CNN tweet chat: Which economies will carry globe to recovery?
The BRIC nations were tagged to drag the globe out of economic despair. But are they failing? Ahead of the St. Petersburg International Economic Forum on June 20-22, representatives from the U.N. and OECD joined authors and experts to debate where we should be looking for hope.
- CNN's Lauren Said-Moorhouse kicked off the debate by asking which countries will boost the world's economy. Focus was on Asian behemoths China and India, but our experts were far from convinced.
- The general consensus among our experts, including the OECD's Richard Herd, was that China needed to step up its reform efforts in order to sustain growth. While its 1.3 billion people -- and their demand for commodities -- are driving growth, its outlook is far grimmer than it was just months ago.
- Helen Clark, the Administrator of the United Nations Development Programme and former prime minister of New Zealand, also pointed to the rising economic potential of the South, and especially the future role of Africa (the tweet chat-savvy UNDP even tweeted a picture of Clark making her virtual points).
- Ozwald Boateng, a London-based fashion designer, and co-founder of Made in Africa Foundation, has previously written for CNN on this: Africa is in the midst of an economic boom.
- But too many problems cast shadows on Africa's economic dreams. Growing inequality, poverty, lack of access to quality education are all holding Africa back. Author of The End of Cheap China Shaun Rein points out you need size as well as potential.
- Growth in some parts of Africa is outstripping the global average, while the BRIC nations are struggling to maintain the explosive growth of recent years. So, CNN's Irene Chapple asked:
- There's no doubt the BRIC nations have shown impressive economic progress. But their status is dragged down by their inability to restructure their economies. Meanwhile, around the world, global recovery is being threatened by soaring unemployment. General Secretary of the International Trade Union Confederation, Sharan Burrow, joined to make her point.
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- Robinson OliveiraBrazil needs a huge tax reform to grow, here we pay twice, three times more for a product. Our government is heavy, people don't support it anymore, see the...Brazil needs a huge tax reform to grow, here we pay twice, three times more for a product. Our government is heavy, people don't support it anymore, see the headlines: Riots in Brazil.more2013-06-19T16:59:03.107Z