(August 17, 2012 at 4:55 pm)Chuck Wrote: BRIC refers to Brazil, Russia, India and China. The term was coined by Goldman Saches and refers to the 4 developing nations commonly regarded as having the greatest potential to become very rich and powerful in the next 50 years.
I think Russia is a very awkward fit in this club, and will likely not only fail to gain much in relative status and wealth in the next 50 years, but will instead decay into a chronic sick man of Europe with a chronically exaggerated notion of its own strength and importance like Czarist Russia was at the turn of 1900.
So I think the real emergent economies that would reorder the world would be BIC, without Russia.
Sorry I was a bit dense there yes I think you are right. but I think India has huge problems with corruption that could well inhibit its growth.
