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Nguyen Thuong Vu
What are the BRICs countries and what are their future prospects in the global economy?
BRICs is an acronym created some 20 years ago by Golman Sachs to designate Brazil, Russia, India and China, as a group of nations to follow closely because they are the new stars in the world economy.
They were second/runner-up/ nations to big powers like the US, Japan, Germany, the UK , France…
Many things have changed since 2002 , now in the world scene of Economy, Manufacturing and Commerce.
China jumped to #2 Economy Power just behind the US and threatened the US in many areas.
India becomes this year 2023 the most populous nation, bypassing China.
India becomes the alternative to China in the post pandemic era because the World, especially the US, are not comfortable with the idea of an unreliable China manufacturing the vast majority of Medicine, appliances, and other necessities of daily life.
The price of generic medication – like antibiotics – made in China jumped surprisingly, at times more than X100 , and not always available in times of need.
During the pandemic , many antibiotics were only available as allowed by the leaders of China..
It was also the case for protective masks, hands sanitizing products , ventilators, etc…
The manufacturing factories are being built in India to offer a second alternative.
Apple is the first big player to manufacture the iPhone 14 in India in 2023.
Many other strong players are following Apple.
Brazil and Russia are very wealthy in natural resources , but these 2 countries are going through political instability, a lot of corruption problems, and popular discontent…
The Ukraine invasion by Russia is also a big destabilizing world factor.
Among the four countries of BRIC, the country that has a chance to reach the top is India which has an excellent tradition of democracy, a non aggressive foreign policy, and over a billion people eager to work.
Indian scientists are very well educated, hard working and very intelligent.
The CEO of Microsoft, Google are Indian scientists, many of the executive people in command at Apple, Facebook, Intel are Indian scientists also
We need also to remember that the Prime Minister of his Majesty King Charles III is a British citizen economist , trained at Stanford University, of Indian origin.
Best regards
Thuong-Vu Nguyen