Data & financial journalist covering global economics and policy
Abenomics is Japan’s answer to its lost decade.With more than two decades of financial turmoil and big bang reforms, Japanese prime minister,Shinzō Abe proposed Abenomics, a term named after him.This is a very quick overview on what abenomics is just before the final verdict of its acceptance on June14th 2013.
The year 2008 marked the advent of a financial crisis that began with a subprime scandal and mistakes made by credit rating agencies followed by the excesses of a financial capitalism that got seriously off track. This included the dissimulation of risks, unverified and highly complicated financial instruments, legal loopholes and the persistence of tax havens attracting a share of world savings that would be more justly used to finance investments and growth.In 2008, IMF had reported that these terrible lapses will cost the international banking system about a trillion dollars in the long-term.
A small focus on what Austerity is about and how Portugal is facing hard times after Greece and Ireland. Different economists have different analysis to make but traditional theories remain intact and this world meltdown seem to be questioning some theoretical approaches towards a more practical world.
With the financial turmoil all across economies, Brazil, Russia, India, China and South Africa( popularly known as BRICS) remain the largest contributor in the world’s GDP i.e. 25% of global GDP and also 40% of the world’s population. With the recent meet in Durban, many contrast views have been expressed regarding to the aims and objectives of BRICS and whether it will be big as G7 by 2025 This article highlights a review on the same and its comparison to the Euro zone.