On Jan 23, 2008, at 7:04 PM, Julio Huato wrote:
> The BRICs have been growing fast
> and that has inertia. Yes, on the downside, they've proved to be very
> volatile -- great years followed by lousy ones. But the question is,
> Can the BRICs keep up the pace by re-orienting their economies inwards
> by the sheer force of public investment? I think they can.
You may be right - though the Russian economy is still heavily driven by oil prices, and if oil prices continue to come off their highs, they may have a problem. But how much are China & India dependent on exports to the U.S.? Sure they might be able to shift to domestic-led growth, but it'd be a rough transition that could take years. And Brazil - it's been growing under 3% a year on average since 2000, though it picked up in 2006 and 2007. But still it's not in the same neighborhood as I & C.
Doug