BRICS Countries: Delayed Reforms are Jeopardising Positive Development
BERLIN and RIO DE JANEIRO, October 15, 2012 /PRNewswire/ --
Growth alone will not resolve problems if emerging markets do not change at the same time
Contrary to the forecasts of success in recent years, the 'BRICS' (Brazil, Russia, India, China and South Africa) are greatly in need of reform in key political areas. At the same time, their political systems often lack the capacity to reform, which is jeopardising future growth potential. A large-scale international comparative study by the German Bertelsmann Stiftung also comes to the same conclusion.
The urgency of the problem and the capacities for reform vary significantly between the five countries. By comparison, Brazil has the most promising future prospects. Here, major reforms, for example in the fight against poverty a...