Remember Yesterday
BRICs Circling the Drain
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  • Thirdsyphon

    As it’s often said, “Brazil is the country of the future, and always will be.”

  • Jim__L

    “It will be difficult to achieve the formal 1.9 per cent of GDP primary surplus target without recourse to “one-off adjustments,””

    Wow. So we’re not looking for real growth, just “formal” growth — aka an accountant making the numbers dance?

  • “The Russian ruble is near its ten-year low”

    Yes, and it may be worth noting that most of the recent slide from 32 to 36 rubles per USD happened before the Crimean invasion. When it threatened to push the ruble further towards 40, Russia’s central bank interfered but there’s no going back to 32 any time soon.

  • Joe Eagar

    This is hardly a good thing. Lower demand in developing countries (especially surplus countries) will mean either wider current account deficits in the developed world, or an overall slowdown in global growth. Given that the ability of developed economies to absorb large capital inflows is very much in question (given the post-crisis financial instability in Europe and the the tightening of fiscal policy in most countries), we could be looking at the latter, not the former.

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