Davos 2013 - (NDTV) Avoiding the BRIC Wall | Summary and Q&A

TL;DR

Experts discuss whether the BRIC countries are still on track to dominate the global economy, considering recent doubts about their growth and the possibility of other emerging markets rising.

Key Insights

• 😮 The BRIC countries are facing questions about their future dominance amid doubts about their growth rates and the rise of other emerging markets.
• 🙈 Corruption is a common concern in the BRIC countries, and transparency and accountability are seen as key to ensuring continued growth and attracting investors.
• 🎓 The BRIC countries have different strengths and challenges, but they all share aspirations for development, education, and wealth creation.
• 🪡 The panel emphasizes the need for regional cooperation and integration, and the importance of nurturing entrepreneurial ecosystems for sustained economic growth.

Transcript

hello and welcome to the NDTV ref debate coming to you from the World Economic Forum at Davos we've been talking about the BRIC countries for a long time that's going to be the future the emerging markets are going to take over the world and the BRIC countries in particular are going to dominate the global economy that's been the buzz here at Davos... Read More

Questions & Answers

Q: Are the BRIC countries at risk of hitting a wall?

The panel agrees that while there are challenges and vulnerabilities in each BRIC country, they are not on the verge of hitting a wall. Adaptation, innovation, and maintaining a competitive edge are key to sustaining growth.

Q: Is corruption a major concern in the BRIC countries?

Corruption is seen as a common challenge in the BRIC countries and the panel emphasizes the need for transparency, accountability, and anti-corruption measures to ensure sustained growth and international trust.

Q: Are the BRIC countries similar in their aspirations and development patterns?

The panel acknowledges that while the BRIC countries have different growth models and challenges, they all share aspirations for development, higher education, and wealth creation. They also discuss the need for regional cooperation and integration.

Q: Is the rise in aspirations in the BRIC countries a positive or negative development?

The panel agrees that rising aspirations can lead to social unrest if not met, but it also motivates governments to deliver and adapt faster. Aspirations drive progress and force governments to be more accountable.

Summary & Key Takeaways

• The debate centers around whether the BRIC countries are experiencing a slowdown and if other developed countries will maintain their lead in the global economy.

• The panel discusses the potential need to revise the BRIC acronym and include other emerging markets like Indonesia.

• Corruption in the BRIC countries is seen as a factor that could hinder their growth and the panel discusses the importance of transparency and accountability in ensuring continued momentum.

• The panel highlights the different strengths and challenges of each BRIC country and acknowledges the need for adaptation and reform to sustain growth.