Dossier - November 2015

Skepticism toward emerging countries is widespread in the West yet the BRICS (Brazil, Russia, India, China and South Africa) were, in a sense, born West: was it not Goldman Sachs who created the acronym? Several countries have been going through economic turbulence, which even pushed Russia into the crisis and Brazil into recession. Yet China keeps a high growth rate, the bubble is about to explode and Shanghai’s stock exchange is dropping. India appears to be resisting, yet its incredible growth rate - partly linked with the way it is calculated - has neither triggered socio-economic development nor new job creations for the time being.