| Publication |
2014.
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| Summary/Abstract |
In 2003, the investment firm Goldman Sachs predicted that, within less than 40 years, the economies of the so-called "BRIC" nations- Brazil, Russia, India, and China-could together exceed the output of America, Japan, Britain, Germany, France, and Italy combined, in US dollar terms. Since then, considerable hype has surrounded the BRIC phenomenon. Growth projections vary, and disputes have erupted between those claiming that the emerging markets will remain the powerhouses of the world and others pointing to a recent economic slowdown even in these countries. Arguments continue even about the category itself. Were the original BRIC countries right to expand their grouping to South Africa (creating the current BRICS)? Does Russia really deserve to be in it?
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