Tuesday, 30 October 2012

How Will The Rise of the BRICS Affect Us?

by Viva Avasthi

On Saturday 27th October I attended a lecture on the rise of the BRICS (Brazil, Russia, India, China, South Africa) as part of the University of Cambridge's Festival of Ideas. 

The speakers were:

Jaideep Prabhu
Jaideep Prabhu
University of Cambridge
Judge Business School

Isabel Hilton

Martin Jacques
Martin Jacques
'When China Rules The World'
Michael Keith
Michael Keith
University of Oxford

 In this series of six articles...

I will be presenting the economic development of each country from the BRICS in detail by addressing the three questions posed below. In order to do this, I will use my research as well as the opinions of the aforementioned speakers.

  1. Why have the BRICS experienced such rapid economic growth?
  2. How has this affected us?
  3. How will this affect us?
The first article in the series is on Brazil, since it is the 'B' in 'BRICS'.
The final article will be an overview of how the BRICS have affected us and will affect us as a group of countries.

The graph below highlights the fact that there has most definitely been a rise of the BRICS. 

This graph measures the GDP based on the PPP (Purchasing Power Parity, which accounts for differences in spending power available through different currencies) of each country rather (than the more common) GDP based on current prices. 

I have included the data on the US, UK and Germany so that the BRICS can be compared to other non-BRICS countries. Please move your cursor over the graph to see the various statistics.


Post a Comment

Hi there!

We'd love it if you'd share your thoughts and ideas. Don't forget to check back after commenting because we try to reply to all of your comments.

Just remember to be nice, please!