BRICs and Global Economic Power

Abstract

A key idea in this book is that emerging markets are changing the face of the global economy but that their ability to dominate in non-economic spheres is more uncertain. This chapter focuses on the central dimensions of their economic domination; namely, their growing contributions to global economic growth, inflation, trade and finance. This data-heavy chapter aims at giving a sense of the overall size and forms of the emerging markets’ engagement with the global economy and thereby provide the foundation for a deeper analysis in later chapters of the sustainability of the BRIC miracle.