Out with the Old, In with the New

Nothing is indispensable; the same thing can be said with the economies of the world. An example can be seen last 2015 with the continuing decline of economies such as Brazil, Russia, India, and China who earned the moniker the “BRIC economies.”

The onset of 2016 dealt a substantial blow to the Chinese economy, while both the Brazilian and Russian economies experience backslide as the old economical giants are dethroned and pave the way for both a new order and economies to develop. However the new rising economies have yet to be determined, leaving questions such as which countries will be given the privilege to maintain their pace during accelerated growth despite the presence of global slowdown? Who among the countries of the world will fill the blank spots left the now declining BRIC economies?

It has been confirmed that the golden age to the BRIC economies has come to an end; with India the only remaining country of the big four thanks its enormous population and inward growth. The same cannot be said for the others, as mentioned earlier, China is struggling to keep its economy intact while also working to undergo a transition from an export-capital investment-driven economy into domestic consumption and services.

The other BRIC economies are experiencing an even heavier plague; Brazil is suffering from continual corruption as well the longest recession the country has seen in the last hundred years. It has been thought that Brazil will have trouble recovering and should the country reach the road to recovery it will be a long and hard road.