BRICS Summit 2024: News & Updates

[ety]

In fact, the term BRICS was coined by an Indian.

Lol, when did a British economist become an Indian ? Unless you consider Britain and India are the same country.


economist Jim O'Neill

"BRICS" is the acronym denoting the emerging national economies of Brazil, Russia, India, China and South Africa. The term was originally coined in 2001 as "BRIC" by the Goldman Sachs economist Jim O'Neill in his report, Building Better Global Economic BRICs (Global Economics Paper No: 66).

Research Guides: BRICS: Sources of Information: Introduction

This guide provides information sources for those researching the emerging national economies of Brazil, Russia, India, China and South Africa (BRICS).

guides.loc.gov

 

[Pataliputra]

I know what you mean. But China is the only golden brick in the BRICS. Others are just bricks. China must have discussed with Russia about what kind of organization it will be before decided to establish it.

BRICS is a group of emerging economies, and India is the fastest-growing major economy in the world. When BRICS was formed, Russia, China, and Brazil also had very high GDP growth rates, but now all BRICS countries have slowed down, except for India.

 

[kankan326]

BRICS is a group of emerging economies, and India is the fastest-growing major economy in the world. When BRICS was formed, Russia, China, and Brazil also had very high GDP growth rates, but now all BRICS countries have slowed down, except for India.

Are you sure India is growing? When Japan, South Korea, China were in growing eras, they got huge trade surplus, world class successful companies. Which I don't see from India.

 

[Pataliputra]

Are you sure India is growing? When Japan, South Korea, China were in growing eras, they got huge trade surplus, world class successful companies. Which I don't see from India.

According to IMF data for FY-2024, India’s GDP growth rate is 7% per annum, while China’s is 4.8% per annum. This growth rate gap between India and China is expected to widen further, with China’s GDP growth continuing to decline and India’s growth rate increasing. The economic gap between India and China is closing faster than previously anticipated.

 

[Circadian Rhythm]

Just a JOKE

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[kankan326]

According to IMF data for FY-2024, India’s GDP growth rate is 7% per annum, while China’s is 4.8% per annum. This growth rate gap between India and China is expected to widen further, with China’s GDP growth continuing to decline and India’s growth rate increasing. The economic gap between India and China is closing faster than previously anticipated.

Data can be easily manipulated. I don't believe data. When China's GDP was about $3-4T, Which is, as claimed, India today's GDP. Made-in-China goods were already everywhere. People were gradually familiar with Chinese brands, such as Lenovo, Huawei, Haier.

I don't see same happended to India. Where is the high India GDP from? From domestic consumption? What I saw is, most Indians living standard is lower than Africans. Which alone can not sustain high GDP.

 

[Pataliputra]

Data can be easily manipulated. I don't believe data. When China's GDP was about $3-4T, Which is, as claimed, India today's GDP. Made-in-China goods were already everywhere. People were gradually familiar with Chinese brands, such as Lenovo, Huawei, Haier.

I don't see same happended to India. Where is the high India GDP from? From domestic consumption? What I saw is, most Indians living standard is lower than Africans. Which alone can not sustain high GDP.

Manipulating data is possible in China not in India

 

[Yommie]

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[Pakistan Space Agency]

The main problem with the proposal is that the US has made it clear to third countries that working with Russia’s war machine will cost them access to the dollar, hampering the Kremlin’s efforts to build a sanctions-proof payments network.

The effect has been particularly pronounced since December last year, when the US issued an executive order threatening secondary sanctions against entities involved in funding and supplying the Russian war effort.

The chilling effect spurred banks in countries such as Turkey and China to sharply cut back on dealings with Russian counterparties well beyond the executive order’s scope.

Vladimir Putin’s alternative to ‘weaponised’ dollar fails to excite Brics partners

Russian president targets US financial dominance in struggle to reduce impact of sanctions

www.ft.com

 

[kankan326]

Manipulating data is possible in China not in India

I also mentioned Japan and S.Korea. Their development stories are similar to China. India is the one that looks abnormal.

This youtuber visited India 6 years ago. He returned to India recently and didn't find any progress there.

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[Faithfulguy]

Data can be easily manipulated. I don't believe data. When China's GDP was about $3-4T, Which is, as claimed, India today's GDP. Made-in-China goods were already everywhere. People were gradually familiar with Chinese brands, such as Lenovo, Huawei, Haier.

I don't see same happended to India. Where is the high India GDP from? From domestic consumption? What I saw is, most Indians living standard is lower than Africans. Which alone can not sustain high GDP.

India’s high GDP growth is from remittances. The more people left India, more people can send back remittances, the higher the growth of Indian GDP.

 

[Pataliputra]

I also mentioned Japan and S.Korea. Their development stories are similar to China. India is the one that looks abnormal.

This youtuber visited India 6 years ago. He returned to India recently and didn't find any progress there.

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India’s high GDP growth is from remittances. The more people left India, more people can send back remittances, the higher the growth of Indian GDP.

Why is India the third-largest consumer of electricity and fossil fuels? Why is India the second-largest market for car sales? Why does India have the fourth-largest number of airline passengers? There are hundreds of other indicators suggesting that India’s GDP is not overestimated but actually underestimated.

 

[Faithfulguy]

Why is India the third-largest consumer of electricity and fossil fuels? Why is India the second-largest market for car sales? Why does India have the fourth-largest number of airline passengers? There are hundreds of other indicators suggesting that India’s GDP is not overestimated but actually underestimated.

To consume, people need to have money. And the increase of Indian money is from remittance. BTW, when did India become the second largest automobile market?. Is India even the third biggest?

 

[Pataliputra]

To consume, people need to have money. And the increase of Indian money is from remittance. BTW, when did India become the second largest automobile market?. Is India even the third biggest?

Passenger car sales by country, around the world | TheGlobalEconomy.com

The average for 2024 based on 57 countries was 1139349 passenger cars. The highest value was in China: 27562989 passenger cars and the lowest value was in Bulgaria: 42941 passenger cars. The indicator is available from 2005 to 2024. Below is a chart for all countries where data are available.

www.theglobaleconomy.com

 

[Faithfulguy]

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The first thing that comes to my mind is does Modi ever wear a suit?