BRICS – a club for future Superpowers
History was made in 2011 with the formal inclusion of South Africa in the global country grouping known as BRICS (Brazil, Russia, India, China, & South Africa).
South Africa seems to have jumped the queue, as several developing countries with both larger economies and/or larger populations may have been considered to join this elite club of emerging superpowers.
Dr Roelof Botha provides some insights into the reasons for South Africa’s membership of BRICS, as well as potential advantages for the economies of the whole of Southern Africa, whilst also highlighting the near-spectacular rise in importance of the so-called “emerging markets”.
Global economic growth to continue
During the past month, global financial headlines have been dominated by the furore surrounding the downgrading of US debt and ongoing concerns over the size of sovereign debt in a number of European countries.
As a result, financial & equity markets have been exceptionally volatile, but the potential negative economic effects of the fiscal dilemma in the US & the Euro area seem to have been exaggerated.
It is important to recognise fundamental differences between this sovereign debt problem and the circumstances that ultimately led to a brief global recession between the end of 2008 and the first half of 2009, most notably the return to positive real economic growth and record low US bond yields.
An in-depth analysis by Dr Roelof Botha of global macroeconomic trends and the fiscal affairs of the world’s most influential economies indicates that solutions to the sovereign debt problems are at hand and that fears of a return to recession are unfounded.
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