The great opportunity of the BRICS to improve world development
MARCO FERNANDES
The BRICS countries occupy an increasingly important place in the world economy. In GDP by purchasing power parity (PPP), China is the world's largest economy, India third, Russia sixth and Brazil eighth. The BRICS now account for 31,5% of global PPP GDP, while the G7 share has fallen to 30%. They are expected to contribute more than 50% of global GDP by 2030, and the proposed expansion will almost certainly bring this forward.