New Holes in the BRICS

In response to Brazil is World's 6th Largest Economy, Overtaking UK Earlier this Year. Can Brazil Overtake France by 2016? What about BRICs in General? I received a nice email from Felipe Fiel, an economist from Brazil working in the hedge fund industry for Fram Capital. Felipe writes ...

Yves here. The viewpoint expressed in this article will not go over well in some circles, since the BRICs have insisted that they have the same right to pollute as much as first world countries did in getting to their living standard. But the problem is the planet cannot remotely support everyone in emerging economies living at first world living standards, at least the way we produce them now. And that isn’t operative only the energy and greenhouse gasses fronts. We’ll all need to eat lower down on the food chain as well.

By Matt Schilling:On Tuesday, October 16th, Jim O'Neill of Goldman Sachs Asset Management noted that the BRICS (Brazil, Russia, India, China and South Africa) nations are very close to developing their very own multilateral bank. According to an article featured on Bloomberg.com,

Much has been said about the slowdown in manufacturing in China which has caused stock markets in China to slump as well as fan worries about a worsening global economic picture.   A structural slowdown has certainly taken hold, but most analyses have only focused on slowdowns in manufacturing and fixed [...]

PARIS (Reuters) - China and India have entered more marked economic slowdowns while growth continues to moderate in most major industrial economies, the OECD said on Monday. The Paris-based economic think-tank said its composite leading indicator for China, which provides a measure of future economic activity, eased to 99.2 in May from 99.4 in April, slipping further away from the long-term average of 100. For India, the indicator fell to 97.8 from 98.0, also below the long-term average of 100. "Composite leading indicators ... ...

Leaders of the emerging world met in India Thursday to discuss creating a new development bank, at a summit in which the bloc will seek to convert its economic might into collective diplomatic clout.The leaders of the BRICS countries -- Brazil, Russia, India, China and South Africa -- are attending the fourth meeting of the bloc, a key non-Western alliance that is looking to extend its influence.Top of the agenda was the creation of the grouping's first institution, a so-called "BRICS Bank" that would fund development projects and infrastructure in developing nations.

Emerging economies which make up the BRICS group will discuss possible aid to the European Union to help it confront its debt crisis, Brazilian Finance Minister Guido Mantega said on Tuesday."The BRICS nations will meet next week in Washington and we will discuss how to help the European Union get out of this situation," he said. The BRICS nations comprise Brazil, Russia, India, China and South Africa.