china does so china needs to have a much more say in the design of policy from these institutions if you go to the g twenty for instance which has become the new sort of committed to run the world in economic affairs i think it's something which is going to diminish in importance simply because it was it was an institution that function well at the height of the crisis when governments needed to come together in order to avoid a repetition of tit for tat type of protectionism allow the 1930's and the great depression and it served that purpose quite well but now that we are starting to deal with other types of issues like for instance the global financial regulations we could clearly see that interest between countries here are fundamentally different and of course also the the you know this size of this size of the economies in the size of in this case the financial services sector is also differ so much between these countries that it's impossible to get through and even when there is not a desert only something they may need to be talking about in a in china this week i don't find

from china,

and i would argue it's been good for china because it's told china don't rely -- >> charlie: on foreign markets. you better develop your internal consumption and you better move from a saving to a -- >> exactly. so china is on a different path. if not for the crises, it would not be for that. probably the u.s. is on a different path as well. >> charlie: a path of saving rather than consumption. >> yes. the month before the crises the u.s. personal crises was 8%. today it's close to 6. >> charlie: the n11 who are they. >> i'm slightly embarrassed by it. early on, brazil, russia india china, why not korea, why not mexico, why not indonesia. after a couple years or so, okay, why don't we have a lot and all these other countries that perhaps should have been a brick and see what it looks like. so we decided to look at the next 11 largest population countries in the emerging world and we called it the n11. all it is, is a group of 11 countries with lots of people. very diverse. very different than the brick thing but diverse bunch. but it's become quite a big thing. >> charlie: is there any

from china, china would be in such an economic problem you have no idea. we are rebuilding china. i don't know if you know it. they're building bridges. they're building airports. they're building cities, brand-new cities. when was the last time you saw a bridge being built in the united states? we don't have bridges being built. we have bridges that are falling down. when was the last time you saw a great airport being built? we used to build them in the '40s or '50s? >> are we a second rate nation? >> we're becoming absolutely a third world nation. you land your plane at laguardia airport, it is like a third world airport. you go over to saudi arabia, qatar, abu dhabi, china, a lot of other places, a lot of it done with our money. meaning the money that they made from us. you know that this year klein will make -- aside from taking a lot of our jobs -- will make $300 billion -- call it profit -- on the united states. $300 billion. >>> next, donald trump on presidential politics and his potential run for the white house. so you can save money. like a snap

develop an indigenous developed market looks for china and at the same time china is good to go answers all over people to go isis and sausage peter he went to africa to be struck thirty countries that's one of the reasons after they can have an african command you know africa counter act china but the militarized service structures are so different one strategy in china is economic development first and then. years are going to house and political. stances. if you stick around through better national security agencies the sixteen of them the cia the pentagon the state department. you many which i rather expect does not go. anybody would want to ricans themselves i think if that is an important point per day that you made you know you can disagree with their human rights record with the way they run just about everything but the fact is china is on to something when they were when we talk about the way they run their economy but they ask of our correspondent at the asia times. and that's going to do it for now but for more on the stories we covered with r.t. dot com slash usa also check

tell me about how you see china >> china isecoming a major power. economically. >> rose: second-largest economy in the world already. >> yes, economically and militarily. china must be part of regional dynamisms. must be part of economic development in our world. but china must take responsibility as a global player with the time oaf rolls i believe the relationship between china and other countries will be better. >> rose: do you believe they're prepared to play that kind of role? >> well, i met china's leaders several times, president hu jintao, premier win jiabao. i could feel that china is realizing more that the world needs roles, her participation to deal with many global challenges and issues. i believe that china is moving toward the direction. >> are yoweri at all chi's por? >> i have to say like this. as far as china can be put in our regional operations and we treat china properly, as a friend, as partner and, of course, while i have to say that power muste checked by another power, then china cou be a good friend for everybody. >> rose:

china? i would like the comments of evan but who you listen to as authoritative on various policy issues? in the sense of most closely linked to actual behavior of the system. there may be more than one. group. who speaks for chinese policy? this bears on the whole question of when we say the ality.e have intention alida that is hiding a lot. who are the chinese? where does the intentionality in the system resides? ? all those issues cannot be answered in this paper. when we talk about the chinese have intentionality, who are we talking about? secondly, this paper raises and the fascinating question to me. as americans, we think all good things come from democracy. there is a proclivity there. in fact, as you look at the range of views, if they are going to be given more expression in chinese society, in fact, what comes out in your paper is actually the top leaders seem to be the moderates, frequently, in this situation. if overtime leadership becomes less salient and society more salian, y

