After the 2008 financial crisis, the largest developing markets – Brazil, Russia, India, China and South Africa (BRICS) – provided a counterbalance in economic growth to the lagging developed countries. But then the BRICS saw their advancement start to decelerate. In this incisive analysis, economists Raju Huidrom, M. Ayhan Kose and Franziska L. Ohnsorge point out how the BRICS countries’ extensive economic integration causes their growth declines to reverberate regionally and around the world. getAbstract recommends this focused and information-packed report to executives, investors and others watching the global economy.
In this summary, you will learn
- What makes the BRICS countries – Brazil, Russia, India, China and South Africa – economically significant,
- How a slowdown in these emerging markets affects regional and global economies, and
- How Federal Reserve rate hikes could complicate the BRICS countries’ growth decline.
About the Authors
Raju Huidrom, M. Ayhan Kose and Franziska L. Ohnsorge are economists at the World Bank.