Alicia Gª Herrero (Natixis) | After a sleepless night, the New Delhi Declaration was adopted unanimously at the eighteenth BRICS summit on September 12, after managing to find language that Iran, Saudi Arabia and the United Arab Emirates could all live with. That was the ceremony but the real action happened on the margins, where Narendra Modi received Xi Jinping for the first Chinese visit to India since 2019, and the…
Banca March: More than 60 developing countries from Latin America, Africa and Asia are attending the meeting, which has been running since Tuesday and will continue until Thursday. During these days, the BRICS are considering adding new members from among 23 possible candidates that have not yet been revealed, although there is speculation about countries such as Iran, Venezuela and Saudi Arabia, among others. The terms of admission remain undefined,…
Spain can’t imitate Germany in a context in which Europe is a closed zone where countries export to each other. And Spain is unlikely to become another Germany because the Spanish production model is still based on low productivity.
BoAML | One of the most popular ideas in emerging markets economics is grouping Brazil, Russia, India and China together. Here we argue that grouping these very different economies together for economic forecasting was never very useful in the first place. The only thing they have in common is size. The recent divergence in the group makes it even less useful.
Caixin | As two of the most significant economies driving global growth today, commentators often compare the emerging market behemoths, China and India. In recent times, the two countries have eclipsed Brazil, Russia and South Africa, their BRICS counterparts, in terms of economic growth. However, there are significant differences between the two Asian economies.
Which countries are poised to become the next high-growth developing markets?Until recently, when people talked about “emerging markets,” they were referring to the BRIC economies: Brazil, Russia, India and China. Undeniably, these countries have changed the face of global business over the past 20 years. Yet lately, the BRICs have been crumbling a bit, sparking many reports about their lackluster performance.
Richard N. Cooper via Caixin | Fourteen years ago, Jim O’Neill of Goldman Sachs coined the term BRIC to stand for Brazil, Russia, India and China – four large emerging economies that might together shape the world economy in the future. With the later addition of South Africa, they came to the agreement in 2015 to create a BRICS bank.
Alberto Forchielli via Caixin| The BRICS, MINT and others are nice, but CIVET is better because it has Vietnam, the happy exception to recent slowdowns.
It is ironic that trade and investment flows within BRICS countries—Brazil, Russia, India, China and South Africa—continue to disappoint, even though economics was the primary reason for the formation of the grouping.