in china, 150-plus. when we are just talking about urban china, of course, we're talking about a gigantic population but like you, i wondered how much of the sort of things i was talking about affected these hundreds of millions of desperately poor people, so i did a little bit of market research the last time i was in yunan province, which is near tibet, and vietnam. i was traveling between two cities that had previously been at the very, very end of the lonely planet trail. you had to go over some pretty rough roads to get there 25 years ago whifirst went, i wanted to see what had happened in the inter-- when i first went, i wanted to see what had happened in the intervening time. they had become big destinations for chinese traveling around. i went further off the beaten path to a city between the two and i asked him if he had ever heard of mcdonald's, kentucky fried chicken, coca-cola, and he looked at me like i was an idiot and pointed to his brand new liquid plasma tv set which he thought thanks to

china operations are the day. oh my god shocking news today the biggest economy in the world will no longer be the united states that's right according to the i.m.f. we will soon be overtaken by the online porn industry the laws that china he's away were screwed but you don't have to be so full of all who joins us to expose the gun the room behind soaring gold and rising china sues for liberty young americans for liberty are in studio to explain how the current education paradigm encourages violence and i'll tell you why when it comes to youth violence it's time to stop talking and start thinking you're watching adam vs the man. if you're an american who's self-worth is based on comparing the state of our nation's economy to the economies of other countries then it's probably time to start popping some preemptive prozac things are getting worse much faster than most american economists previously expected it made headlines last year when goldman sachs and the world bank the clear that china would surpass the unite

[laughter] >> explained the china thing. you do that, when you talk about china. what are you getting at? >> this is just a stylized gesture to capture something that we all know is true. we are terrified of and fetishized by china. we do not want to think about the implications of china. we are terrified that they are larger than us. we are terrified of the economic relationship we are in. it is scary and we do not like to think about it. we fetishize china. so many business books say that china is the great new market. this is the wild west. i spoke to so many businessmen that make a living going back and forth between hong kong and mainland china. making their fortunes there. they are talking about it might get is the wild west. fortunes can be won. what is not talked about is it is a fact that it is a fascist country run by thugs. >> it is true. it is a taiwanese company in mainland china. >> that is the part of the relationship between the taiwanese and mainland china, it is not good. the fact that the company is from taiwan makes it easier to treat the worke

you were not nice to these people from china." they love money in china. one deal, i owned a large chunk of the bank of america building in san francisco. did i do well with the chinese? he said, "you certainly did." we need somebody. when china, this year, is going to make -- let's call it a profit. they are going to make this year $300 billion. then these idiots say, "you do not want to trade." of course i do not want to trade when they take $300 billion. i want to trade for the break even. why should we not make for a change? [applause] now, what china has really done is they have manipulated their currency. they are professionals at manipulation. they are abusing this country like we have never been abused before, except for opec. i had them in a special category. the d.c. recently a couple of days ago where saudi arabia said, "let's raise the price and cut back production." you are going to be paying $5 to $6 a gallon for gasoline pretty soon. they want to raise the price of oil because we have nobody in washington that sits back and says, "you are no

first of all of course march she was from china china is the major creditor of the united states and today the financial rating of elected states was changed has been changed so i guess that china for this quite a lot of levers still painful the situation both economic and political. times correspondent per escobar spoke to be investigating the rivalry between the u.s. and china over africa he told me more governments will fall victim in this race for power. it goes way beyond libya in fact i'm working on a story at the moment fixing the pentagon against china this is the big story in africa for the next fifty years i would say it starts in the beginning of the two thousand creation of the african union gaddafi was a very important end in this mechanism it was a mechanism to give a political force to africa in terms of a better unified africa in terms of political decisions and not you know of course economic integration and then china started investing much more than he was investing two hundred ninety nine is for african at least thirty countries we have more than nine hundred proj

china is poised to overtake the u.s. economy in twenty sixteen just five years from now and much sooner than previously expected now the rise of china in a relative decline of the united states is one of the biggest stories of our time and the implications well they're visible nearly everywhere from shuttered factories in the midwest to soaring costs of oil and other commodities but if the end of america's economic hedge money is truly imminent what are the implications for the globe for free market capitalism during me now to explain how we got here and what the future has in store as paul craig roberts is a former reagan administration official and joins me right now from kalamazoo to florida dr roberts thank you so much for being here and we've known for quite a long time that china was supposed to overtake the u.s. economy so it's not completely news but i think the estimate those are the estimate that it's going to happen in five years i think is a little bit surprising especially considering the fact that just a de

