BRIC Economies & Foreign Policy An Analytical Study

At the outset, the choice for four seemingly unrelated nations into an economic category seems disingenuous. However, as we examine the historic economic data, a more detailed picture starts to emerge. For instance, in 2001 and 2002, the combined nominal GDP growth of emerging economies exceeded that of the G7 nations [1][2]. This is in line with a 2011 economic paper on GDP projections by the consulting firm PricewaterhouseCoopers, where the combined GDP of China and India alone was predicted to overtake most high-income OECD nations [3]. While currently seven out of the ten biggest economies (by GDP) are all developed nations (US, Japan, Germany, France, United Kingdom, Italy, Canada – down from nine in 2007), that number is projected to become four (US, Japan, Germany, and UK).