Whilst we watch the continued implosion of the grand European experiment, the new world BRIC order continues to grow apace.
In a fascinating extract from his new book, Jim O’Neill (Chairman of Goldman Sachs Asset Management), paints a picture of the new world order, driven by continued growth from the BRIC economies (Brazil, Russia, India and China).
The aggregate GDP of the BRIC countries has close to quadrupled since 2001, from around $3 trillion to between $11 trillion and $12 trillion.
The world economy has doubled in size since 2001, and a third of that growth has come from the BRICs. Their combined GDP increase was more than twice that of the United States and it was equivalent to the creation of another new Japan plus one Germany, or five United Kingdoms, in the space of a single decade.
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