china is poised to overtake the u.s. economy in twenty sixteen just five years from now and much sooner than previously thought now the rise of china and the relative decline of the united states is one of the biggest stories of our time the implications are visible nearly everywhere from shuttered factories in the midwest to soaring costs of oil and food and other commodities but at the end of america's economic hedge money is truly imminent what are the implications for the globe and the future of free market capitalism well joining me now to explain how we got here and what the future has in store for us is joe weisenthal he's the deputy editor of business insider so it's great to have you back on the program if you want to see the the drudge banner this morning and i know you did since you posted about it i mean it was an apocalyptic terms as if the end of the world is around the corner at least for the united states is this prediction the twenty sixteen deadline really the bombshell that is being made out to be or c

and they say that china's rise flies in the face of fukuyama spirit china is definitely a refutation of the idea that you have a broad economics is what we're saying here is an economy where the state controls not only the banking system but most of our corporations the control investment which is you know twice as much as a percentage of g.d.p. as it is in the united states and. so first is a growing economy and in the history of the world. an economy that has lifted three hundred million chinese out of poverty well the number of americans living in poverty increased from thirty one point one million to forty three point six million and just the last ten years it would fukuyama revise this theory it's hard to say i still will bet on a system of checks and balances over you know you don't get all of your for trade system killing for an artsy washington d.c. . oh i thought the same would you bank on a system of checks and balances or a good quality authoritarian system for some answers i spoke to asia times correspondent pepe escobar. this is not about the knockers the chinese the hav

the most notable example is china. china determines its value of its currency, manages it. i think most would agree the chinese currency is significantly undervalued, particularly against the dollar. it would stand to reason for the dollar to fall in value against chinese currency, and that is what is happening. that is where most of the value of the dollar is falling, with the chinese currency. the bottom line, in answer to your question is, no, i do not think there's anything nefarious going on. this is just normal policy. it is good policy. it is the kind of policy we need to help our economy. it is not a slam dunk positive, there are negatives to a. but it is the best approach. dealing with the debt ceiling, the christian science monitor this morning, one of their lead stories, next test for deal making trio is the headline, talking about the workings between house speaker john boehner, senate majority leader harry reid and the president saying the debt ceiling talks may be a bigger hurdle than hard-fought deal on the 2011 budget. mark zandi, your thoughts about that? g

take china. there's some areas where we and china are rivals. if china tries to push us out from the coast to the second island chain, that's pretty much a zero-sum. i think we'll stay much closer than that. something we can debate in another context but that could be easier. if on the other hand we want to deal with something, do something about climate change, the better china gets a climate change the better off we are. they are better off, we are better off. so in some situations where it is zero-sum and other situations is a positive sum, there will be some that are mixed elements of both. so it's hard, it's hard to get public to think in those terms. it's much easier than back in the cold war, iron curtain, it clear line, good guys on this site, bad guys on this site. the world in which you have the rise of the rest and the diffusion of power from state and nonstate actors will become much more complex world which will require much more subtle strategies. and that's hard in our political culture for politicians to explain that. it's much e

the average is and they say that china's rise flies in the face of fujiyama theory china is the third of the a refutation of the idea that you were brought. in and says what works for me here is an economy where the state controls not only the banking system. most of our corporations the control investments which is you know twice as much as a percentage of g.d.p. as it is in the united states. and. so the fastest growing economy and in the history of the world. an economy that has lifted three hundred million chinese out of poverty while the number of americans living in poverty increased from thirty one point one million to forty three point six million in just the last ten years so would fukuyama revise this theory it's hard to say i still would bet on a system of checks and balances over you know even a good quality authoritarian system keelin for artsy washington d.c. . for some foreign policy watchers it's not as though america doesn't have the money it's the world's biggest military spanner and as analysts other nations are being much cleverer was their cash i'll give you a sim

