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The BRICs have cracked Add to ...

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The BRIC countries – Brazil, Russia, India and, in particular, China – led the rise of emerging markets for more than a decade. But the BRICs have cracked – collectively, they are no longer leading the way. Indeed, their economies are headed in very different directions.

To be sure, there are still tremendous opportunities for Canadian companies in emerging markets. According to the International Monetary Fund, developing-country markets represent half of the global economy in terms of purchasing power parity, and are growing much faster than industrial countries. The United Nations Conference on Trade and Development reports that developing economies represent half of the top 10 host economies for flows of foreign direct investment. But business leaders and policy makers have moved beyond the BRICs as a grouping.

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