BRICs stumble
By BERNARD CONDON AP Business Writer
Posted: 10/05/2013 10:24:21 PM MDT
NEW YORKThe developing countries of Brazil, Russia, India and China recovered quickly from the financial crisis five years ago. Their spending helped keep a global recession from becoming a global depression.
Now they're stumbling.
Indians are buying fewer cars for the first time in a decade. Chinese are struggling as economic growth slows to a two-decade low. Even big-spending Brazilians, who like to buy everything from shoes to dental work on credit, are turning thriftyand angry. Hundreds of thousands took to the streets in June to protest rising prices and shoddy public services.
As developed countries improve, the BRICs stumble - El Paso Times
By BERNARD CONDON AP Business Writer
Posted: 10/05/2013 10:24:21 PM MDT
NEW YORKThe developing countries of Brazil, Russia, India and China recovered quickly from the financial crisis five years ago. Their spending helped keep a global recession from becoming a global depression.
Now they're stumbling.
Indians are buying fewer cars for the first time in a decade. Chinese are struggling as economic growth slows to a two-decade low. Even big-spending Brazilians, who like to buy everything from shoes to dental work on credit, are turning thriftyand angry. Hundreds of thousands took to the streets in June to protest rising prices and shoddy public services.
As developed countries improve, the BRICs stumble - El Paso Times