How’s Your BRIC Business?
This week I learned another acronym: BRIC stands for Brazil, Russia, India and China.
The term has been used for a number of years by economists; you can also find a number of investment funds which are focused on these countries.
These four countries have been identified by economists as having rapid growth. Some even predict that the economies of these “emerging markets” will grow to be bigger than many of today’s “rich” developed countries in the next 30 to 40 years.
Wiki provides more background.
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2 opinions for How’s Your BRIC Business?
Ren Garcia
Mar 15, 2008 at 11:22 pm
The “C” in BRIC can very well stand for Canada. It has proven reserves second only to Saudi Arabia, has sustained trade and budgetary surpluses for a number of years. Its currency has appreciated more than 50% against the US dollar. It has a stable parliamentary democracy and has one of the best human rights records.
Jean Mercedes
Mar 16, 2008 at 6:13 am
Hi Ren Garcia - now that’s an interesting hypothesis! The original idea, however, behind the acronym BRIC was to group together emerging countries (formally known as “developing”) with exceptionally high economic growth.
Now, Canada has been doing well for a developed country in the past few years, but I would say that all of the big conglomerates are already there and unless Canadian population growth starts exploding, over-the-top economic growth can not really be expected.
One of the big differences between developed and emerging markets is the consumer “needs”. Take the car industry. In the US (Canada is similar), every household already has 2 cars. In BRIC countries, the ratio might be 1 car for every 30 or 50 households. The developed market is satiated; the emerging market has significant growth potential, so this is where the action is.
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