G7 ‘still well ahead’ of BRICS nations
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Matthew Lesh quoted in The Huffington Post
Julian Jessop quoted in Business Leader
Julian said:
“The BRICS have caught up with the G7 in terms of GDP, but only if this is compared using PPP exchange rates to reflect differences in domestic purchasing power (a Dollar goes a lot further in the poorer emerging economy than in a richer advanced one). In terms of actual market exchange rates – a better measure of importance in the global economy – the G7 are still well ahead.”
Read the full article here.