BRICs Will Be ICs If Brazil and Russia Don't Shape Up

[Shotgunner51]

that's why i think the BRICS bank is important to the global financial structure which was built single-handed by US with Bretton Woods Conference in 1944. though 'BRICS' the grouping doesn't make much sense, it does represent some rebellion effort to challenge the post war US-led West global financial institutions, which the action itself has very profound meaning.
actually, if WB and IMF had functioned just fine, China and many other Asian countries wouldn't have needed to accumulate such huge pool of foreign reserves. WB & IMF are already notorious for their extremely slow reaction to crisis .....

and we all know what US means when they say 'international', don't we?

Yeah right, what do you expect when neo-conservative warhawks like Paul Wolfowitz and the likes took position as WB presidents ...

 

[tranquilium]

Using a lump growth calculation for BRIC is stupid. All four countries have completely different economic models and focuses.

 

[opruh]

By removing India, it will be the best group ever.

 

[AgentOrange]

The greatest thing that will go good for India is its large population. Even a small increase in per Capita will have multiple effect on overall India's GDP.

And how will India provide jobs for its large population? Are they all going to be software engineers? Manufacturing is the only thing that can employ such large numbers since these people will be overwhelmingly uneducated/unskilled. And we're already seeing that as some manufacturing moves away from China, it's no sure bet that they will choose India by default. Many South East Asian countries are attractive destinations with better infrastructure and, in a lot of cases, with wages just as low as what India can offer.

A large population is a double edged sword. And a large population that is unemployed or underemployed is a single edged sword with the blade pointed directly at yourself.

 

[Echo_419]

And how will India provide jobs for its large population? Are they all going to be software engineers? Manufacturing is the only thing that can employ such large numbers since these people will be overwhelmingly uneducated/unskilled. And we're already seeing that as some manufacturing moves away from China, it's no sure bet that they will choose India by default. Many South East Asian countries are attractive destinations with better infrastructure and, in a lot of cases, with wages just as low as what India can offer.

A large population is a double edged sword. And a large population that is unemployed or underemployed is a single edged sword with the blade pointed directly at yourself.

Whoever thinks that India can be developed without Manufactring (from piss poor low to high tech Manufactring) should be executed for Stupidity & in agree with your last point a large population like ours is a double edged sword

 

[ito]

And how will India provide jobs for its large population? Are they all going to be software engineers? Manufacturing is the only thing that can employ such large numbers since these people will be overwhelmingly uneducated/unskilled. And we're already seeing that as some manufacturing moves away from China, it's no sure bet that they will choose India by default. Many South East Asian countries are attractive destinations with better infrastructure and, in a lot of cases, with wages just as low as what India can offer.

A large population is a double edged sword. And a large population that is unemployed or underemployed is a single edged sword with the blade pointed directly at yourself.

I understand what you are saying. I took everything into account when I said India is able to provide jobs to its large population. There was an article a week ago in Financial Times on India's investment in Manufacturing. You would know how much Modi government is taking efforts to establish India as global Manufacturing hub.

By removing India, it will be the best group ever.

Another stupid Bangladeshi

 

[Chinese-Dragon]

Whoever thinks that India can be developed without Manufactring (from piss poor low to high tech Manufactring) should be executed for Stupidity & in agree with your last point a large population like ours is a double edged sword

Yes, mass manufacturing is an essential part of the development process, UK/America/Japan etc all went through it.

Because mass manufacturing is the only thing that can provide hundreds of millions of low skilled and low paid jobs in a developing country, and it is one of the best methods of urbanization (encouraging rural workers to move to the cities).

Urbanization is necessary for development, since infrastructure becomes more efficient when the population becomes urbanized. Infrastructure in rural areas is inefficient because people are too spread out, you need to build 10x more roads and 10x more water pipelines, electricity lines, hospitals, etc.

Mass manufacturing also requires (and promotes the creation of) an efficient and competitive national infrastructure base, which is another way countries become developed.

So India needs to attract more low-level manufacturing, which is leaving China and moving to SE Asia as we speak.

 

[AgentOrange]

Don't get distracted bros, this fortune telling contest is meaningless.

Let's focus on other E Asian countries (JP+4 dragons):
One, they are world advanced economies, serious benchmarks, same culture, all make them great while feasible targets to match.
Two, they are China's geopolitical flip opportunities in the grand chess board.

