“BRICS or Bust? Escaping the Middle-Income Trap” by Hartmut Elsenhans and Salvatore Babones: an excerpt
The rise and fall of Brazil, Russia, India, and China, the so-called BRIC nations, is the great geo-economic story of the twenty-first century. In the early 2000s, these countries were tipped to redraw the economic map of the world. With a combined population of nearly 3 billion, they constituted roughly 40 percent of the world’s…

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