In 2001, two Goldman Sachs analysts made a startling set of predictions about how a set of four ‘emerging’ economies — which they catchily termed the BRICs (Brazil, Russia, India and China) — would compare to the member countries of the G8 by 2050 (Figure 1).
These analysts were not the first to predict tremendous shifts in the economic and therefore political-power geographies of the world, but they attracted a great deal of world attention. While the exact scenarios they describe are open to discussion, few people would disagree that the world is going to experience major changes in the balances of economic and political power over the next century.
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