Shifting Powers

The combined GDP of the BRICS economies(Brazil,Russia,India,China and South Africa) will surpass the combined GDP of the G7 economies (Usa,Germany,Japan,Italy,France,Russia and Uk) already in 2014,16 years(2030) earlier of what Goldman Sachs was just predicting ten years ago.
Something which really shows how the great recession of 2008/2009 has been anything but global and how it only acceleratd the decline of the western economies.

What drives employment? New firms !

Contrary to the popular belief that small firms are the greatest job creators,a new research by a group of the economist has concluded that its actually young companies,especially start-ups,that drive the effect attribuited to small firms.Unfortunatly start-ups havent been pulling their weight in the recent economic recovery in the G7.The reason?This recession wasnt caused only by slack demand but by a massive credit crunch.That purticulary hurt start-ups the sort often finacied by credit cards and home-equity loans.Just another reason why jobs have been so slow to return in the developed world.