china probably won't equal the u.s. many in gdp per capita until somewhere around 2040 or well into the century. the other thing is that these projections about china being equal to the u.s. in the 2020s are one-dimensional. they look at economic power. they ignore military power. hard to see china equaling the u.s. in military power for another 20 years or so. they also ignore soft power. and while china has made a major investment in soft power and hu jintao did, basically, tell the 17th party congress that china should invest in soft power, they are not going to be able to project soft power as effectively as the u.s. so long as they keep the authoritarian position they have. if you take the example of the beijing olympics or the shanghai expo, great confucius institutes, great -- but then you go up and lock up xiabao and fuss about the nobel prize ceremony, and you undercut all that power you've invested in. so until china changes, i don't see it being able to come close to the americans in soft power either. now, y

and the state of california maintains its leading position in exports to china. in the fourth quarter of last year, california exported x 0.8 billion u.s. dollars to china, which is 28% more than the same period of last year. 35% is from the bay area. the year 2010 is also a very remarkable in the relationship between china and san francisco. last year, shanghai and san francisco celebrated the city's anniversary of the sister city relationship. three mayors of this city led a large delegation to shanghai and inaugurated the grand opening of the san francisco post at the world expo. they open their second office in beijing. last year, we maintained frequent exchanges and close cooperation and achieved new, substantial results. in the context of the new year, you have already had a promising beginning. as you know, one month ago, chinese president hu jintao paid a visit to this country and held productive talks with president obama. both our leaders declared their commitment to building a cooperative the partnership based on mutual respect and mutual benefits. his

china has -- not just china, india also signed trade agreements with brazil. many latin american countries have established embassies in india because they're also growing. >> i want to commend you on the cuban news, which you -- this is your newsletter, and also diplomat. >> thank you. >> getting increasingly -- it's always been popular but everybody talks about it in the diplomatic community. alan gross sentenced to 15 years and may sue his ex- employer. who is alan gross? >> alan gross is a subcontractor for the u.s. agency for international development. >> why is he been jailed in cuba? >> well, that's a good question. alan gross was jailed supposedly under the cuban government for interfering in state affairs. >> get back from cuba, he tried to get on release and was -- it was rejected outright. >> i think jimmy carter made the point before he went down there that it was not his objective. he would try but didn't expect to come back with him. >> wasn't he trying to get communications equipment to them so they could communicate with the americans? >> no --

they are eating our lunch we're building china we are really building china because everything we make is made in china or other countries it's not made here we don't make things anymore you have such a huge deficit with trade deficit with china the current user artificially low and she we fall into the chinese trend we're now destroying the dollar in order to try to compete with them we should be doing that we should be keeping the dollar strong and stable and we should tax chinese products when you have. over three hundred euros one started against our country it's also taking a lot of our jobs because they're making all of our products a lot of our products i mean eliot you know really what i order curtain walls that when i'm building buildings i'm getting a lot of those curtain walls and a lot of those products from china. i get it i get it china is our enemy and they're ripping us off those are some harsh words from the business mogul so far this morning salon dot com a report on dollars from and his vast business connections with china is the donald has a men's clothing line call

why isn't china involved? why are we involved with libya and china is not involved and china, by the way, the imf came out two days ago. they said by 2016, china is bigger than we are. you know why they are bigger? because they are making our products. if they didn't make our products, they wouldn't be at all bigger. [ inaudible question ] >> it is so easy. china is taking unfair advantage of the united states and other countries by a total manipulation of their currency. if they continue to manipulate their currency, if i am in office and i decide to run and win, within one day, they are going to be told, you keep manipulating your currency, we are going to tax you 25%. now, that's going to do two things, first of all, this he will stop manipulating at the mere thought of it, if they believed it. they don't believe this administration, because when the president of china comes to the united states, we hold a state dinner for him in the white house. now, here is a guy that's been screwing our country for years

what you see now is jail change of china's policy china is going to play a more active role and as you seem. try to remove chinese competition it's really vital regions of the south asia middle east and africa. tansey says that china's influence in africa and us is trying to undermine china as part of this equation that worrying washington i'd say rather more than european union leaders but definitely one of the has a look at khartoum to see trainees investment in africa and gaddafi was one person who for all its privatization and later suddenly coming back to the western fold he still didn't like africa calmly american defense network in germany regarding africa and many people say that china of course is going to be the new. chinese investment in iran totals some one hundred sixty five billion dollars or so it is rapidly finding problems of un resolutions regarding iran so in that case beijing and washington's interests coincide i think there has been a cold war since the second world war with china arguably and it is certainly being up but the state department the think tanks on cap

