BRICs Will Be ICs If Brazil and Russia Don't Shape Up

[madooxno9]

Exactly right.

BRICs is just an investment term created by Goldman Sachs.

The better one for geopolitics is the SCO.

It was coined by Glodman Sachs but BRICs is a reality now. Lets not mix BRICs with SCO. BRICs is really for long haul and such stupid articles does not change the fundamentals. Long live the BRICs.

 

[Shotgunner51]

Exactly right.

BRICs is just an investment term created by Goldman Sachs.

The better one for geopolitics is the SCO.

Right. More serious works should be done about SCO. Remove the trade barriers, build transportation links, bring in new members, form a bank, more currency-swap, establish a EU-like headquarter.

Since members have less hostilities vs each other, or even are buddies, things are much smoother,

 

[Shotgunner51]

Looking from a different perspective, let's how BRICS' members treat this "organisation":

Brazil to BRICS - The distance is way more than just geographical, they don't interact much with the other 4

South Africa to BRICS - Same as above, in fact they even stay closer to the West

India to BRICS - The West is drawing it away from Russia, and India hates China to its guts

Russia to BRICS - Try to look away from Europe and seek some comfort

China to BRICS - alone weight >60% of the "group", normal trade, shake hands, take photos, what else?

The last two, the west-advocated couple, are what's left lonely in the "group" that's actively building in trade with each other, rubbing each others' shoulder to stay warm. So BRICS is nothing but a term, nice dinners, happy photos, that's all of it.

 

[Echo_419]

No, exports make up only 26% of our GDP, which is fairly low. For example, exports make up 30% of Britain's GDP. And our exports are not primarily based on commodities like oil and raw materials, but on manufactured goods.

That's why our economic growth rate has not been as volatile as the other BRICs, we are still the highest.

India's growth rate fell to 4-5% a few years back during the Eurozone crisis, and the Rupee fell from 39 to 62 recently as well (when the Fed hinted they might reduce the stimulus). You were hit far harder than we were by global economic shocks.

We are still adding the most to global GDP every year (by far) at over $1 trillion per annum.

The effect of European recessions was not as severe as the policy paralysis at home

 

[Dreamerx]

What about South Africa ?

 

[ganesh177]

Indonesia and Pakistan should be included

 

[farhan_9909]

What is wrong?Pakistan will eventually be among the biggest GDP in the world 50years from now.

Infact watch out for our GDP when we change the Base year this year.

 

[Shotgunner51]

What is wrong?Pakistan will eventually be among the biggest GDP in the world 50years from now.

Infact watch out for our GDP when we change the Base year this year.

Unlike the concept of BRICS which is hollow, solid actions plans are involved in the design of game plans like Maritime Silk Road and New Silk Road (Eurasian economic bloc). Removal of trade barriers, transportation links, central bank, currency swap, re-distribution of industries etc. Pakistan is right in the cross-road of the two game plans as said, and should be pivotal to elevating regional prosperity.

That's why I suggest SCO to enrich its color as a trade bloc, bringing Pakistan, Iran etc., into the group. Good foundation of mutual trusts and friendship with further smoothen the co-ops.

 

[ito]

What is wrong?Pakistan will eventually be among the biggest GDP in the world 50years from now.

Infact watch out for our GDP when we change the Base year this year.

BRIC sound better than PRIC...

I am not that bullish on Pakistan. There are lot of good thing going for Pakistan such as demographics...but Pakistan is very unstable. You guys lost a decade and half to WOT, and there are no signs that Pakistan is back on track.

Unlike the concept of BRICS which is hollow, solid actions plans are involved in the design of game plans like Maritime Silk Road and New Silk Road (Eurasian economic bloc). Removal of trade barriers, transportation links, central bank, currency swap, re-distribution of industries etc. Pakistan is right in the cross-road of the two game plans as said, and should be pivotal to elevating regional prosperity.

That's why I suggest SCO to enrich its color as a trade bloc, bringing Pakistan, Iran etc., into the group. Good foundation of mutual trusts and friendship with further smoothen the co-ops.

BRIC has no unifying thread. China and India being rivals, BRIC cannot have unifying objectives. Sooner or latter BRIC will come apart. SCO is the way forward for China but again it should not have India in it.

 

[farhan_9909]

BRIC sound better than PRIC...

I am not that bullish on Pakistan. There are lot of good thing going for Pakistan such as demographics...but Pakistan is very unstable. You guys lost a decade and half to WOT, and there are no signs that Pakistan is back on track.

Worldbank has projected 5.5% growth rate for india this year and 5.4% for us.Our economy has almost recovered

World Bank Projects 5.4% Growth rate for Pakistan, FY-2014

 

[ito]

Worldbank has projected 5.5% growth rate for india this year and 5.4% for us.Our economy has almost recovered

World Bank Projects 5.4% Growth rate for Pakistan, FY-2014

Above 5% growth rate is unsustainable for Pakistan. Unless there is no stability, growth cannot be sustainable.

 

[Shotgunner51]

BRIC has no unifying thread. China and India being rivals, BRIC cannot have unifying objectives. Sooner or latter BRIC will come apart. SCO is the way forward for China but again it should not have India in it.

Right, absence of unified thread, BRICS nothing but an i-banker term for them to pitch clients.

No, China does not see India as equivalent rival, weight differs too much, but see it as potentially one of the many countries that the West will use in geopolitical containment.

 

[ito]

Right, absence of unified thread, BRICS nothing but an i-banker term for them to pitch clients.

No, China does not see India as equivalent rival, weight differs too much, but see it as potentially one of the many countries that the West will use in geopolitical containment.

We see things differently. We see India as a decade behind China. China too was $2 trillion dollar in 2004 and it is now $10 trillion. We see ourselves beating China as India is relatively young compared to China.

 

[cirr]

But isn't China in the same boat too? Its economy depends mainly on exports rather than internal markets.

It is the net export that counts.

By this measure, net foreign trade accounts for a tiny portion of the Chinese economy.

This means that if and when China stops importing, many countries will suffer as a result.

These economies will go down with the Chinese economy, and India is no exception.

India，an economy supposedly relying on domestic consumption，has done worse than China even when weak external demands were supposed to exact a heaveri toll on the latter in the past few years。

 

[Dreamerx]

We see things differently. We see India as a decade behind China. China too was $2 trillion dollar in 2004 and it is now $10 trillion. We see ourselves beating China as India is relatively young compared to China.

And growing at a good , steady pace... This is how we roll