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It's not BRICS as a whole, it's China and a little bit of India. Brazil is a major risk given political turmoil and generalised corruption; Bolsonaro attempted
by piva00 1mo ago
It's not BRICS as a whole, it's China and a little bit of India.
Brazil is a major risk given political turmoil and generalised corruption; Bolsonaro attempted a coup in a country already plagued in history by coups, his son is going to run for presidency and has a chance to win it.
South Africa's economy is in shambles, their electricity grid can barely function, the country is going backwards socially and economically.
Russia I don't think we even need to talk about.
That leaves China and India, China has capital controls and is notoriously difficult to invest in.
I don't think there's much in common with BRICS as it was in the early 2000s when the acronym surfaced, as of now they are very dissimilar societies and economies.
- wahern 1mo ago> I don't think there's much in common with BRICS as it was in the early 2000s when the acronym surfaced Excepting India, one thing Russia, China, and South Africa all have in common is they're falling into a relationship of economic patronage with China, their erstwhile peer. That may make the term BRICS antiquated in a sense, but now that China has more control over the group it also increases the collective power that China can summon. Whether that power is substantial enough to have become more meaningful than before, I'm not sure. Doesn't seem like the yuan has gained much ground relative to the dollar, euro, or yen.