You can call them emerging markets or rapid-growth markets, but the bottomline is that the BRICS nations have emerged as the islands of prosperity in a global economy that is collapsing. According to a growth forecast by Ernst & Young for 2013, analysts expect only a very modest recovery with the way emerging markets are moving.
For 2012, analysts estimate a significant decline for emerging markets and growth is expected to fall from 6.3% down to about 5.3%. China and Hong Kong expected to grow at about 8.2%. In terms of rapid-growth markets, the Ernst & Young survey identified Brazil, Chile, Kazakhstan, Qatar, India, China, Hong Kong and Vietnam.
A panel of experts from Ernst & Young comprising Ajen Sita, managing partner, Africa, Jorge Menegassi, managing partner, Brazil and South America, Albert NG, chairman and managing partner, Greater China and Karl Johansson, managing partner, CIS have come together to discuss, on CNBC-TV18, the possibilities of growth,