Brics: Are There Any Disappointments In Emerging Economies?

The leaders of the BRICs and the leaders' dialogue meeting of the member states of the "multi Bay Economic and Technological Cooperation Initiative in the bay of Bengal" were held in Goa, India.

If China can cope with the risk of deflation, it will be able to manage the debt problem as a topic.

Fortunately for China, other countries are looking forward to China's success.

Former Goldman Sachs Asset Management Co chairman Jim O'neal entitled "

The article says that BRIC economies account for 20% of the world's economy.

The mechanism regularly convened summits and carried out specific cooperation, including the creation of new development banks.

In recent years, these countries have had difficulties in economic development, but as Jim and O'neal said, the importance of this mechanism should not be underestimated.

This year is Jim O'neal creating the concept of "BRICs" which refers to Brazil, Russia, India and China. 15th Anniversary

Later, South Africa also added into the "BRICS".

Are these emerging economies disappointing?

Let's take a look at Jim O'neal's question of antibiotic resistance (AMR) in the production of the British Prime Minister Cameron.

If there is a serious threat to health and no country can develop the economy, it is urgent to study the countermeasures.

In early September, at the G20 summit in Hangzhou, China, South Africa became the main supporter of the UK's discussion on antimicrobial resistance.

Without South Africa's support, the issue might not be able to write the joint declaration.

This is the point.

It can be said that BRICs are playing an extremely important role in tackling urgent international issues.

On the other hand, BRICs basically did not convey representatives to international agencies such as the IMF and the world bank.

In this way, it can not be called "global governance".

The BRIC countries have been in a difficult period recently, the article said.

Over the past 10 years, the economic performance of Brazil and Russia has been particularly disappointing. Many people even believe that the BRICs have been unworthy of the name.

However, the importance of BRICs should not be overstated.

The aggregate of the four countries

Basically in line with Jim O'neal's prediction at that time.

If India continues to maintain growth, the implementation of reasonable structural reforms may bring about two digit growth.

China's economy has recently slowed down, but if the annual growth rate remains 6% before 2020, it is also consistent with the long-term forecast of Jim O'neal.

The article points out that China's economic development is in line with most countries, especially the interests of countries that can export goods and services to Chinese consumers.

The rise of Chinese consumers may be today.

The most important variable.

In fact, it is more important than the economic problems of Europe and Japan and whether India can continue to exert influence in the world.

Obstacles to growth and development in BRICs countries include many other factors, such as antibiotic resistance, health threats, education problems and the number of representatives of global governance agencies.

Global policymakers should help eliminate these problems and ensure that BRICs can exert their potential influence.