Data and Financial Journalist
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?
2015 will be a year that will test many emerging economies like Brazil, Russia and China. Advanced countries will take measures to revive past growths and try to remain in the race. Low oil prices will lower inflation in many economies but will raise concerns in many others.
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.
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.