STANFORD – A few years ago, pundits and policymakers were predicting that the BRICS countries – Brazil, Russia, India, China, and South Africa – would be the new engines of global growth. Naive extrapolation of rapid growth led many people to imagine an ever-brighter future for these economies – and, thanks to them, for the rest of the world as well.
斯坦福—几年前，专家和决策者预测金砖国家——巴西、俄罗斯、印度、中国和南非——将成为全球增长新引擎。将高速增长简单外推让许多人开始构想这些经济体无比光明的未来——以及托它们之福，全世界都会迎来灿烂前途。