The Philippines' BRICS future
By Dan Steinbock
Philippine Daily Inquirer
Monday, April 1st, 2013

20130421 Brics
Last week, Brazil, Russia, India, China and South Africa, or the BRICS nations, met for their fifth summit in South Africa. The growth prospects in these economies are no longer immune to the severe debt crises in the West. In the short term, India and South Africa may be at the biggest risk of sovereign-rating downgrade.

Among the emerging economies, the Philippines is best placed for an upgrade. It is favorably positioned to sustain growth in an exceptionally grim international landscape.

During the past decade, I have used much time to analyze and to consult on the transformation of the major advanced and large emerging economies worldwide. After the global crisis of 2008-09, this transformation has only accelerated.

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