Emerging Markets

Foreign Affairs Article

Africa's Economic Boom

Authors: Shantayanan Devarajan and Wolfgang Fengler

Sub-Saharan Africa's GDP has grown five percent a year since 2000 and is expected to grow even faster in the future. Although pessimists are quick to point out that this growth has followed increases in commodities prices, the success of recent political reforms and the increased openness of African societies give the region a good chance of sustaining its boom for years to come.

See more in Africa (sub-Saharan); Economic Development; Emerging Markets

Ask CFR Experts

Where do you see Brazil in 2020? As a country with the lowest growth rates among the BRICS, is the dream over for Brazil?

Asked by Fagner Dantas, from Universidade Federal da Bahia

The Brazilian government faces a number of challenges and opportunities concerning its economic forecast in the coming years. After peaking at 7.5 percent growth in 2010, Brazil's recent economic slowdown has caused worry that the dream of a new high-growth economy had slipped out of reach.

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See more in Brazil; Economic Development; Emerging Markets; Global Future Trends

Primary Sources

Joint Statement of the Fifth BRICS Summit in Durban, March 2013

The fifth summit of the BRICS (Brazil, Russia, India, China, South Africa) countries met in Durban, South Africa March 26 and 27, 2013, to discuss "political and economic coordination." They released their fifth summit declaration, "BRICS and Africa: Partnership for Development, Integration and Industrialisation," which includes plans for a BRICS development bank.

See more in Emerging Markets; Trade; Global

Op-Ed

Mexico Isn't a Gangland Gunbattle

Author: Shannon K. O'Neil
USA Today

Shannon K. O'Neil says, "[American] perceptions reflect the Mexican reality that dominates headlines: soaring crime rates and gruesome murders in a war against drug traffickers. But this window into Mexico overlooks an economic transformation and deepening ties with the United States that reflect a dramatically different country."

See more in Economic Development; Mexico; Latin America and the Caribbean; Emerging Markets

Foreign Affairs Article

Broken BRICs

Author: Ruchir Sharma

Over the past several years, the most talked-about trend in the global economy has been the so-called rise of the rest, which saw the economies of many developing countries swiftly converging with those of their more developed peers.

See more in Emerging Markets; Brazil

Interview

Does the BRICS Group Matter?

Martin Wolf interviewed by Christopher Alessi

The emerging BRICS economies agree that the West should hold less sway in the global economy. But their leaders, despite regular summits, have failed to articulate a coherent vision because of divergent interests, says journalist Martin Wolf.

See more in India; Brazil; Emerging Markets