The future is made of BRICs

Brazil, Russia, India and China are likely to drive global growth over the coming decades, despite their obvious vulnerabilities.

Delegates to Sibos were yesterday afforded a glimpse into the fast-growing quartet of leading developing nations, hearing from representatives of Brazil, Russia, India and China. The panellists detailed how the financial systems of these countries have been transformed and now underpin the strong economic growth they are enjoying.

The session was moderated by Nelson Cunningham, the managing partner of Kissinger McLarty Associates. He described studies that showed that by 2050, these four economies would have a combined economic weight equal to the G8 of today.

This is a transformation that everyone in the room should be terrified by, he said. Giving the Asian angle on this...

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