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Public Debt Dynamics of Europe and the U.S. by Dimitris N. Chorafas

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13

Storm Clouds over the BRICs

An interesting fact about emerging markets, particularly in terms of a trend, is that in the course of the 6-year economic, financial, and social crisis (2007 to today) their massive population has shown a significant degree of resilience, even if the countries themselves were not entirely immune to global economic weakness. If South Africa was added to the BRICs (to which it does not really belong), then they would make up 43 percent of the world’s population. And as one of the experts pointed out, there are no other economics that can compete with BRICs.

China is already a major global player, and it grows faster than the Asian economies surrounding it. In the twenty-first century, the Chinese economy expanded ...

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