Domestic demand driving BRIC growth - Allianz

Michael Konstantinov, Allianz RCM BRIC Stars fund manager, says the BRIC countries (Brazil, Russia, India and China) are becoming less dependent on exports and are increasingly driven by domestic demand. “BRIC and other emerging markets are in a boom cycle, but today the drivers are different,” Konstantinov says. “The US continues to have a big share, around 28% of global GDP, but we are seeing a shift from a US-led economy towards an emerging markets-led economy. “If we look at the latest numbers we can see proof that the BRIC markets are driving much of the incremental growth in gl...