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BRIC nations to see 40 percent of global growth

December 30 - A recent Ernst & Young report brings a note of optimism to the heavy lift and project forwarding sector.

According to the report, For Richer, For Poorer, Global Patterns of Wealth, the four nations that make up the so-called BRIC nations - Brazil, Russia, India and China - will be responsible for 40 percent of global economic growth over the next decade.

The report also states that: "Companies and governments in the developed world have to face up to the reality that there will be a further shift in the economic balance of power in the years ahead."

In what could be good news for companies involved in the movement of heavy lift and project cargoes which will be required to build infrastructure in the four nations, the report also said that the BRIC nations - the largest of the plethora of emerging global economies - would account for one-third of the world's GDP by 2020, led by China.

It also said that emerging economies currently control 77 percent of the world's reserves.

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