BRIC Nations Building Bigger Share of Global GDP

The video discusses the shifting dynamics of global economic influence, highlighting the decline of the US's share from 20% to 17% over a decade. It emphasizes the rise of BRIC countries, particularly China, which has increased its influence from 18% to nearly 30% since 2000. The discussion also covers India's economic reforms under Modi, focusing on the removal of gas and oil subsidies, which are seen as significant steps towards economic growth.

What is the main driver behind the growth of BRIC countries' influence in the global economy?

• China

• Brazil

• Russia

• India

What percentage of the global economy does the US currently account for?

• 17%

• 20%

• 30%

• 18%

What is the uncertainty regarding the US economy's performance?

• Its growth rate compared to China

• Its technological advancements

• Its ability to influence the global economy

• Its trade relations with Europe

What significant policy change has Modi implemented in India?

• Increasing gas subsidies

• Increasing export duties

• Removing oil subsidies

• Decreasing import tariffs

What opportunity did lower oil prices create for India?

• An opportunity to invest in renewable energy

• A political opening to remove diesel subsidies

• A chance to increase oil imports

• A reason to increase fuel taxes