Comments on: As Problems in India and Russia Escalate, Let's Drop the BRIC

By: Abhimanyu

Abhimanyu — Tue, 16 Feb 2010 14:40:42 +0000

Martin, after reading your assessment about India, I am having serious doubts about your knowledge, credentials and understanding (about politics? about foreign reerves?) of India and its financial growth, anyway in last quarter, India clocked 7.9% GDP growth. With rapidly increasing middle class which is now touching 380 million and disposable income, the growth is fueled by indigenous demand, not by exports and artificial suppression of currency.

Also India's current or future growth has nothing to do with the government in power, which can be seen from the last 12 years. I will advice you to do your homework first as the current article lacks any facts and substance and case of selective writing.

By: Dr. S. K. Sharma

Dr. S. K. Sharma — Wed, 24 Jun 2009 09:16:25 +0000

I do not agree that during 2004-08, India did well due to reforms carried out due to erstwhile Bajpayee Government . In fact the reforms were carried out right from 1991 when Dr. Mammohan Singh was the Finance Minister in 1991. The UPA government has already taken the lead in reforms that have fetched more jobe than inflation recently. It is only because of sound economic measures that India has not suffered the way the developed and developiong xountries have suffered the great depression. The impact of global recession is very much in control after the UPA government has once again taken the charge. India will continue to have its impact on the global economy in terms of rising trade and overall employment. The Hindu Growth rate is of past only. The future growth is expected to be around 6% in the coming quarter.
Dr. S. K. sharma

By: Looking For the Next Global Profit Play? Take a Look at These Emerging Market ETFs

Wed, 20 May 2009 10:06:02 +0000

[...] four markets – Brazil, Russia, India and China – comprise the so-called "BRIC" economies of the [...]

By: World Bank Predicts 4.5% Contraction for Russia’s Economy, Possible “Social Crisis”

Mon, 30 Mar 2009 17:33:03 +0000

[...] Also, Russia's continuing weakness is causing emerging market investors to look elsewhere. Since their high last spring, Russia's stock prices are down nearly 80%, and Money Morning Contributing Editor Martin Hutchinson has crossed the Russian markets off his list of growth opportunities. [...]

By: With Russia’s Economy in a Deep Freeze, Is Medvedev Gearing Up to Give Putin Das Boot?

Wed, 25 Mar 2009 10:01:56 +0000

[...] Money Morning: As Problems in India and Russia Escalate, Let's Drop the BRIC [...]

By: Muzaffar MH, MBA

Muzaffar MH, MBA — Mon, 23 Mar 2009 18:32:49 +0000

I agree with Paleri's comment on the success of BRIC, as one need to the see how these economies are brought together, Brazil as a raw material power house, China as a low cost manufacturer, India as low cost services or more generally we can say the world's back office and Russia, the oil reserve. What else you need to operate in this planet earth. Who would have though all these years that Brazil will be such a success in these 6 years and Japan after world war 2. However, they proved the world worng. Yes, I agree with all of you that we are indeed in deep financial crisis, but its wrong to write-off any country's potential just on the basis of one bad economic cycle. The title of this article could be amended slightly instead of saying "Lets drop the BRIC", should have said turbulence in 'BRIC' wall, which would have suit the article.

By: P. Paleri

P. Paleri — Thu, 12 Mar 2009 06:27:28 +0000

Sorry sir, I do not agree with you for the simple reason that a post mortom done pre-mortem is not valid in strategic thinking. Forecasting is a different ball game. Your article is not forecasting by serious study. Please do not be in a hurry and spread confusion, that too in a derogatory way. It doesn't speak well about the media used for it. There is something known as psyconomics in anlysing money (Read my book to know more on economic security–you got to find it out). There was no BRICK anyway becasue the four countries had their own way of economic planning. I feel they will continue that path irrespective of governments. They should do well. Or rather not bad.

By: Has Anybody Seen the Bottom Yet?

Has Anybody Seen the Bottom Yet? — Tue, 10 Mar 2009 10:00:51 +0000

[...] and stock prices, accordingly. The best-run countries of Latin America – particularly Colombia, Brazil and Chile – may also benefit from Asian growth, without suffering high inflation or financing [...]

By: Emerging Markets: Another "BRIC" Hits the Wall...

Emerging Markets: Another "BRIC" Hits the Wall... — Mon, 09 Mar 2009 12:53:58 +0000

[...] Editor's Note: To find out more about The Money Map Report – including a special offer that includes The New York Times bestseller "Crash Proof," please click here. To read the original article, go here. [...]

By: Dr. Chaks Srinivasan

Dr. Chaks Srinivasan — Sun, 08 Mar 2009 22:10:03 +0000

The words "Hindu" and "India" are not interchangeable. One refers to a religion and the other refers to a country. This may not be recognized by all and that may be the reason the term the "Hindu Growth" is used in place of "Indian Growth". I fully appreciated the point of view of the article and am in agreement with most of the points therein.

