What BRICS Cannot and What It Can Deliver

... parity GDP, the BRICS’ share is around 33%, which puts the BRICS group well ahead of G7 (the seven largest Western economies). Moreover, BRICS role in the global economy is going only to further increase in the observable perspective and by 2050 the G7 aggregate economy will be only a half of the BRICS size, even if the latter stops adding new members. All of this is true. However, BRICS does not constitute a natural completely self-sufficient economic center of power. The overall trade within the whole “old” ...