Emerging Markets

The BRICS heads of states meeting in New Delhi has produced some interesting developments, especially its politically hard stand against the west. This is happened when the world was watching how the BRICS which involves the future titans of the world economy can challenge the over dominance of the declining west.             Of course, the leaders avoided depicting the BRICS as an alternative organization, correcting the wrong doings of the industrialized west. But overall, the meeting made a clear statement that on issues related with development and politics, the forum is going to make a stand of its own. The Delhi declarat

There is no doubt; the BRICS is an organization capable of changing the world economic affairs. Members of the BRICS community are the economic powers of the future. Adding to their prospects is the current trend of shrinking economies in the west, and thus the organization holds more glamour.                 The BRICS is in a process to chalk out mutually beneficial strategies to withstand the crisis emanating from the recessionary trends in the industrialized countries.  As the heads of states of Brazil, Russia, India, China and South Africa meet in New Delhi, the world is watching the movement of th

Chinese Renmninbi is on the launch pad of being a world currency. The efforts by China to convert it into a hard currency substituting the US Dollar may reach a finishing point at the March end scheduled BRICS meeting at New Delhi.             China already has adopted a clear stand against the US Dollar as the global currency and suggested that Dollar should be replaced by IMF’s Special Drawing Rights.             It is not just the hard currency ambitions that motivate China to provide renmninbi loans to other BRICS countries. The country has a vast foreign exchan

Next couple of weeks will see quick political engagements across the globe for securing funds for the second bailout package for Greece. This time the EU leaders are chasing the present heavyweights of the global economy, especially the emerging countries to mobilize funds for the $170 billion aid package to Greece. The US has already indicated that it will not contribute to the IMF to finance the bailout. Hence, the EU leaders are working hard to secure money from China, Japan, India and other emerging countries to finance the next phase of the Greek bailout. The EU leaders in their plan of disbursing the stressed Greek assets all over the world using the IMF window, implic