Chinese-Dragon
RETIRED TTA
- Joined
- Jul 9, 2010
- Messages
- 33,932
- Reaction score
- 52
- Country
- Location
It seems that NONE of the Indians are able to make an argument as to why India deserves to stay in the BRICs.
India was downgraded by S&P, Indonesia was not.
India has far worse budget deficits, debt-to-GDP ratio, and is now growing slower than Indonesia too. India has an external debt that is bigger than their currency reserves, as well as extreme policy paralysis.
It was Jim O'Neill himself (the person who came up with the idea of BRIC) that said: "India is the most disappointing of all the BRIC nations".
It was the famous Indian-American Fareed Zakira that said: "India should be replaced with Indonesia in the BRICs".
India was downgraded by S&P, Indonesia was not.
India has far worse budget deficits, debt-to-GDP ratio, and is now growing slower than Indonesia too. India has an external debt that is bigger than their currency reserves, as well as extreme policy paralysis.
It was Jim O'Neill himself (the person who came up with the idea of BRIC) that said: "India is the most disappointing of all the BRIC nations".
It was the famous Indian-American Fareed Zakira that said: "India should be replaced with Indonesia in the BRICs".