BRIC Product per capita spending, China will be the first and followed by India and the United States. Indonesia which nowadays does not belong to BRIC countries will jump from 9th position to 4th position. And Brazil will be in fifth position. It is due to the global economic center is shifting from the Atlantic to the Asia Pacific region. The Goldman Sachs global economics team released a follow-up report to its initial BRIC study in 2004. The report states that in BRIC nations, the number of people with an annual income over a threshold of $3,000 will double in number
BRIC closed down its BRIC fund after lost 88 percent of its asset value since 2010 and put the fund in emerging markets countries. Historically, Jim O'Neill who coined the term of BRIC was the former chief economist of Goldman Sachs. The head of emerging markets for Morgan Stanley Investment Management, Ruchir Sharma has released a book in 2012: "Breakout Nations" which mentioned that it is hard to sustain rapid growth for more than a decade. Based on a March 2011 "Forbes" report, the BRIC countries counted 301 billionaires among their combined populations, exceeding the number of billionaires in Europe, which