The Economist produced a telling graphic that shows the composition of world trade from 2007 to the present day. What is significant is the share of world growth from the BRICS countries – Brazil, Russia, India, China and South Africa. The developed world which is made up of 23 countries contributed just 20% over the same time period. This is mainly due to levels of debt and austerity measures. However the BRICS have contributed 55% of world growth.