The BRICS Influence on the World Economy and Their Importance to the Adhesive & Sealant Industry
The "BRICS" include the countries of Brazil, Russia, India, China and South Africa. What started as a selection of countries with similar characteristics has now grown into a trading alliance that is setting a precedent for a new economic order that can potentially become a bigger influence on the world economy than the EU and USA combined. Perhaps most significant is the ability to bypass trading in U.S. dollar/Euro currencies. Collectively, the BRICS group represents 43% of the worlds population, 20 % of the global GDP and 38% of the world adhesive and sealant demand. Unscathed by the current world economic recession, real GDP growth is expected to be in the range of 4-4.5% for at least the next 5 years. There is every indication that the BRICS will lead the worlds economy within less than 10 years.
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