The BRICS nations and why we should know about them

The BRICS nations are new economies at a similar stage of development. The countries are Brazil, Russia, India, China and South Africa.  Korea (ie South Korea) is not in this listing because it is regarded as being already a developed economy.  The BRICS have between them more than a quarter of the world’s land area and more than 40% of the world’s population.  More importantly for car making, they are developing middle classes quicker than any other countries.  The American agency Goldman Sachs has estimated that the BRICS could be the most dominant global economies as early as 2050.