Propelled into prominence in the early 2000s, the BRIC acronym refers to Brazil, Russia, India, and China as a single economic concept – of nations at similar phases of their advanced economic development journey. Coined by economist Jim O’Neil, he claimed that GDP (Gross Domestic Product) of these four markets would rise at a faster rate than that of developed economies. To his credit, the share of global GDP (based on purchasing power parity) attributed to BRIC, has risen from 18% to 29% from 2000 to 2013.
But a lot has happened in the past year. While things look promising for India following its unprecedented switch in government, and for China as it diligently abides by its target to keep annual GDP growth above 7% - Russia has been crippled by international sanctions, plummeting oil prices, and weakened currency; Brazil meanwhile, has been swept up in deep structural problems and high-profile corruption scandals.
Economy-wise, 2014 seemed very much an IC year, rather than a BRIC year. Though, the IMF (International Monetary Fund) forecasts economic recovery for Brazil and Russia leading up to 2020.
Did BRIC reciprocating gas engine markets follow a similar fate? To continue reading please follow this link to COSPP: http://www.cospp.com/articles/2015/02/bric-stationary-gas-engine-markets-china-to-lead-the-pack.html