For a clear indication of how the global economy is evolving, look no further than changing global trade patterns. The total value of trade from Brazil, Russia, India and China, better known as the Bric countries, grew by 40% year-on-year in the second quarter of 2010, compared to just 20% in the Organisation of Economic Co-operation and Development OECD, according to Standard Chartered. Mainland China, meanwhile, succeeded the US as Brazil’s largest trading partner in 2009 and Africa’s last year.
These trade flows are underpinned by a massive increase in gross domestic product GDP from the Bric countries, which is set to rise to about $18 trillion during the...
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