''The BRIC countries
are in trouble. For a season the dynamos of international growth while
the West was mired in the worst financial crisis and recession since the
Depression, they are now the leading source of anxiety in the
headquarters of the IMF and the World Bank. China, above all, because of
its weight in the global economy: slowing output and a himalaya of
debt. Russia: under siege, oil prices falling and sanctions biting.
India: holding up best, but unsettling statistical revisions. South
Africa: in free fall. Political tensions are rising in each: Xi and
Putin battening down unrest with force, Modi thrashed at the polls, Zuma
disgraced within his own party. Nowhere, however, have economic and
political crises fused so explosively as in Brazil, whose streets have
in the past year seen more protesters than the rest of the world
combined..''
No comments:
Post a Comment