Goldman Sachs Review of BRICS Growth Trends Highlights India and China's Expansion

Goldman Sachs reviewed a 25-year-old economics paper that predicted four emerging markets—Brazil, Russia, India, and China—would become major global powerhouses. The review noted that while the BRICS group is now heavily dependent on India and China, the growth figures for these two nations are substantial. Since 2000, India's cumulative per capita growth totaled 246%, and China's reached 554%.

The analysis indicates that China and India have grown far more rapidly than the mature economies of the West, which saw cumulative per capita growth of 45% for the U.S., 30% for the European continent, and 29% for the U.K. The review also noted that Brazil and Russia's share of global GDP has returned to levels seen when the initial prediction was made.