The Braking Of The BRICs

 From Forbes: For over a decade, conventional wisdom has held that the future of the world economy rests on the rise of the so-called BRIC countries: Brazil, Russia, India, China (and, in some cases, with the addition of an ‘S’ for South Africa). A concept coined by Goldman Sachs economist Jim O’Neill, the BRICs were widely touted as the building blocks of the “post-American world.”

Such notions are particularly popular among intellectuals like India’s Brankaj Mishra, who sees world power shifting inexorably to “ascendant nations and peoples” — i.e. the BRICs — while “America’s retrenchment is inevitable.” Yet in reality, it is increasingly clear that the BRICs upward trajectory is slowing and many long-term trends suggest that their growth rates will continue to fall in the coming decades. Like other former “America-killers” such as Europe (1960s), Japan (1970s and 1980s) and the Asian Tigers (1990s), the BRIC countries appear to be unable to sustain the steady, inevitable progress projected by enthusiasts both at home and abroad.

One sign can be seen in the equity markets….

Just getting started.  Read the rest at  http://www.forbes.com/sites/joelkotkin/2012/10/05/the-braking-of-the-brics/