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The New Titans

Chaim Bodner International Marketing
The New Titans: A Survey of the World Economy
The Economist, September 16th 2006
Emerging economies led by the BRIC countries (Brazil, Russia, India, China) are looming larger on the world picture and growing faster every day. Their growth rate is an unforeseen phenomenon. The combined output of emerging economies from 2005 exceeded half of the world's GDP in terms of Purchase Power Parity. The world's GDP has grown by an average of 3.2% a year over the last five years which beats the 2.9% growth during the golden ages of 1950-73. This growth has been due to the growth in emerging economies. Their share of world exports has jumped from 23% in 1970 to 43% in 2006. What is it that is causing all this talk now if we know that emerging economies are growing faster than developed economies for a long time? The reason is that the gap in growth rates is larger than ever. What is causing this huge......


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Approximate Word Count: 1930
Approximate Pages: 8 (250 words per double-spaced page)

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