The Economist (July 21)
“In the past decade emerging markets have established themselves as the world’s best sprinters. As serial crises tripped up America and then Europe, China barely broke stride…. Lately, though, the sprinters have started to wheeze.” China, India and Brazil have all recently reported weak performance. Russia is the only BRIC with a resilient economy, but this is vulnerable to oil prices. What does the “Great Slowdown” mean for long-term growth and the world economy? The Economist believes, “no crisis looms, but serious concern is justified.”
“In the past decade emerging markets have established themselves as the world’s best sprinters. As serial crises tripped up America and then Europe, China barely broke stride…. Lately, though, the sprinters have started to wheeze.” China, India and Brazil have all recently reported weak performance. Russia is the only BRIC with a resilient economy, but this is vulnerable to oil prices. What does the “Great Slowdown” mean for long-term growth and the world economy? The Economist believes, “no crisis looms, but serious concern is justified.”
Tags: BRICS, Oil, Russia, Slowdown, World economy
