China is exception in bleak picture for BRICS nations

Country will be the only one in emerging markets bloc to break out of income trap

China is the only one of the emerging BRICS nations (Brazil, Russia, India, China and South Africa) that is likely to break out of the middle-income trap, Ruchir Sharma believes.

The head of emerging markets and global macro at Morgan Stanley, however, says it will still be a difficult journey for the world's second-largest economy.