Summary of A Ride in Rough Waters

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  • Analytical
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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.

About the Authors

Raju Huidrom, M. Ayhan Kose and Franziska L. Ohnsorge are economists at the World Bank.

 

Summary

Growth in the biggest emerging market economies began decelerating in 2010, particularly in four of the five BRICS nations – Brazil, Russia, China and South Africa – with India being the anomaly. The drop-off in Chinese growth and stubborn economic weakness in South Africa were largely responsible for the letup. Meanwhile, Russia entered a sharp recession in 2014, and Brazil’s economy began retreating in 2015. Both global and domestic factors – such as the downturn in world trade, the fall in commodities prices, shrinking government spending and decreases in productivity advances – contributed...


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