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BRICs at 8

Strong Through  the Crisis, Outpacing Forecasts

The fact of the matter is, close to three billion people around the world, which is half of the world's population, haven't really been touched by this crisis in the way that most people talk about.  

- Jim O'Neill, Head of Global Economics, Commodities and Strategy Research

The BRICs markets – Brazil, Russia, India and China – have weathered the global economic crisis remarkably well, emerging stronger than before. They are on pace to equal the G7 in size by 2032, seven years earlier than originally predicted. View a December 2009 interview with Jim O’Neill, Head of Global Economics, Commodities and Strategy Research, discussing the latest research.

 

The Long-Term Outlook for the BRICs and N-11 Post Crisis

It is now around eight years since we first introduced the BRIC acronym, and six years since we first estimated how the world might look in 2050. Of course, like the rest of the world, the BRICs have faced a severe crisis in the past two years. This paper assesses where we now see the BRIC economies post crisis, and shows that, if anything, their current health suggests that our long-term projections are more, rather than less, likely to be realized.
 

Read the Research [PDF, 246 KB]

BRICs by the Numbers*

• It is now possible that China could become as big as the US by 2027 - in less than 18 years.

• The BRICs could become as big as the G7 by 2032, about seven years earlier than we originally believed possible.

• Between 2000 and 2008, the BRICs contributed almost 30% to global growth in US Dollar terms, compared with around 16% in the previous decade.

• Since the start of the financial crisis in 2007, some 45% of global growth has come from the BRICs, up from 24% in the first six years of the decade.

• Long-term projections suggest that the BRICs could account for almost 50% of global equity markets by 2050.

• BRIC economies will likely account for more than 70% of global car sales growth in the next decade, with China expected to account for almost 42% of this increase.

* as of December 2009