese newspapers’ headlines. Actually, BRIC summit has been in the international spotlight. The term BRIC （s）is the acronym of Brazil, Russia, India and China. It is a term in economics which was first coined by Goldman Sachs in 2001. Goldman seems to have enough confidence that the BRICs’ economies will overshadow the combined economies of the current economic powers (EU, USA and Japan) by 2050. As we know, these four countries have the most fast-growing economies in the world, and generally are oversize in land area, population and raw materials. They shared some things in common. Well, could they really develop fast enough to eclipse the combined economies of the current major rich countries in 2050? China is my home country and surly I know it quite well. The GDP growth is unparallel elsewhere. I have no doubt that it will become an economic power by 2050. Well, I haven’t been to any of the other three countries. So I don’t know much about these three countries due to the fact I didn’t interact with any folks from their countries. My knowledge of these 3 countries and their ordinary peoples’ lives is only through Media (newspapers, TVs, and movies etc.). After watching the movie Slumdog Millionaire, I became curious about India’ situation. India seems to have many problems in terms of social and economic development. Is the situation about Mumbai described in the movie true? If that is true, I think it will be a big hindrance for India’s economic development. Russia’s economy is recovering from its recession after Soviet Union collapsed. Brazil is in a remote continent, which is far from China. So I have little detailed knowledge of this country. Have you been to these 3 countries? Do you think if they will become big economic powers by 2050? Will the BRIC overshadow EU and USA? If so, how soon?

Jul 2, 2009 05:10

LEONARDO
Points:
Join Date: May 21, 2007
Status: offline

On June 16, the first BRIC Summit was held in Yekaterinburg. When the summit was on, the term Golden BRIC(brick) dominated the Chinese newspapers’ headlines. Actually, BRIC summit has been in the international spotlight. The term BRIC （s）is the acronym of Brazil, Russia, India and China. It is a term in economics which was first coined by Goldman Sachs in 2001. Goldman seems to have enough confidence that the BRICs’ economies will overshadow the combined economies of the current economic powers (EU, USA and Japan) by 2050.

As we know, these four countries have the most fast-growing economies in the world, and generally are oversize in land area, population and raw materials. They shared some things in common. Well, could they really develop fast enough to eclipse the combined economies of the current major rich countries in 2050?

China is my home country and surly I know it quite well. The GDP growth is unparallel elsewhere. I have no doubt that it will become an economic power by 2050. Well, I haven’t been to any of the other three countries. So I don’t know much about these three countries due to the fact I didn’t interact with any folks from their countries. My knowledge of these 3 countries and their ordinary peoples’ lives is only through Media (newspapers, TVs, and movies etc.). After watching the movie Slumdog Millionaire, I became curious about India’ situation. India seems to have many problems in terms of social and economic development. Is the situation about Mumbai described in the movie true? If that is true, I think it will be a big hindrance for India’s economic development. Russia’s economy is recovering from its recession after Soviet Union collapsed. Brazil is in a remote continent, which is far from China. So I have little detailed knowledge of this country. Have you been to these 3 countries? Do you think if they will become big economic powers by 2050? Will the BRIC overshadow EU and USA? If so, how soon?

Jul 6, 2009 05:00	#1
GUESTINDIANS	India’s economy has been one of the best players of global economics in recent years. Its growth had been supported by markets reforms, huge inflows of FDI, rising foreign exchange reserves, both an IT and real estate boom, and a flourishing capital market. I have great confidence in India's economy.

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