China wants 'BRICS plus' to include 'friendly' countries, plan might hurt India's interests

[Sharpshooter12]

Again, you are conflating external debt with total debt. We do as we please with our internal debt, like every other country. And we don't borrow externally to pay our internal debt. The figure of 77% is for total public debt, and not external debt. So we raise money domestically to repay what is owed domestically. We can raise internal debt because our domestic economy produces enough income and people have enough faith in the government to buy its instruments.

Fair enough, let me be more specific, the actual figure for percentage of external borrowing for servicing debt is 73%. So my figure wasn't off by much. With 73% of your new external loans going to the payment of interest for the loans you already have, you are in no position to ask me

how does Pakistan pay its external debt?

 

[Peshwa]

India doesn't need to. Try getting something through US/UK/France. Three vetoes are waiting for you.

Aah... Ignorance + stupidity is a deadly combination.

Not to forget Russia!
Somehow the Pakistanis on PDF have convinced themselves that Russia will now back their policies!
Victims of their own propaganda! LOL

 

[Dungeness]

I suppose then you would have no problem with india joining the UNSC, since china has a policy of inclusive growth? Or is it that the inclusion is only limited to China's friends and minions?
Because Chinese inaction and reservation on expanding the UNSC is exactly the exclusivity that china seeks and values. So please spare us this lecture on Indian mentality, as china is no better or equally shallow. Only difference is that you don't have a free media and we do!

UNSC really has nothing to do with growth, exclusive or inclusive. India was not part of independent WWII allied force, UK represented you.

 

[Water Car Engineer]

Oh, BRICS, I forgot about this group. Are they still useless?

 

[Nilgiri]

Oh, BRICS, I forgot about this group. Are they still useless?

Purdee much. Good place to vent the usual complexes it seems though.

 

[The Accountant]

Doval the Devil wants to fight till the "Last Afgan". Pak's job is to sort that "Last Afgan" out ASAP. By the by, isn't it the same Afgan folks who desecrated their Somnath Temple and captured Delhi and decimated the Marahta army???? Dying man catches at a straw, but this time it turned out to be an anaconda!!!

You seems to be well versed in Islamic history ...

Yes brother ... History will repeat itself ... All muslims will be united once more like the old days and we will fight back IA ... There will be no sunni shia amongs just the followers of Allah and we will bring peace and justice to the land of Allah as it was brought to mankind by our beloved prophet ... InshAllah

 

[ashok321]

Russia wants to bring Greece into BRICS.
China wants to bring Pakistan into BRICS.
India wants to bring Argentina into BRICS.

What is the problem?

 

[Tamilnadu]

bring US,France,UK into the group.Germany too

 

[$@rJen]

Dude both Brazil and Russia are in recession right now. And South Africa's economy size is comparable to Pakistan's in nominal terms and much smaller to ours in PPP. And we are growing at much faster pace than either of these 3 economies.

Can't remove them because they're in recession... at the time BRICS waa formed these are one of the good economies.... tussia and Brazil r trillion $ dollars economy maybe south africa is not performing well.... Pakistan is just 230 billion and its struggling.... just last week pakistan borrowed 500million from china to keep its foreign reserves stable... how can it join a big boys club!!?? Like i said pakistan will be a liability to BRICS, Mexico has better chance than Pakistan

Ok , Keep smoking what are you smoking

Come out of the dreamy world to reality... we're talking about a country which just borrowed 500 nillion from china to keep its foreign reserves stable and with its puny 230 billion gdp joining in one of the elite group! !!? You need to stop smoking

 

[neem456]

For sake of discussion a lot of points can be made. For example our economy is roughly of the same size as that of South Africa in terms of nominal GDP ($320 billion compared to our $270 billion), while in purchasing power parity we are much larger than South Africa ($740 billion compared to our $1.05 Trillion).

At 200 million, our population is much larger than either of Russia's and South Africa's, and pretty much equal to that of Brazil. We are in south and hey our economy is doing pretty good for the last couple of years. So why not.

You can submit your application, we will decide on merit.
Till then patience and stand in queue.

 

[SBUS-CXK]

Russia wants to bring Greece into BRICS.
China wants to bring Pakistan into BRICS.
India wants to bring Argentina into BRICS.

What is the problem?

We agree with Greece and Argentina to enter BRICS. so why don't you agree with Pakistan?

 

[EndangeredSpecies]

Wow, you are acting as if India has no external debt at all. Sir you owe international money lenders more than $485 Billion and your government is borrowing to pay the interest over it, infact 77% of your new long-term loans are for servicing of the existing loans.

Your external debt is 22.7% of your Gross National Income, which is comparable to 23.9% of Pakistan's debt to GNI ratio which in turn is lower than Brazil's 24.1%.

So even with all that cherry picking there is not much difference there.

Here is the kicker.

India's forex reserve of 368 billion can service more than 3/4th of her external debt of 485 billion. Pakistan's 22 billion forex reserve can service less 1/3rd of her 74 billion dollar external debt. This is the reason why Pakistan when it comes to debt is more like a family living from pay cheques to pay cheques and taking more loans to service her old loans.

Sources
https://www.dawn.com/news/1312365
http://herald.dawn.com/news/1153618

We agree with Greece and Argentina to enter BRICS. so why don't you agree with Pakistan?

India will agree, for China's considerate support for India's membership in NSG.

 

[abrar khan]

We agree with Greece and Argentina to enter BRICS. so why don't you agree with Pakistan?

Because they are the worst enemy one can have. Ohh we are feeling so much isolation.

 

[B@tt!eDoom]

BRICS is such an yearly get together group..

Also Pakistan's economy is best suited for SAARC..

 

[EndangeredSpecies]

What everyone is not paying attention is to understand why China is trying to include these satellite countries in BRICS grouping. I guess answer is simple

1. To establish her arrival at a global stage where they can lead changes, basically to do what US did back in 60s or 70s ie to establish herself as a real super power.
2. To open a route into other non-agreeing countries like India to indirectly participate into China's ventures like OROB.

For both of these goals, they need agreement from important and large countries like Russia, Brazil and India. Hence this attemp. India can do well by negotating a deal with China. We will help you to establish your acceptance as a world power here in BRICS, if you help us to get into NSG or UNSC.