Brics countries may be growing faster, but they're not growing friendlier
The developed world doesn't have much good news for us these days. Eurozone growth forecasts are on the zero mark. US economic data continues to disappoint. Japan and Australia are facing headwinds. Surely then, it is time to open shop where the growth story really is happening - in the Brics?
Well, that's not what business executives seem to think. According to a quarterly survey led by the Economist Intelligence Unit, leaders see the biggest emerging economies as less and less friendly places to do business. And they seem to be voting with their wallet: amid renewed tremors in Greece and Spain, cash outflows show that few believe the Brics are the safest, easiest place to park one's money. EM equities fund have seen outflows equal to 0.3% of assets under management in the week to Wednesday alone.
So what's wrong with the Brics?Read More