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I think you are blowing your trumpet before there is any real results, Brazil and India have terrible povery, even though it is declining it would be a long, long time before there is equality and a decent standard of living for the majority.
You do realize that an economy that grows an average of say 7% per year, doubles its national wealth every 10 years while an economy that grows say 2% a year doubles its wealth every 36 years.
With that in mind, lets see what's the growth rate of the following economies (as recorded in the CIA World Factbook):
United States 2.8%
European Union 1.8%
Japan 3.9%
Now the BRICs:
Brazil 7.5%
Russia 4%
India 10.4%
China 10.3%
The global average growth rate is 4.9%.
What this means is that, on average, the BRIC countries are not only surpassing the former center of the global economy (The West + Japan), but those countries are also becoming wealthier at a faster rate than the world at large.
Add to that a fast growing middle class and continously falling poverty rates and inequality among the BRIC countries, while stagnant to declining middle classes in the US, Europe and Japan as well as poverty rates that as of late have been rising.
Lets not hide our heads in the sand and pretend things are fine, they're not. The BRICs are fast catching up and there's nothing anyone can do to stop it, but much worst is that it seems that there's not much anyone can do to get The West + Japan back on the fast track either.
Now do the math and see how your 'we're still bigger than them' argument is quickly replaced by the question: for how long?
Its a new world and we have to learn to accept it for what it is, not what we want for it to be.
What's your point here? Some African countries had higher growth rates. They are STILL 3rd world countries. And they will stay at that level for quite some time. They sell their stuff to the 1st world. Because it's the 1st world that has the money to buy it.
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Its a new world and we have to learn to accept it for what it is, not what we want for it to be.
Funny thing is that they said the same 70 years ago... lmao. And including Russia in this group is absolutely fatal for your credibility.
And, instead of telling me where you got it from, post a link.
So is Nigeria huge, is it only a matter of time for them? Brazil has millions upon millions living in favelas, maybe you can boast about Brazil soon becoming the "biggest economy in the world" when that is sorted.
And as mentioned earlier in this thread, that number is shrinking at an incredible rate...as is the crime rate.
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Originally Posted by Glucorious
Yeah, right. You do realize they all combined have a much, much...MUCH larger economy than BRIC? You are comparing your compost pile in your garden to the Mount Everest here. Let alone the fact BIRC sells a crap load of their good to these countries. If anything, BIRC will go down before anybody else.
To a degree, yes...but not all. For instance, Brasil is the largest livestock producer in the world. The country more/less feeds China and India. At this point, a lot of what India and China produce are going to USA/EU, but as the middle classes continue to grow in these nations, their market interaction will become much larger.
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Originally Posted by paull805
I think you are blowing your trumpet before there is any real results, Brazil and India have terrible povery, even though it is declining it would be a long, long time before there is equality and a decent standard of living for the majority.
Agreed...and I don't think anyone is trying to say otherwise. Both India and Brasil have a long way to go before they can offer a QOL anywhere near Europe or the US on the whole. However cities like São Paulo are making great strides in getting there.
Again the butthurt on this thread is amazing. No one is saying the UK is bad, or that Brasil offers a QOL anywhere near the UK or anywhere else in Europe...however to compare the health of the economies at this point would show a strong advantage to Brasil and the other BRICS. There's a reason these countries are being paired together and not paired with the US or Europe. They're all developing. So while they're not going to be in the same category in terms of infrastructure, healthcare, overall educational opportunities, etc., etc., they're improving themselves at a faster rate than anywhere else and quickly becoming major players in the global market.
It's sort of funny to see how scared people are of these countries. As I mentioned in my previous post, the development of these countries presents many economic opportunities for the entire planet. You can all dry your tears.
Brazil has millions upon millions living in favelas, maybe you can boast about Brazil soon becoming the "biggest economy in the world" when that is sorted.
If the U.S. had the year-round climate of much of Brazil (yes, I know it can get cold in winter in the south of Brazil) you'd see favelas and tin-shacks dotting our countryside and cities everywhere. A more pain-less life for the impoverished and homeless.
In the U.S., residents of the favelas of Rio de Janeiro, would be shell-shocked to see our homeless sleeping in tents, on sidewalks, in our inhospitable climate in a good part of the U.S., Spring/WinterFall.
I pity less those I've seen in 3rd world countries, with a year-round favorable climate like Haiti and much of Brazil, who will, at least, never have fears of freezing to death. No blankets necessary!
Spoiler alert. A country needs a capable government for its economy to flourish no matter the size look at Nigeria, Brazil, Mexico, India, Pakistan and Bangladesh yes some of their economies might be "flourishing" but look at the rampant and widespread poverty in these countries. A lot of the people in these countries are in dire situations.
I never said anything to the contrary. All I said was that a nation's economy grows along with its population. Nigeria's economy is larger than Luxembourg's. Indonesia's is larger than Norway's. Merely because of the sheer volume of their populations. Brazil's population is growing so fast, they passed Britain. So what?
The size of the economy is based on the total, not the per capita average.
I recently read an article in the Time magazine about Brazil, and how influential a particular tele-novella has had such a great influence on its viewers, intimating a 2 child family is the ideal, and the fertility rate now in Brazil is a mere 1.9.
So as this country prospers, down the road, who are going to be the immigrants to do the low-level work? Where will they come from?
I recently read an article in the Time magazine about Brazil, and how influential a particular tele-novella has had such a great influence on its viewers, intimating a 2 child family is the ideal, and the fertility rate now in Brazil is a mere 1.9.
So as this country prospers, down the road, who are going to be the immigrants to do the low-level work? Where will they come from?
Africa? Bolivia? Middle East?
At this time, Sao Paulo is attracting large numbers of Bolivians for the low-level work.
Although, actually they compete heavily with the already poor of Sao Paulo for the same low pay jobs.
The size of the economy is based on the total, not the per capita average.
Jesus Christ, finally somebody who apparently understands this simple notion!
Nobody is saying that Brazil is richer than the UK (if they are, they're wrong), only thay its economy is now larger. Now, make whatever you want out of that.
THe level of haterism (to use such an American term) by first worlders in this thread is disgusting yet at the same time amusing.
Don't worry Europeans.....your ppl will maybe be able to get menial jobs in Brazil that Brazilians don't want someday when your first world economies have fully crumbled! Sounds out there? I'm sure even 5 years ago none of us would have expected Europe to be going around cap in hand for bailouts from China and Brazil! :O
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