Global Economics - BRICS - Brazil | Russia | India |China | South Africa

The world is changing very rapidly, from the Internet and many more. How will the world change and what will it mean for both you and I? It is important to know where the growth will come from and who will have the new wealth.

What Does Brazil, Russia, India, China, and South Africa - BRICS Mean?
BRICS is an acronym developed by economist at Goldman Sachs to describe the the economies of Brazil, Russia, India, China and South Africa combined. Yes, originally it was BRIC, then South Africa became an emerging force and the emerging countries now spell BRICS with the "S" designating South Africa.

The term was first used by Goldman Sachs in an economic analysis report in 2003. The report fore-casted or some say "speculated" that by 2050 these four economies (Brazil, Russia, India and China) combined would be wealthier than most of the current major economic powers.

EU a fifth not South Africa? For some time, the fifth brick in this equation was thought to be Europe. However, the emergence of South Africa has suggested the correct term should be BRICS with the S representing South Africa for economic power.

New World Economic Dynamic

In short, we must take a new look at the global powers of the world and realize the geographic map is not changing, the map of economic power is changing. We have seen changes of this just beginning. The significance affects all of us - no matter country we reside. What we do, who we see, what is discussed on the Internet and most importantly, who funds our pay checks is changing very rapidly. Understanding the new world economic dynamic is critical to our daily lives and our income.

Unlike the EU which is a formal agreement with one monetary system and one unified voice, the BRIC countries are separate. The thesis highlights the fact that these countries control the flow of goods - they are the manufacturers of the world. The stated concern is the economic bloc. My concern is the economic shift and the brain drain that the United States is experiencing and no one wish to recognize.

American have always been self centered. Our knowledge of the world has been limited both in the media and in our culture. The average American doesn't know the world politics. Yes, we learned the cultures are different but how many Americans today even know the EU exists and who can name the countries let alone identify them on a map.

The world is changing rapidly, we as American citizens living and supporting a democracy must understand the world around us in order to remain competitive. We sat back as China took over our manufacturing, we are sitting back now as the BRICE not the BRIC takes over our corporate taxes and our intellectual properties. The brain drain is now extending to a drain on US taxes.

As consumers, as American consumers, we have choices, we can buy American. We can support countries who pay taxes in this country. We can complain when corporate taxes go overseas. We can complain when we are no longer competitive.

James Watkins detailed how the unions have broken this country. The unions contributed, we allowed it. Lack of knowledge and understanding caused us to not calculate that we gave the jobs of our children and our grandchildren to BRIC. With BRICE fully on the horizon, we need to stand up be counted for, we must vote, we voice our concern.

A democracy in the new global world can only work if the people of that democracy are savvy. Learn about the world, read about the coming changes, voice your opinion, cast your vote.

Enjoy Hub Pages?  Enjoy sharing?  Join for FREE!

JOIN HUB PAGES TODAY!