If trade is the mortar holding together the Brics — Brazil, Russia, India, China and newcomer SA — the omens would appear poor for the grouping.
China has overtaken Japan to become the world’s second-largest economy, the fruit of three decades of rapid growth.
Disagreements over how quickly to reduce billowing budget deficits and restore balance to the global economy risk straining high-level G20 talks.
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/ 17 November 2009
The imperative of greater global currency stability means the world can no longer rely on a currency issued by a single country, the IMF head said.
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/ 19 October 2009
China on Monday launched the latest in a long list of attempts to rein in industrial overcapacity to keep its fast-growing economy on an even keel.
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/ 25 October 2008
Leaders closed ranks on Saturday to try to bolster the confidence of investors fearful that the credit crunch is mutating into a worldwide recession.
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/ 18 December 2007
The World Bank is planning projects in Africa with China’s Export-Import Bank to address concerns that Beijing is taking more than it gives as it scours the continent for oil and minerals. World Bank president Robert Zoellick said the pros and cons of the country’s push into Africa had been an important topic during his talks with senior officials.
China promised on Tuesday to do more to strengthen Africa’s economic sinews even as the continent enjoys its fastest burst of growth in 30 years on the back of booming Chinese demand for oil and minerals. Central bank governor Zhou Xiaochuan said Beijing would redouble efforts to share the lessons of its economic take-off.