Arun Panchariya believes the slowdown of the growth rate in the so called BRIC-countries is now clearly visible. Brazil is the latest example. Its gross domestic product expanded 2.7 % in 2011 and only with 0.3 % in the fourth quarter of 2011 compared with the third quarter.
In spite of this slowdown of the growth Brazil has overtaken the UK to become the world’s sixth-largest economy in 2011 according to Centre for Economics and Business Research, the think tank.