By: Dr. Chaks Srinivasan

Dr. Chaks Srinivasan — Sun, 08 Mar 2009 18:08:01 +0000

I agree with Zhang Zemin that the word “Hindu Rate of Growth” is racist. It is demeaning. You do not refer to Brazil’s as “Catholic Rate of Growth” or USA’s as “Christian Rate of Growth”. It should be “India’s Rate of Growth” or “Indian Rate of Growth” or some such term that is indicative of professionalism. India, by the way, is a secular democracy addressing its age old societal problems in a democratic set up. Sensitivity training is indicated here.

By: anil

anil — Sun, 08 Mar 2009 05:56:58 +0000

Hey Martin
Keep away from using "hindu-growth" in a derogatory way. We've seen what the non-hindu boom and bust, fear and greed have resulted in. We've also seen how india escaped the bust and we're also seeing how non-hindu nations are entering negative growth cycles. Each country has different basis on which the societies are founded and people need to understand the civilisations properly to make any conclusion.

By: sriran

sriran — Sun, 08 Mar 2009 02:59:18 +0000

while your conclusions of india are correct based on present situation, you also need to realize that india is a healthy democracy. the same corruption which has pulling down india all these years may help india in the downturn.

after the irs case against UBS to reveal the names of the customers, there is a movement in india to do the same. indians have 1.4 trillion dollar hoarded in swiss banks. repatriation of a part of it is enough to stimulate the whole economy. since politicians are also involved in this, it maybe something that never happens. but the fact that there is a 5% probability of this being repatriated either due to the government action or bank failures in europe make me optimistic about india

By: Carlos Comesana

Carlos Comesana — Fri, 06 Mar 2009 23:07:39 +0000

Martin, having Russia and India out of the game we must remember that China and Brazil huge reserves are denominated mainly in U$S. So, both countries economies are depending on the US economy not only because their fantastic export fluxes but also to the incertain future quality of their reserves blindage. Depending on how critical the exit of the actual crisis is, it is posible that there will be no longer a BRIC or any other acronym related to these countries.

By: Zhang zemin

Zhang zemin — Fri, 06 Mar 2009 21:56:48 +0000

This report has many errors. India's GDP has been growing at 9% per year. India is on a long term path of Industrialization. THe lowest estimate for GDP is 5.3% coming from the IMF. India projects 7.1% GDP growth for the year. The term "Hindu rate" of growth is a racist term coined by an anti-Hindu bigot. The Hindu rate of growth is 9% per year. Reforms are steady and continuing.

By: Rick

Rick — Fri, 06 Mar 2009 18:23:30 +0000

During our time in the history of the world, we occupy front row seats and are face-to-face with the collapse of a material world which is falsely evaluated and measured. That cultured "device" of false valuation is, of course, the thing we have been taught to hold most dear, and known as "money" or "currency" throughout the ages. It is the force within that "occupies" and drives us. Before we do this, or do that, or go here, or go there, we first, as individuals and as communities, do a consultation with the "device" to get its permission. Traditionally, "currency" controls the full spectrum of human emotions. It causes restful sleep, or severely disturbs it, but moves people to get out of bed in the morning, nevertheless. Outstandingly nowadays, it either positions us to be extremely happy, or positions us poverty stricken and miserable, amid rapid-fire demise of any critically "sustaining" middle positions, which is where all the "real" work is done. But we now witness the demise of money, either as a mindless currency flow that is rapidly drying up, or as a mindless currency flow turned tsunami that is destroying everything heart-felt upon which we depend, workers and all. Any way you may see it, a one-time collapse is unfolding before our eyes which will give way to a new paradigm of order.

By: Craig Laub

Craig Laub — Fri, 06 Mar 2009 16:54:05 +0000

What index are you using when you say China has risen by 20% this year? The iShares FTSE/Xinhua China 25 index is down 15% year-to-date as of 3/5/09.

By: tom udelson

tom udelson — Fri, 06 Mar 2009 16:01:20 +0000

great concise actionable analysis

By: Bill

Bill — Fri, 06 Mar 2009 14:03:24 +0000

Hi,

The current massive and with no end in sight bale out strategy by the banks is crashing all economies as we know them. Behind the banks are primarily the oil companies. So we need a paradigm shift or "all hell is going to break loose" and there will be no winners.

The oil companies are supporting a suppressed technology that if released would give us all essentially free energy. Just sit back for a moment and think what that would mean for economies. It would mean a paradigm shift unlike anything in recorded history.

The oil companies have to let go now the easy way or later the hard way I think.

By: Dileep K Gupte

Dileep K Gupte — Fri, 06 Mar 2009 12:24:23 +0000

I FIND THIS REPORT VERY INTERESTING. PLEASE CONTINUE EVERY DAY. THANKS D K GUPTE