Brics Nation Research

Topics: Brazil, Rio de Janeiro, BRIC Pages: 1 (309 words) Published: May 27, 2013
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Economic growth, take off and transition
For China, India and Russia the transformation towards a market-based economy, deregulation and the „opening-up‟ towards the global economy marked the start of economic acceleration. Infrastructure prowess determines all the growth in BRIC countries CONSEQUENCES: Chinese labor force is no longer increasing so fast. But slowing growth also reflects the fall in demand in Europe. Wages in Chinese factories are also rising fast, which is good news for workers – but bad for China’s competitiveness. A slowing China has knock-on effects for the other BRICs – since it is now the largest trading partner for Brazil, India and South Africa. Brazilian growth has dropped off particularly fast. It hit 7.5 per cent in 2010, the year after Rio de Janeiro was named host city of the 2016 Olympics. This year, the Brazilian economy will probably grow by less than 2 per cent. India’s economy has seemingly declined in comparison to other nation under the BRIC category. BRIC nation’s currency has depreciated astonishingly since 1998. Are BRIC nations losing their stability? China is ousting India in every aspect Brazil’s crumbling trade balance should be a major concern in regards to their status which may affect the BRIC nation
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