They say developing countries are set to overtake economic giants such as the US. Don't be too sure, says GWYNNE DYER
YOU HAVE to hand it to the economics team at Goldman Sachs. It was they who came up with the concept of the "BRICs": the four countries – Brazil, Russia, India and China – that were going to catch up with and then overtake the big economies of the developed world.

More recently, they added the "Next 11": middle-sized developing countries such as Turkey, Indonesia and Mexico that will also grow fast enough to overtake their old-rich counterparts in the next generation.