The BRIC Economy


What is the B.R.I.C Economy?
It is the term used to describe the four developing countries (Brazil, Russia, India,
China) that many renowned experts believe will become some of the worlds top economic super powers over the next few decade

Why do experts believe this?
In recent years these countries have all changed their political systems to embrace global capitalism. They all have very high natural resources and some of the largest populations in the world.

Who came up with the acronym BRIC?
It was first used in a 2001 report by Goldman Sachs, the world famous holdings bank, which said by 2050 the combined economies of the BRICs could eclipse the combined economies of the current richest countries of the world.

Below are two tables, the first is a representation of the top 15 GDP (gross domestic product) for 2007 and the second is the estimated GDP for 2050

2007
Rank  
Country  
 GDP (millions of USD)  
1
10 United States
 13,811,200
2
9 Japan
 4,376,705
3
13 Germany
 3,297,233
4
17 China
 3,280,053
5
11 United Kingdom
 2,727,806
6
14 France
 2,562,288
7
4 Italy
 2,107,481
8
8 Spain
 1,429,226
9
15 Canada
 1,326,376
10
5 Brazil
 1,314,170
11
16 Russia
 1,291,011
12
7 India
 1,170,968
13
6 South Korea
 969,795
14
18 Mexico
 893,364
15
12 Australia
 821,716

2050
Rank  
Country  
 GDP (millions of USD)  
1
17 China
 70,710,000
2
11 United States
 38,514,000
3
7 India
 37,668,000
4
4 Brazil
 11,366,000
5
18 Mexico
 9,340,000
6
16 Russia
 8,580,000
7
10 Indonesia
 7,010,000
8
9 Japan
 6,677,000
9
12 United Kingdom
 5,133,000
10
14 Germany
 5,024,000
11
8 Nigeria
 4,640,000
12
15 France
 4,592,000
13
5 South Korea
 4,083,000
14
13 Turkey
 3,943,000
15
6 Vietnam
 3,607,000

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