Keeping the ‘R’ where it belongs in BRIC

Resumo

For 2000–09, Russia’s real gross domestic product grew at an average annual rate of 5.6 percent, considerably less than that of India and China. Meanwhile Brazil chalked up a growth rate of only 3.2 percent. Brazil seems to have lagged behind for a fairly basic reason: low savings and low investment, argues Martin Guilman. It is therefore too soon to write off Russia.