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BRICS Fight Waning Clout With $150 Billion Deal at Summit
By Raymond Colitt and Unni Krishnan Jul 14, 2014 3:32 PM ET 14 Comments Email Print
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Photographer: Alexander Vilf/Host Photo Agency via Getty Images
BRICS delegation heads at a meeting in St. Petersburg, Russia, on Sept. 5, 2013.
The leaders of five of the world’s largest emerging markets will showcase a new currency reserve fund and development bank this week. Critics say neither is enough to revive the group’s waning clout.
http://www.bloomberg.com/news/2014-0...il-summit.html
China Riled by West Hitting the Brics
By Jerin Mathew
July 14, 2014 11:27 BST
2 3 1
Claims made by certain politicians in the West that the five Brics economies - Brazil, Russia, India, China and South Africa - are fragile and fading are totally "unfounded" and are a serious "mis-judgment of world economic development", China's Xinhua news agency has stated.
"Because of their crucial structural adjustment and changes in the international financial situation, especially the US tapering of quantitative easing measures, some BRICS countries have registered slowing economic growth and faced difficulties in their growth," stated an opinion piece in state-run Xinhua.
"However, it would be short-sighted for West politicians to draw a conclusion that the Brics miracle is over."
The news agency highlighted the fact that even with slowing growth, the Brics economies still expand twice as fast as developed countries.
http://www.ibtimes.co.uk/china-riled...-brics-1456553
Opinion: BRICS, one step towards a new world order
Mohan Guruswamy | July 14, 2014, 16.07 pm IST
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Prime Minister Narendra Modi meets delegates enroute to the BRICS meeting in Brazil. Photo: AP
The Prime Minister, Narendra Modi, will be taking part in his first BRICS summit meeting. BRICS has been a frequently occurring acronym in our discourse in the recent years. But not many seem to have grasped the reality of BRICS and its utility.
The post Cold War era has seen the economic and political rise of a host of nations, Brazil, China and India being foremost among them. Since 2000 and the advent of Vladimir Putin, Russia has with some help from soaring oil prices made impressive economic gains. The new South Africa, based equally on the industrial inheritance of the robust but unequal and exploitative apartheid regime and the bounty of nature, now finds itself as an advancing economic power. Unlike Nigeria that has frittered its oil wealth and has been looted by its native kleptocracy, South Africa has been a relative symbol of responsible government and probity in public life. Each one of these nations is now a major economic player and some already have bigger GDP’s than many in the G-7. Together, in the quarter of a century or so the BRIC’s will outstrip the G-7.
http://www.deccanchronicle.com/14071...ew-world-order
By Raymond Colitt and Unni Krishnan Jul 14, 2014 3:32 PM ET 14 Comments Email Print
Google+
Save
Photographer: Alexander Vilf/Host Photo Agency via Getty Images
BRICS delegation heads at a meeting in St. Petersburg, Russia, on Sept. 5, 2013.
The leaders of five of the world’s largest emerging markets will showcase a new currency reserve fund and development bank this week. Critics say neither is enough to revive the group’s waning clout.
http://www.bloomberg.com/news/2014-0...il-summit.html
China Riled by West Hitting the Brics
By Jerin Mathew
July 14, 2014 11:27 BST
2 3 1
Claims made by certain politicians in the West that the five Brics economies - Brazil, Russia, India, China and South Africa - are fragile and fading are totally "unfounded" and are a serious "mis-judgment of world economic development", China's Xinhua news agency has stated.
"Because of their crucial structural adjustment and changes in the international financial situation, especially the US tapering of quantitative easing measures, some BRICS countries have registered slowing economic growth and faced difficulties in their growth," stated an opinion piece in state-run Xinhua.
"However, it would be short-sighted for West politicians to draw a conclusion that the Brics miracle is over."
The news agency highlighted the fact that even with slowing growth, the Brics economies still expand twice as fast as developed countries.
http://www.ibtimes.co.uk/china-riled...-brics-1456553
Opinion: BRICS, one step towards a new world order
Mohan Guruswamy | July 14, 2014, 16.07 pm IST
inShare
Printer-friendly version
Send by email
Prime Minister Narendra Modi meets delegates enroute to the BRICS meeting in Brazil. Photo: AP
The Prime Minister, Narendra Modi, will be taking part in his first BRICS summit meeting. BRICS has been a frequently occurring acronym in our discourse in the recent years. But not many seem to have grasped the reality of BRICS and its utility.
The post Cold War era has seen the economic and political rise of a host of nations, Brazil, China and India being foremost among them. Since 2000 and the advent of Vladimir Putin, Russia has with some help from soaring oil prices made impressive economic gains. The new South Africa, based equally on the industrial inheritance of the robust but unequal and exploitative apartheid regime and the bounty of nature, now finds itself as an advancing economic power. Unlike Nigeria that has frittered its oil wealth and has been looted by its native kleptocracy, South Africa has been a relative symbol of responsible government and probity in public life. Each one of these nations is now a major economic player and some already have bigger GDP’s than many in the G-7. Together, in the quarter of a century or so the BRIC’s will outstrip the G-7.
http://www.deccanchronicle.com/14071...ew-world-order
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