This time I will discuss Brazil Overtakes UK Economy (27th December 2011).
After reading this, please please be commented.
Brazil Overtakes UK Economy (27th December, 2011)
Brazil has overtaken Britain to become the world’s sixth largest economy. A study from the UK’s Centre for Economics and Business Research (CEBR) shows that the Brazilian economy is one of the world’s fastest growing and that its strong economic performance will continue. Its GDP for this year will be US$2.4 trillion. Only the United States, China, Japan, Germany and France have larger economies. Brazilian finance minister Guido Mantega said his country had outperformed Britain because it fared better during the world financial crisis. He also said Brazil’s economy was strengthening. Mantega predicted it would grow between 4 to 5 per cent in 2012. This is the kind of growth his British counterpart can only dream of; Britain’s economy is currently in danger of dipping back into negative growth and recession.
The boss of the CEBR, Douglas
McWilliams, told BBC Radio that Brazil overtaking the UK was part of a growing
trend that will see the BRIC countries (Brazil, Russia, India and China) emerge
as the most important economies. He predicts they will all be in the top six of
the World Economic League Table by 2020, joining the US and Japan. McWilliams
said: “I think it’s part of the big economic change, where not only are we
seeing a shift from the west to the east, but we’re also seeing that countries
that produce vital commodities, food and energy and things like that, are doing
very well and they’re gradually climbing up the economic league table.” Mr
Mantega said: “European countries have much higher per capita income than we
do. We’ll need 10, 20 years to reach European standards.”
