China is suffering from “economic long COVID,” Adam Posen wrote in Foreign Affairs.
Its sluggish post-COVID rebound may be a long-term trend, said the Peterson Institute’s president.
Like other authoritarian regimes, China’s economic development is following a predictable pattern, he noted.
A perspective worth noting in terms of the global economy. 3min read
The National Treasury revealed that South Africa recorded its largest budget deficit since at least 2004, sending the rand crashing and lowering demand for government bonds.
BRICS expansion warning: Democracies diluted; rogues’ gallery silenced by China – Dr Christopher Sabatini
President Ramaphosa expressed support for the expansion, stating that it will represent a group of nations with a common desire for a more balanced world order.
Dr Sabatini questioned the viability of a common BRICS currency, asking how a common currency can be created among countries that have shown little currency stability. He also said there is a need for trade protections for certain industries in peripheral BRICS economies to prevent them from being locked in providing raw materials to China.
A radio interview of 22 mins.
Interest in joining BRICS has soared in recent years, with over 20 nations having formally applied to be part of the bloc. Several other countries including Comoros, Gabon and the Democratic Republic of the Congo have informally shown an interest in doing so.
To view the map, you will need to sign up, no payment or obligation. Visually the bloc makes an impact.