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BNN had a couple of segments yesterday on the BRIC nations. Rachel Ziemba, senior analyst, Roubini Global Economics states the possibility that Russia should be removed from the group. The main reason is that its economy is not as well diversified as the other BRIC nations and is too dependent on energy.
She also discusses the additions of Turkey, Vietnam, Indonesia, and South Africa to the group. Strongest balances sheets are in Asia and latin America. Russia will have a very sharp economic contraction, and its population is contracting. Growth will be sluggish, they have very different growth drivers. However, should oil prices remain strong there will be investment in Russia.
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