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The BRIC thesis argues that these developing countries (Brazil, Russia, India and China) will share world economic dominance by the year 2050. It is predicted that these countries combined will make up over 40% of the worlds population and hold a combined GDP (PPP) of nearly $15 trillion. The thesis forecasts that Brazil along with Russia will become the world’s largest supplier of raw materials. Brazil’s current major exports include among other things coffee, soybean, iron ore, steel, and textiles. However, in a recent study reported in The Economist, Brazil seems to be lagging behind the other three developing countries...
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