china has always advocated no involvement policy but what we see now is general change of china's policy china is going to play a more active role and as we see americans trying to remove chinese can petition for vital regions of the south asia middle east and africa not all north africa but also central african nations which resources so china has quite a lot of options. first of all of course more actually was actually china is the major creditor of the united states and today the financial rating for fear that it was changing has been changed so i guess that china has quite a lot of leverage still to influence the situation both economic and political. journalist asked in return he says libya is not the only area where beijing and washington in traffic class. many people say that china of course is going to be the new. chinese investment in iran. hundred sixty five billion dollars it is rapidly finding problems of un resolutions regarding iran so in that case beijing and washington interests coincide i think there has been a cold war since the second world war with china arguably it i

has passed vestments you managed to find out you might in china you actually believe that the united states is trying to conspire against china with their actions in libya how do you figure well i don't know exactly what i believe but that certainly comes to mind china has according to their own reports fifty large scale lower energy and construction investments in libya and john is relying on africa for its future energy needs should i go a little nigeria and libya and so what we may see here is the united states taking advantage of the protest movement to evict china from energy sources well hold on hold on a minute if that is the case you know this was all path began with a un resolution cataca vetoed it why wouldn't they have to say if the thicker so high for them. well there are a lot of reasons for that one they may not have been ready for a confrontation with united states. two they may simply say well you know we're going to lose our investments but the americans are getting in even deeper. and three they may have thought that the resolution meant what it said it obviously ha

back then russia and china abstained. passing the no fly zone resolution this time judging by the statements coming out of these countries it's highly likely they will support a similar when it comes to syria. the u.n. which is an investigation into the violence washington is pushing for sanctions the president of the arab more association says syria can't be dealt with like the other arab uprisings. in the west in both instances like the leaders they don't like laughing and they don't like i said they don't like the regime in both countries however the situation is slightly different you know clearly the regime in syria has some support as we're seeing here are some supporters region and certainly i think the intervention of the west in syria if it is going to go down the same line as it has started and i think that would be very disadvantageous to the west and to the security of the region i think it would be a heavy rains rather than a help even though everybody is claiming that they are stopping the killing but if you

china very much. china has suffered from labor unrest and a shortage of labor. the government feels it is important for china to continue to thrive, so they have developed a plan from 2010 to 2020. one key element is that they're going to increase the talent pool and attract talent -- in the past, to attract capital, not talent. they have developed a talent plan, attracting talent from overseas, including foreigners. china -- the service industry is 42%. u.s. is about 70% to 80%. you'll see a lot of activities, a lot innovation, a lot of entrepreneurs that rely primarily on talent. that is where china is really in doubt. for the next 30 years, we're trying to shift the model from population dividend to talent dividend. china has about 7 million university graduates every year, actually. in the next 10 years, china could add another almost 100 billion college graduates to increase the working population. for -- from 400 million to 700 million college graduates. bamut in case you have students studying

all the only ones to talk about policy of china towards the whole situation china has always advocated no involvement policy but what we see now is a general change of china's policy china is going to play a more active role and as we see now americans are trying to remove chinese competition through many regions of the rules south asia middle east and africa not only north africa but also central africa which is rich in resources so china has quite a lot of options to. first of all of course more she wants to know the church china is the major creditor of the united states and today their financial raging if you like it states was changed has been changed so i guess that china has quite a lot of levers still influence the situation both economic and political. journalism should return she says that libya is not the only area where bridging washington's interests clash. many people say that china of course is going to be the new superpower chinese investment in iran totals some hundred billion dollars or so it is rapidly finding problems with un resolutions regarding iran so in that ca

brazil russia india china and south africa are pretty much a right as they strive to take an even greater slice of the world's economy so any further details in the people. is eight pm wednesday night here in moscow welcome if you just joined us this is the r.t. news channel my name is kevin owen and first with the russian presidential election less than a year away now public interest in who will be running for the top seat is harder than ever become true to most powerful politicians have spoken on the issue explaining their positions as cross to sara first got the details even to you what more do we know from the president and prime minister in terms of mixed year's election. present a bit of prime minister putin has touched on the twenty twelve elections and spoke to the speculation really a prime minister putin like when he attended a medical workers for and. nothing to say there was nothing really given away but he did say other things being. i repeat president. the presidency decision will be made taking into account the economic social and political issues in the run up to the elec