Focus on Eurasia. SCO, Pakistan, Iran, etc., can form a highly competitive economic bloc. Moreover, similar geopolitical pursuits, traditional friendships make things way easier to realize. No predictions needed, just work it out.

Bro, I think Chinese Dragon was simply injecting a much needed dose of realism to the discussion.

Whoever thinks that India can be developed without Manufactring (from piss poor low to high tech Manufactring) should be executed for Stupidity & in agree with your last point a large population like ours is a double edged sword

IMO, China was blessed with good timing. When China became the world's factory, no other developing country could offer the same economy of scale, infrastructure, low wages, government tax breaks, and minimal government red tape/bureaucracy that China could. Add to that a shared cultural background and affinity with the now first world Asian tigers (and Japan) and you have an extremely appealing investment destination at a time when those aforementioned nations were looking for a manufacturing base for their products.

Furthermore, we had Deng Xiaoping - a true visionary who had the stones to do what it took to make sure nothing derailed China's economic expansion. IMO, Deng Xiaoping was the greatest Chinese leader of the 20th century, bar none, and he had the revolutionary credentials to make the necessary painful economic changes that couldn't be opposed by any of his political opponents. (But that's for another discussion )

I'm not doubting that India can be a manufacturing hub but there will never be a "China part 2" in the sense that once low end manufacturing starts moving away from China, there will never again be one single nation to capture all of it. India has its work cut out for it since it has to deal with competitors in the form of SE Asian nations as well as advances in technology that allow manufactures to save money while staying in their home countries (i.e. 3d printing). It will be interesting to see how India manages its challenges ahead and if it can capitalize on its demographic dividend - or indeed, if it's a dividend at all.

 

[opruh]

I understand what you are saying. I took everything into account when I said India is able to provide jobs to its large population. There was an article a week ago in Financial Times on India's investment in Manufacturing. You would know how much Modi government is taking efforts to establish India as global Manufacturing hub.



Another stupid Bangladeshi

I'm Filipino idiot.

 

[Chinese-Dragon]

Furthermore, we had Deng Xiaoping - a true visionary who had the stones to do what it took to make sure nothing derailed China's economic expansion. IMO, Deng Xiaoping was the greatest Chinese leader of the 20th century, bar none, and he had the revolutionary credentials to make the necessary painful economic changes that couldn't be opposed by any of his political opponents. (But that's for another discussion )

I agree sir, and I am really hoping that Xi Jinping becomes the "next" Deng Xiaoping.

Luckily our economic reforms seem to be following 100% the right path, I just hope it continues.

 

[AgentOrange]

I agree sir, and I am really hoping that Xi Jinping becomes the "next" Deng Xiaoping.

Luckily our economic reforms seem to be following 100% the right path, I just hope it continues.

Xi Jinping is a strong leader who is all business and all about results. He's not as wishy washy as Hu Jintao nor as infatuated with himself as was Jiang Zemin. The next 5 years will be crucial for China's future. Fortunately, IMO, Xi Jinping is the right man for the job. I agree with you brother. I hope he does become the next Deng Xiaoping.

 

[Chinese-Dragon]

Xi Jinping is a strong leader who is all business and all about results. He's not as wishy washy as Hu Jintao nor as infatuated with himself as was Jiang Zemin. The next 5 years will be crucial for China's future. Fortunately, IMO, Xi Jinping is the right man for the job. I agree with you brother. I hope he does become the next Deng Xiaoping.

Yeah I didn't like Jiang Zemin either, lol. But I did like Zhu Rongji a lot during those years.

 

[AgentOrange]

Yeah I didn't like Jiang Zemin either, lol. But I did like Zhu Rongji a lot during those years.

I wonder what old man Zhu is doing these days? Uncorruptable and hard as iron. He once fired a guy on the spot because the guy was wearing a watch that he couldn't possibly have managed to afford on his government salary.

 

[ito]

I'm Filipino idiot.

You retard...why would a Filipino be that obsessive with India. 99.99% Indians don't even know that there is country called Philippines. Moreover, given the disputes between Philippines and China you don't make sense. So Try hard.

 

[damiendehorn]

You retard...why would a Filipino be that obsessive with India. 99.99% Indians don't even know that there is country called Philippines. Moreover, given the disputes between Philippines and China you don't make sense. So Try hard.

He's a fillipino razakar...lol...indian logic, any one who says negative things must be a Bangladeshi, and in another thread indians try to convince us Bangladeshis love india...make up your mind!