Many of Davies’s findings are fascinating. For starters, both China and India have vastly outperformed our projections. Their contributions to the grouping’s overall growth have been so large that they have more than compensated for underperformance by Brazil, Russia and South Africa (the latter was added a decade after our original BRIC paper).
Last month, Gemma Cheng’er Deng of King’s College London and I launched BRICS+ Thinking, a not-for-profit policy platform aimed at exploring collective solutions to the world’s biggest challenges in this age of “us versus them.”
To mark the occasion, my former Goldman Sachs colleague Gavyn Davies produced a detailed numerical analysis of what has happened to the world economy since we coined the BRIC (Brazil, Russia, India, China) acronym a quarter-century ago. As far as I know, it is the most thorough, objective analysis of the BRICS economies’ actual performance relative to the scenarios we provided in the early 2000s.
