Emerging Markets

Interview

Does the BRICS Group Matter?

Martin Wolf interviewed by Christopher Alessi

The emerging BRICS economies agree that the West should hold less sway in the global economy. But their leaders, despite regular summits, have failed to articulate a coherent vision because of divergent interests, says journalist Martin Wolf.

See more in India; Brazil; Emerging Markets

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Breaking Views: Greece Unbound

Author: Hugo Dixon

"The reopening of the markets to Greece also means it probably no longer faces a funding gap, which the last official projections by its creditors put at 15 billion euros over the next two years."

See more in Europe; Emerging Markets

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A Bigger Clubhouse

Author: David Rothkopf

David Rothkopf, a visiting scholar at the Carnegie Endowment for International Peace and author of "Superclass: The Global Power Elite and the World They Are Making," writes that in this time of transformation of the international system, emerging-market powers will define the new "new world order." The need for broad global engagement around not only the financial crisis but many other world challenges will almost certainly lead the Obama administration to more actively engage the BRICs-a term coined in 2001 to refer to the biggest of the emerging powers Brazil, Russia, India and China-and that in order to manage the challenges of the world economy, potential rivals will become vital partners.

See more in Business and Foreign Policy; Emerging Markets

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Newsweek: Cutting Things Down To Size

Author: Mac Margolis

Special Correspondent Mac Margolis examines why, as Brazil becomes Latin America's economic pacesetter, its neighboring countries are viewing it as target No. 1. With a $1.4 trillion economy and a global political agenda, Brazil stands out in a region hobbled by poverty and poor governance. Its industry eclipses that of its neighbors, assuring Brazil a fat regional trade surplus. And as Brazil's fortunes soar, it casts a harsh spotlight on the shortcomings of its neighbors. The result: increased animosity from across its borders.

See more in Brazil; Emerging Markets

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EPW: India and Bretton Woods II

Authors: Aaditya Mattoo and Arvind Subramanian

The G-20 meeting in Washington on November 15 is an opportunity for India to help shape the new global economic architecture in line with its strategic interests. India should propose short-term crisis response actions and suggest a clear medium-term agenda.

See more in Financial Crises; Emerging Markets; India