The BRICS – A Fable for Our Time
A look at the world-economy of the first decade of the twenty-first century shows that the world economic boom was largely driven by China’s no-holds-barred construction and industrialization drive. It had created an enormous demand for inputs of all sorts, which China got from the BRICS countries as well as elsewhere. China’s boom had been built on some shaky and reckless loan policies of the large number of regional banks that had come into existence...
Continue Reading http://iwallerstein.com
Join the Discussion