Economy and Mauritius Growth Performance

BRICS also known as the Big five is a grouping acronym that refers to the countries of Brazil, Russia, India, China and South Africa that are deemed to all be at a similar stage of newly advanced economic development over the next few decades Brazil, Russia, India, China and South Africa will become large, powerful players in the world economy. Regardless of their social, political, or environmental challenges, the BRICS will play an ever-increasing role in the world economy, China and India will remain the dominant pair of the five some thanks to their large and increasingly better-educated populations, their low-cost labour, and their increasing openness. The BRICS thesis posits that China and India will become the world's dominant suppliers of manufactured goods and services, respectively, while Brazil, Russia and South Africa will become similarly dominant as suppliers of raw materials. A significant part of the growth potential of the world economy for the coming decades resides mostly in some large less developed countries, BRICS Countries have such potential. More than just that, BRICS Countries are thought as having the capacity to change the world by the threats and opportunities they represent from the economic, social and political points of views.

Over the next 50 years, Brazil, Russia, India, China and South Africa—the BRICS economies—could become a much larger force in the world economy. Using the latest demographic projections and a model of capital accumulation and productivity growth, we map out GDP growth, income per capita and currency movements in the BRICS economies until 2050. South Africa's addition is a deft political move that further enhances BRICS’ power and status and India and China, the world’s two most populous countries, formed a strategic Partnership to end a border dispute and boost trade. In the meantime, the speed of the BRICS’ economic recovery has led some to see the global economic crisis as a pivotal milestone in the