In refrigerators in developing nations, we can see the impact of affluence on their diet and on supply and demand that will change worldwide food prices.
We might have to say BRINC rather than BRICS. As a developing nation with the highest GDP in Africa, South Africa has been the “S” in BRICS (Brazil, Russia, India, China). Now though, Nigeria has raced ahead. During one weekend…
In an econlife post from September 2013, we presented a spending ladder that emerging market nations like the BRICs–Brazil, Russia, India, China–might climb. At each rung, spending surges and then flattens at that higher level until consumers can afford to climb…
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