A New Bank, BRIC By BRIC; India To Preside

Leaders of the Brazil, Russia, India, China and South Africa — all emerging market nations — launch a $100 billion development bank and a currency reserve pool in their first concrete step toward reshaping the Western-dominated international financial system. The bank, aimed at funding infrastructure projects in developing nations will be based in Shanghai and […]

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Up, Down, But Still Moving Forward

The coming months will see no end of obituaries written for the emerging world, and of the perils they face. There is nothing new about these prognostications, and they all miss the glaring realities of democratic transformation and its sometimes tumultuous consequences. They miss as well the degree to which hundreds of millions have seen […]

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India’s Proverbial Frog In The Pot

Banking reforms alone, however, aren’t going to bring foreign investors back or prevent the rupee from falling further. This is (Raghuram)  Rajan’s real challenge: He is stepping into a stew of financial chaos, missed opportunities and political paralysis that has been simmering for years. It’s no longer inconceivable that India could become the first of […]

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…And Whatever Happened To Emerging Markets?

When the U.S. financial system crashed in 2008, market watchers were increasingly romancing the idea of a “decoupling” that would separate emerging-market fortunes from those of the subprime-hobbled U.S. Such economies as Brazil’s and China’s, the thinking went, had the demographics and national balance sheets to keep growing and wowing as America foundered. Never happened. Read […]

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The BRIC Breakdown

Is the decade-long BRIC dream over? Bloomberg reports that capital flight from Brazil, Russia, India, and China has sent their bonds, currencies, and stocks down together for the first time since 2006. Read Here – Businessweek

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China’s Wild West

While the international media has extensively analyzed the demonstrations and street clashes in Turkey, Brazil and Egypt over the last several weeks, there has been very little coverage of the street violence happening in China’s Xinjiang Uyghur Autonomous Region (aka East Turkistan). Read Here – The Diplomat

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