As the West Makes Room for The Brics What Are The Implications for Emerging Business Models?

Asia's economic power is increasing at a rapid rate, and the regionwill take on heightened prominence such that it will soon rival the US as the main source of direction for global markets, Reserve Bank of Australia governor Glenn Stevens said today. “It is not just the centre of gravity of economic activity that is shifting to Asia, the weight of financial assets is also shifting too … With the Chinese government seeking annual economic growth of seven per cent, China's weight in the global economy will exceed that of the euro area in five years and approach that of the US within a decade.” A speech in New York to the American Australian Association. Glynn (2011)