In The News

BRICS Turns To Politics

Nayan Chanda April 26, 2011
An economist for a US investment bank developed the acronym BRIC a decade ago, lumping together the solid, fast-growing economies of Brazil, Russia, India and China and arguing the four would outpace the top six Western economies before 2050. The analysis resonated, fueling confidence among the hot emerging economies, which have since added South Africa to their ranks. The BRICS agenda is...

Bordeaux Vineyards Acquire Taste for Chinese Buyers

Alexandra Topping April 20, 2011
As China’s economy continues to grow, wealthy Chinese develop a new taste for luxury goods from around the world, including fine wines and French vineyards. Chinese investors increasingly make inquiries about purchasing centuries-old vineyards, and a few properties have been conveyed. Investors typically retain the local staff, though some critics express fear that newcomers won’t produce high-...

Chopstick Diplomacy in Chile

Nathaniel Parish Flannery April 18, 2011
China and Chile have developed close ties since the 1990s, and in 2005 Chile became the first non-Asian country to sign a free-trade agreement with China. China is now top trade partner for both Chile and Brazil, and new Chinese restaurants opening throughout South America are just one signal of strengthening South-South ties and China’s soft power. The restaurants, prominent exemplars of Chinese...

Africa and the Emerging South

Chris Alden April 15, 2011
The relationship between Africa and the so-called BRICS – Brazil, Russia, India, China and now South Africa – is rapidly changing the face of the continent. Chris Alden of the London School of Economics analyzes how growing trade ties shape Africa’s future. The original BRIC countries seek raw materials from Africa and undercut some local industries. Yet competition among BRICS, their investment...

BRICS Grapple with China Dominance in South-South Trade

Alan Wheatley April 13, 2011
Brazil, Russia, India and South Africa struggle to compete against once-poor China, now the world’s second largest economy. India ranks 4th, Russia 7th, Brazil 9th and South Africa about 20th in world GDP. Growing South-South commerce, which represents 17 percent of the global total versus 7 percent in 1990, is imbalanced, reports Alan Wheatley, global economics correspondent for Reuters. So far...

Fighting Imported Corruption

Devesh Kapur, Arvind Subramanian April 5, 2011
Indians are furious and astounded about recent corruption cases, where large ill-gotten funds have vanished. In an essay for Business Standard, Devesh Kapur and Arvind Subramanian blame the ease in cross-border transfer of funds. The pair contends that as money is concentrated in fewer hands, it’s secretly transferred to tax-free domains beyond national borders and then returned as valued foreign...

Let Them Eat Bread

Annia Ciezadlo April 4, 2011
Many factors are at play in the ongoing Middle East protests, and while bread often goes unmentioned, Annia Ciezadlo places food prices in the spotlight. Governments in the Middle East import grain and then subsidize bread for their populations. The inexpensive bread has artificially sustained the rule by non-democratic governments, staving off unrest. In 50 years, nations went from self-...