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Emerging Markets Unite!

Friday, March 29, 2013

The BRICS emerging markets coalition meets in South Africa, March 2013 (governmentza)

The so-called BRICS nations of Brazil, Russia, India, China, and South Africa have indicated that they want to form a development bank of their own to rival the World Bank and IMF. Uri Dadush, director of Carnegie Center’s International Economics Program, discusses what the emerging-markets coalition would mean for the world economy. Plus: what the IMF's statement about energy subsidies means for development and the environment.

Guests:

Uri Dadush

Comments [5]

Taher from Croton on Hudson

jgarbuz from Queens, OK.
I guess you are not into facts:
http://www.therichest.org/world/worlds-largest-economies/
http://money.cnn.com/news/economy/world_economies_gdp/
Again China is #2, sorry.

Mar. 29 2013 11:45 AM
jgarbuz from Queens

To Taher

Add up the GDPs of China, India, Russia, Brazil, and South Africa, and you will find that they add up to roughly that of the GDP of the US. Now, of course, in the future the US share will not keep up with that of the BRICS, but we are talking about right now.

Mar. 29 2013 11:05 AM
Taher from Croton on Hudson

jgarbuz from Queens, again you are making up your facts. Opinions are not facts.

GDP in trillion dollars:
US: $15.7
China: $8.3
China is a member of BRIC and it is project to
Have the largest global GDP sometime within the next 4 years.
http://www.guardian.co.uk/business/2012/nov/09/china-overtake-us-four-years-oecd

Mar. 29 2013 10:56 AM
jgarbuz from Queens

The US economy is still, even now, equal in size to all of these BRICS put together. The US economy is still equal to that of China, India, Russia, Brazil, and South Africa combined. Both the US and the BRICS make up 20% each of the global economy. But it is good that they want their own development bank. Why not? The ones that lose out are western bankers. But, so what? Let them risk their own capital on each other.

Mar. 29 2013 10:36 AM
whoa

Yea! this bunch looks like it could show the EU how it's DUN!

Mar. 29 2013 10:02 AM

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