The BRICS Fallacy | Forex Factory

  • The BRICS Fallacy

    From project-syndicate.org

    The recent downgrade of Brazil’s credit rating to junk status was followed by a raft of articles heralding the crumbling of the BRICS (Brazil, Russia, India, China, and South Africa). How predictable: schadenfreude almost always follows bad news about the BRICS, whose members were once hailed as the world’s up-and-coming economic powerhouses and next major political force. There is something deeper going on here. The world’s seeming obsession with the BRICS’ perceived rise and fall reflects a desire to identify the country or group of countries that would take over from the United States as global leader. ... (full story)

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cat
Sep 30, 2015 4:19am
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"the world ignores the fact that the US remains the only power capable of providing global leadership and ensuring some semblance of international order."

What planet has she been living on -' global leadership and international order '??!! That may well be how the White House sees it, but it most certainly isn't how the rest of the world sees it !
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dancingphil
Sep 29, 2015 11:12pm
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The MAIN first major initiative of BRICS is its industrial development bank; which is fully funded and chugging along quite nicely. And the USA is far from out of the woods yet.
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frx_trader
Sep 29, 2015 10:15pm
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What fallacy? Would the author care to explain it? She seems to be very intelligent.
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Trader#FA32
Sep 29, 2015 10:09pm
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Rubbish. Keep on dreaming.
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