The United States, Japan and the European Union have long been regarded as the leading economic powers in the world. Referred to as ‘The Triad’, this group of nations represents the largest economic power bloc in the world. With strong economic controls, they are able to grow their economies in measured steps. This is in stark contrast to the growth of many BRIC (Brazil, Russia, India and China) countries whose growth is rapid and often uneven in both tempo and regional development (Dhaval 2010).

The United Kingdom, traditionally allied with the Triad, has both opportunities and threats from the emerging BRIC nations. These include challenges to existing industries within the United Kingdom itself and also in competition with usual export markets for their goods, prompting GDP growth. However, with the competition also come expanded markets and niches where the United Kingdom may be able to compete to sell goods.

The different sectors of the United Kingdom will be affected by the power shift in different ways. The main sectors will have to compete for raw materials in an increasingly competitive market, which will cause prices to rise. However, the services and technology sector, especially in the areas of software development and higher education may well experience a boom, as they are in high demand, require an educated work force and do not rely on primary resources (An Overview of the BRIC Economies 2010). The well educated middle class demographic could do well from such a boom.

Overall, however, the BRIC economies represent a rising threat to the stability of the global economy and to international trade. While the Triad have undergone their own trials, with the Global Financial Crisis, Greek bailouts and Japanese ‘Lost Decade’, they have at least managed to some degree. With the possible exception of China, the rest of the BRIC lack sufficient controls over monetary and fiscal policy to correct the problems that might befall them.