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Can the southern engines sustain their growth?

Article Excerpt
The emergence of four economies from the 'South' as important players in the global economy has attracted attention. These four economies, China, India, Brazil, and South Africa (CIBS) were thought, for different reasons, to be hopeless 'basket cases' during the second half of the last century. Since the 1990s, their fortunes have changed. Growth rates have been spectacular in China now for about three decades, and in India, since the reform process of 1991, the economy has achieved a growth rate of GDP that on average is double the average of the thirty years between 1950 and 1980. South Africa and Brazil have not had an equally rapid acceleration, but they are already middle income countries and are noticed for their potential. Brazil's size makes it a likely candidate as an 'engine' and South Africa's leading position in Africa makes it a country worthy of inclusion in this club. In this article, the potential of CIBS to sustain their growth and be truly 'Southern Engines of Global Growth' is explored.

Comparing the CIBS

The four economies are very different. Two are Southern hemisphere and two are Northern. In broad macro terms of area and population, China is the top with 9.6 million square kilometres ([mkm.sup.2]) and a...

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