major world economy. it s also one of the major leading players in the group of emerging economies who are talking up the idea of a common trade currency to counter the dollar. so, could they become the trading block of the future? i m going to be discussing all of that and more with these two. there they are. the man who first coined the phrase the brics, and a former central bank economist from brazil. also on the show, shining bright like a diamond. yeah, the shiny rocks have been one of the big winners post pandemic. but can they keep their lustre in a shaky global economy? i m catching up with the big boss of the world s biggest diamond supplier. wherever you rejoining me from around the world, once again, a big hello, and a warm welcome to the show. you know, back in 2001, a directorfrom goldman sachs, jim o neill, now lord o neill, coined the phrase the brics, an acronym for what he gauged were the countries with the highest growth potential that would dominate the glo
north, temperatures will fall away under the starry skies, and we re looking at a fairly widespread rural frost at the very least. so we start off on a rather chilly note first thing sunday, quite a keen wind coming through the north sea as well for eastern areas, still that brisk ish wind towards the north and west. but for mostjust a day of dry and bright weather with hazy spells of sunshine for the most part. and temperatures will obviously not be as high as today because they re starting at a lower level, about eight, possibly ten degrees celsius in east anglia. but some pleasant feeling weather, light winds, if you re out and about. during the evening and overnight, we do pick up a little bit more cloud ahead of the next weather system in the north and the west. so it won t be quite as cold for the far north west of scotland, northern isles, the west of northern ireland. but elsewhere, another cold night and this time it will be frosty further south as well, possibly one
to the country torn by internal conflict. you are watching bbc news. now, it s talking business. hello, everybody. a very warm welcome to talking business weekly with me, aaron heslehurst. let s go and take a look at what s on the show. the great global divide is the world economy drifting away from us dominance, as some of our biggest emerging economies are showing us what economic growth is all about? india, it s sitting pretty at the top of the pack, growing faster than any other major world economy. it s also one of the major leading players in the group of emerging economies who are talking up the idea of a common trade currency to counter the dollar. so, could they become the trading block of the future? i m going to be discussing all of that and more with these two. there they are. the man who first coined the phrase the brics, and a former central bank economist from brazil. also on the show, shining bright like a diamond. yeah, the shiny rocks have been one of the
south africa and russia largely failing to reach their potential. but the story for india is different. last year, india s expanding economy overtook the uk s, making it the world s fifth largest. a trend predicted to continue with banking giant morgan stanley forecasting that india will push past germany and japan to become the third biggest economy by 2027. building on impressive numbers like the just under 7% growth predicted for the past year, as the economy, of course, bounces back from the pandemic. and india, it s forecast to get well over 6% this year, 2023. maybe a slight slowdown, but let s put this into perspective. the outlook for the entire global economy this year is under 2%. so now some of those brics economies are really steaming and challenging the american global dominance. if trends continue, they could represent the major global economic club for the future. this year, the group
are really steaming and challenging the american global dominance. if trends continue, they could represent the major global economic club for the future. this year, the group is chaired by south africa, and here is our man in the economic hub, johannesburg. with south africa s president, cyril ramaphosa, holding the chairmanship of brics this year, his main agenda is to advance africa s interests within the bloc, and those interests could include unlocking the potential of intra africa trade. but much more investment is needed within the continent for that to happen. ramaphosa has also stated that he wants to invite other african countries to the summit. more countries could soon be joining the group as well. there are reports that there are up to 12 nations who would like to be part of the bloc. the likes of turkey, algeria, argentina and even saudi arabia have made overtures to brics. in future, the group could be called brics plus, or another name altogether.