The changing relations of China and Russia are also not based purely through partnerships but also through their support in each another’s projects. Russia has been supporting China’s ambitious infrastructural projects like the Silk Road project and the Eurasian integration project, which connects China with Europe via Russia.
China’s leaders now aim to transform China into one of the world’s leading industrial powers by 2045 and for this, a new business model will be designed. By doing this, it aims to reduce and eventually overcome the country’s dependence on cheap manufacturing and instead focus on advanced industrial goods for markets. Not only this, China has for long been building knowledge-based economy, driven purely by innovation and domestic consumption. But its real estate sector still consists of ghost towns and dozens of unleased commercial spaces.
The whole purpose of BRICS New Development Bank is to be self sufficient and rely less on western economies. The world’s reserves has shrunk from 90% (2004) of dollar denominated securities to 60% in 2014. But, the growing tension individually in the member countries could easily defeat the purpose for which it was originally formed. Some debate that this small initiative (formation of BRICS) could be a big challenge for the advanced economies.
With India having the world’s second largest population and the maximum number of poor people in the world, the Indian budget 2015 could be a turning point for the poor and the unemployed. While many have supported the budget, others have criticized it for being very ‘pro-corporate’. The Indian Budget has been more or less termed as “stable” in its approach allowing more public spending through emphasis on strategic plans that could modernize India’s infrastructure.
As emerging markets enter turmoil, questions regarding BRICS remain unanswered. China was known for being the second largest economy that could drive the asian markets towards infrastructural growth and development. But this year some troubling news from mostly all the emerging markets with Brazil’s debt being reduced to “junk” status. What started, as a pompous affair of five nations coming together in support of one another’s infrastructural needs, now appears to be more of a promotional event.
Six years of the financial turmoil has given a reason for many debates, research, arguments, discussions and even research work to many. To many nothing has really changed, in fact to them, we might be looking at something more serious in 2015. The question that is important is whether there is any truth to the occurrence of second financial crisis or are we just in denial?
With the talks of a New Development Bank in China, BRICS has managed to raise some questions. Will the association of emerging markets manage to create stir in the the global economy or will it be another alliance of economies that just have meetings over nothing. Amidst many criticisms, economies of Brazil and Russia can pose more complication than contribution to the group. But it is definitely too early to completely write off BRICS.
On October 30, 2014 Paul Krugman wrote in New York Times ” Japan used to be a cautionary tale, but the rest of us have messed up so badly that it almost looks like a role model instead.” Japan’s economy has been in coma for the past 20 years and its revival has been the focus of many debates and case studies (and many criticisms). With promising reforms like Big Bang and Abenomics, it is important to check whether Japan has overcome some hurdles or whether the reforms proved to be a complete failure.
This article focuses on three economies that have been discussed a lot lately : India, China & USA. India and China are considered as emerging economies but have issues like population and poverty. We compare India & China to USA using IMF reports released in April, 2014 and information provided in Index of Economic Freedom, an annual guide published by The Wall Street Journal ,IMF data and The Heritage Foundation.
2014 witnesses general election in nine phases in India. Of course, no party ever wins with a majority and usually alliances form the government. However, the battle amongst Indian National Congress (Congress), Bhartiya Janata Party (BJP) & debutant Aam Aadmi Party (AAP) has created headlines. Indian markets keep a close watch on may 16 since it will decide the fate of the country.
2014 remains a year of expectations and recoveries since many economies will be witnessing the effects of amendments made in the previous year.This article focuses on the economies that can make it big in 2014. The article focuses on 3 economies that can be the largest in the world. The analysis is based on secondary research findings.The article is purely research based and any comments on the article are more than welcome!
The new state government in Delhi, Aam Aadmi Party( AAP) has blocked retail FDI in Delhi thus disappointing many industrialist, Investors, political parties and maybe even farmers who are longing for fair prices for the products sold by them to the middlemen.The article focuses the basics of FDIs and argues the step taken by the State Government of Delhi.
India has one of the largest and fastest growing economes. It is one of the members of BRICS and forms a part of G-20. With a huge population, India now faces a high Inflation rate of 9.39% (CPI) as in April 2013 and a high CAD (Current Account Deficit). Eurozone crisis and in-house politics worsen matters further. Is all well in India? A brief & closer look at what is happening.