inequalities and interference in bolivia these are what dominate the meeting of brazil russia india china and south africa all the details from the chinese island in a few moments. facebook twitter and panic buttons the u.s. uses technology to spread democracy in the arab world but are their intentions really so innocent. pakistan demands the u.s. cuts addictively in the country as relations soured by drone attacks and civilian deaths can't their lowest level since nine eleven. is a day on the russian capital you're watching r t was nearing a joshua welcome to the program the world's emerging economic giants are pushing for a bigger cloud and global financial architecture and policy the leaders of russia brazil india china and south africa or the so-called brics have been flexing their muscles in issues ranging from a response to canonical balances and the crisis in libya well it's now cross slide over spawn of chess or cilia who is in a chinese resort to find out for us we're gathering is taking place already. it seems like that we are seeing the emergence of a new force in global affair

china is poised to overtake the u.s. economy and twenty sixteen just five years from now and much sooner than previously expected now the rise of china and the relative decline of america is one of the biggest stories of our time. time the implications are visible nearly everywhere from sugar factories in the midwest to soaring cost of oil and other commodities if the end of america's economic hedge money is truly imminent what are the implications for the globe and for free market capitalism but with us to explain how and why we got here and what the future has in store is max rod wolff economist at the new school. max thank you so much for being here we all knew that this was coming that china was on the rise but i think that no one really have the sense that it was going to happen so quickly i mean if you look back just a decade ago the u.s. economy was i think something like three times the size of china how do we get to this point so fast but part of what happened is that the united states has been growing at about

take china. there are some areas were we in china are rifles. if china tries to push us out from the coast to the second i was chang that is pretty much zero-sum. i think we are going to stay much closer and that is a debate in another context but that could be zero-sum. if on the other hand they want to do something about climate change, the better china gets the climate change the better off we are. they are better off, we are better off. so in some situations where it is zero-sum and other situations it is positive-sum, and there will be some better mix of elements of both, so it is hard to get the public to think in those terms. i mean it is much easier to have back in the cold war, the iron curtain and a clear line and good guys on the side of bad guys on that side. and the world in which you have the rise of the rest and the diffusion of power from state to nonstate actors is going to have a much more complex world which is going to require much more subtle strategies and that is hard in our political culture for politicians to explain tha

seas and the east china sea. in particular, some of us in government were struck by the fact that we know there's a very robust debate going on in china about this whole concept of biting your time. what does this grand strategy mean for china? at the same time as the debate is going on, you see some assertive behavior. the last point i will make is on the policy implications. i thought they did a nice job of showing the policy implications. how do you shape policy behavior is? we have evidence to bear on some of that. over the last 30 years, there are several areas in which u.s. policy, i would argue, has had a defining in: shaping chinese behavior. in particular, chinese behavior on international trade, non- proliferation, and of course the chinese approach to multilateralism in the east asia context. it is not as simple as reinforcing the voices you likened china and being mean to the guys you don't like. it is not that simple. i would encourage the authors to look at what the mix of incentives is within the i

china has 4,000-year history, and china has-- deals with problems as a historic phenomenon. so we are very problem oriented. the chinese are conceptually oriented. and i have noticed we sometimes have problems because the the chinese-- we doll three or four different things for totally disparate reasons-- receive the dawley lawmaker aarm sales to taiwan, currency exchange-- they all are done for different reasons. >> right. absolutely. >> not connected with each other. >> that's right. >> the chinese say there has to be a common theory here. and then they deal with the theory. they don't deal with the -- >> as you travel from country to country, whether china or the middle east, have to correct impressions of your motivation. and your actions. >> well, we try to correct impressions. sometimes we are successful and sometimes we are not. but i think this point that henry's making is not only important for china because i see it myself. i see it all the time that there are assumptions about what we're doing and why we're doing it that have absolutely never crossed our minds but

not at least partially mainland china until the late one nine hundred eighty s. its influence in the world economy was minimal at thirty years later china is the world's top manufacturer the second largest economy after it was sane and one of the fastest growing emerging economies of the brics brazil russia india and china has accounted for a third of the global g.d.p. growth over the last ten years letting economists speak of the global economic power shift the wealth the g seven economies are predicted to be overtaken by the brics within the next decade of so the leaders of the bric countries held their first summit in russia. two years ago where they discussed ways to reshape the world financial system they spoke of the need to reduce dependency on the u.s. dollar some time later china and russia this sided to use their own national currencies for bilateral trade agreed group has recently been joined by south africa the biggest economy on the continent. sucks when the chain break ten years ago expects a major emerging market slowdown and might twenty twenty co