India’s currency is hitting a “historic low” or a “lifetime low”, reflecting its sliding economy. Russia, for its part, is struggling to diversify its economy, while South Africa will be overtaken by challengers that seek to turn into the continent’s economic hub, such as Nigeria or Kenya. While reigniting their economies is indeed the major challenge in the coming years, doubts about the utility of the BRICS acronym are misguided. The necessity to strengthen intra-BRICS ties, as well as the opportunity to articulate new narratives on how to best tackle global challenges, remains, and the BRICS leaders must continue to invest in the grouping. It is now time to begin developing a proactive agenda for the 6th BRICS Summit in Fortaleza in 2014.
Available at: http://www.postwesternworld.com/2014/02/09/cooperation-advance-economic/