Monday, January 27, 2014

The BRICS are in the midst of a midlife Crisis

“Are the BRICS (Brazil, Russia, India, China and, its most recent member, South Africa) in the midst of a midlife crisis? Based on recent data, this would appear to be the case,” said Roubini
“Three of the five BRICS (Brazil, India and South Africa) are now part of what investors consider the Fragile Five emerging market economies (the other two being Turkey and Indonesia).
“These fragile emerging markets share weaknesses, such as large current account deficits, large fiscal deficits, falling growth, rising inflation and political and policy uncertainty, and they all face parliamentary or presidential elections this year,” he said.- in

Nouriel Roubini is an American professor of Economics at New York University`s Stern School of Business and chairman of RGE Roubini Global Economics
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