Is BRIC report of Goldman sacs predicting correct ?

Question

will world change this much ? and one thing i would like to add economy of all 4 countries are growing much faster than estimated by report.
Your opinion about this report and its finding ?
I am sure if this happen, it will change the world balance

Answer 1

Any or all of those economies can pretty much be shut down if the US decides to stop dealing with them.

Answer 2

Yes, I do. That's exactly what trade will do(unless fair trade restrictions are introduced) and Milton Friedman wanted to see happen. Although, I believe that smaller countries will become more equal, their conditions eventually raised and US economy will be rocky/lowered, for a time.

Global Economics Paper No. 99: Dreaming with BRICs: The Path to 2050

Over the next 50 years, Brazil, Russia, India and China-the BRICs economies-could become a much larger force in the world economy. We map out GDP growth, income per capita and currency movements in the BRICs economies until 2050.

The results are startling. If things go right, in less than 40 years, the BRICs economies together could be larger than the G6 in US dollar terms. By 2025 they could account for over half the size of the G6. Of the current G6, only the US and Japan may be among the six largest economies in US dollar terms in 2050.

The list of the world's ten largest economies may look quite different in 2050. The largest economies in the world (by GDP) mayno longer be the richest (by income per capita), making strategic choices for firms more complex.

Answer 3

It is as yet undeterminable. China is definately a growing economic power and American companies are flocking there in droves. However those I talk to say that their infastructure can't keep up with the growth and they may suffer severe setbacks. In the case of both China and India the growth is largely based on dense popluations who will work for far less than more industrialized nations. Brazil and Russia of course have vast natural resources that are largely untapped and will definately be a factor. Global economics is changing but the strength of the US has always been innovation, we will adapt and change and still be the forerunner in global economics. We will just need to allow more cooperation with these other giants.

Answer 4

It's hard to get good data about or from any of the four countries but yes, they all look like boom markets. There's already been quite a run though. I'd stick with secular growth right now.