[Marxism] ‘Fragile Five’ Is the Latest Club of Emerging Nations in Turmoil - NYTimes.com
lnp3 at panix.com
Tue Jan 28 23:22:52 MST 2014
The long-running boom in emerging markets came to be identified, if not
propped up, by wide acceptance of the term BRICs, shorthand for the
fast-growing countries Brazil, Russia, India and China. Recent turmoil
in these and similar markets has produced a rival expression: the
The new name, as coined by a little-known research analyst at Morgan
Stanley last summer, identifies Turkey, Brazil, India, South Africa and
Indonesia as economies that have become too dependent on skittish
foreign investment to finance their growth ambitions.
The term has caught on in large degree because it highlights the strains
that occur when countries place too much emphasis on stoking fast rates
of economic growth. The new catchphrase also raises pressing questions
about not just the BRICs but about emerging markets in general.
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