when giants slow down - wednesday

This year will be the first in which emerging markets account for more than half of world GDP on the basis of purchasing power, according to the International Monetary Fund (IMF).
In 1990 they accounted for less than a third of a much smaller total.
From 2003 to 2011 the share of world output provided by the emerging economies grew at more than a percentage point a year (see chart 1).
The remarkably rapid growth the world has seen in these two decades marks the biggest economic transformation in modern history. Its like will probably never be seen again.

The most impressive growth was in four of the biggest emerging economies: Brazil, Russia, India and China (the BRIC's).
The shift towards the emerging economies will continue.
But its most tumultuous phase seems to have more or less reached its end.
Growth rates in all the BRICs have dropped.
The nature of their growth is in the process of changing, too, and its new mode will have fewer direct effects on the rest of the world.

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http://www.mauldineconomics.com/ttmygh



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