Goldman Sachs Says BRICs ‘Halcyon Days’ Consigned to History
- Slowing China will have far-reaching impact on emerging growth
- Investment case for developing assets improving with economies
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A recovery in BRIC countries won’t recapture growth rates that brought them to prominence a decade ago, according to the chief emerging-market macro strategist at Goldman Sachs Group Inc., the bank which coined the term.
Kamakshya Trivedi said slowing demand in China, the world’s largest consumer of commodities, will continue to encroach on growth throughout the developing world. The country is responsible for about 40 percent of emerging-market output, according to Goldman Sachs.