From Simone Wapler – The Strategy of Simone Wapler (France) –
BRICs had almost forgotten – the acronym for Brazil, Russia, India and China.
The big story before the crisis was that the suppliers of the West grew rich and a huge middle class would finally hatched in these countries.
Then came the credit crisis subprime was actually a debt crisis of the largest and richest of the BRICs customer, the United States.
Then changed a bit the pretty tale.
The BRICs would “reorient their economies” to their domestic market. Their growth would take ours …