The BRICs Could Crumble After All
Martin Walker, Middle East Times | September 16, 2008
For a long time it has been thought that world markets are decoupling, enabling the emerging economies of the BRIC group to thrive regardless of the economic slowdown in the Western world. ++ The emerging countries were predicted to quickly overtake the veterans of the G7. ++ New data, however, seem to puncture that theory. ++ BRICs do not live in an enclosed world, and the credit crunch has had a significant impact on their economies as well. ++ It appears like we might be looking at the beginning of a global recession.
