BRIC was a mirage created by a bank without any geopolitc or political sense.
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BRICS
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I said same thing yesterday!
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Italy economic basket case? Economy 1.5x Russia. Low deficit and primary surplus. Has problems causing slow growth at rate lower than cost of debt causing debt to increase at compounding rate but issues are more political than economic. Political basket case.
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Italy has issues right now, but agree that referring to it as a basketcase w/out a place in the G7 is a shortcoming of the article, which makes good points, overall (imo).
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Agreed
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