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CNN 2011-12-23

时间:2012-01-11 08:02来源:互联网 提供网友:gmeng   字体: [ ]

Last week marked exactly 10 years since the term"BRIC"was coined.The cagey acronym1 for Brazil,Russia,India and China used to describe the new powerhouse emerging markets.But the man who invented the moniker now says one of the four has been a great disappointment,though not Russia with all its recent troubles,not Brazil whose economy contracted in the last quarter,and certainly not china which continues to power on.Goldman Sachs Jim O'neill says that the country that has been the biggest let-down has been India.He pointed2 out this last week that India's inability to attract foreign investment could actually lead to a brows of payments crisis.From BRIC to basket case,what in the world is going on? Well,some numbers tell a troubling story:growth has dipped below 7% for the first time in two years.The indian rupee is the Asia's worst performing currency this year,falling to a historic low against the dollar.India's deficits3 are soaring and funding is drying up.India received less than 20 billion dollars in foreign direct investment in the first 6 months of 2011.China got 3 times that amount.Even Russia with a smaller GDP took in more.Why is India struggling? Sadly the real problem isn't economics.India has a very dynamic private sector4,probably the most dynamic Indian emerging markets.But it has a government that simply doesn't work and it is not for lack of knowledge.India has the know-how5 and the government is after all led by a reform-minded,world-class economist,Prime Minister Manmohan Singh.The problem is politics.The world's largest democracy seems to be paralyzed,since government recently announced a plan to open up India's retail6 sector to foreign investors,a continuation of the reforms that jump-started the economy 20 years ago.The proposal would have made it easier for big western chains like Wal-Mart to set up a shop in India.Now,Indian agriculture is hugely inefficient,_huge cuts and because supply chains are inefficient,up to a third of farm products,vegetables for example rot before they reach the markets.So the Wal-Mart model would transform India's agriculture and its retail sectors7 that would empower farmers,lower prices for consumers and creat huge gains of productivity.But it was not to be.Opposition8 turned this into a story of the big guy fighting the little guy.Wal-Mart was_.Parliament was_for days and politicians mobilized mass demonstrations9.Small stores across the country were kept closed in protest.So,what does the govenrment do? Instead of standing10 firm,it backtracked and cancelled plans to reform the retail sector altogether.This is a depressingly familiar pattern.For 2 years now,India's government has done nothing,hanging onto power,presenting no plans to open up the economy,raise living standards,build infrastructure11 or attract new investment.In the west,India's leaders sell a story of a dynamic,incredible India.India,Incredible India.But at home,they abandoned the populist,protectionist sentiment and_subsidies and do bascially nothing.And that paralysis12 is hurting the economy.India's blessing13 and curse is that it has a messy,chaotic and decentralized democracy.Unlike China it has no unified14 sense of direction but the prevailing15 view has often been that when the going gets tough,New Delhi gets its act together.That's what it did 20 years ago when it was on the brink16 of defaulting and the brows of payments crisis.Well,this time once again,it's time for urgent reform.New Delhi has for years expressed try and be part of the Brics.Well if it doesn't get its act together,10 years from now,People might still be praising the Brics,except that the"I"in the Bric might stand for Indonesia,not India.


1 acronym Ny8zN     
  • That's a mouthful of an acronym for a very simple technology.对于一项非常简单的技术来说,这是一个很绕口的缩写词。
  • TSDF is an acronym for Treatment, Storage and Disposal Facilities.TSDF是处理,储存和处置设施的一个缩写。
2 pointed Il8zB4     
  • He gave me a very sharp pointed pencil.他给我一支削得非常尖的铅笔。
  • She wished to show Mrs.John Dashwood by this pointed invitation to her brother.她想通过对达茨伍德夫人提出直截了当的邀请向她的哥哥表示出来。
3 deficits 08e04c986818dbc337627eabec5b794e     
n.不足额( deficit的名词复数 );赤字;亏空;亏损
  • The Ministry of Finance consistently overestimated its budget deficits. 财政部一贯高估预算赤字。 来自《简明英汉词典》
  • Many of the world's farmers are also incurring economic deficits. 世界上许多农民还在遭受经济上的亏损。 来自辞典例句
4 sector yjczYn     
  • The export sector will aid the economic recovery. 出口产业将促进经济复苏。
  • The enemy have attacked the British sector.敌人已进攻英国防区。
5 know-how TxeyA     
  • He hasn't got the know-how to run a farm.他没有经营农场的专业知识。
  • I don't have much know-how about engines.发动机方面的技术知识我知之甚少。
6 retail VWoxC     
  • In this shop they retail tobacco and sweets.这家铺子零售香烟和糖果。
  • These shoes retail at 10 yuan a pair.这些鞋子零卖10元一双。
7 sectors 218ffb34fa5fb6bc1691e90cd45ad627     
n.部门( sector的名词复数 );领域;防御地区;扇形
  • Berlin was divided into four sectors after the war. 战后柏林分成了4 个区。 来自《简明英汉词典》
  • Industry and agriculture are the two important sectors of the national economy. 工业和农业是国民经济的两个重要部门。 来自《现代汉英综合大词典》
8 opposition eIUxU     
  • The party leader is facing opposition in his own backyard.该党领袖在自己的党內遇到了反对。
  • The police tried to break down the prisoner's opposition.警察设法制住了那个囚犯的反抗。
9 demonstrations 0922be6a2a3be4bdbebd28c620ab8f2d     
证明( demonstration的名词复数 ); 表明; 表达; 游行示威
  • Lectures will be interspersed with practical demonstrations. 讲课中将不时插入实际示范。
  • The new military government has banned strikes and demonstrations. 新的军人政府禁止罢工和示威活动。
10 standing 2hCzgo     
  • After the earthquake only a few houses were left standing.地震过后只有几幢房屋还立着。
  • They're standing out against any change in the law.他们坚决反对对法律做任何修改。
11 infrastructure UbBz5     
  • We should step up the development of infrastructure for research.加强科学基础设施建设。
  • We should strengthen cultural infrastructure and boost various types of popular culture.加强文化基础设施建设,发展各类群众文化。
12 paralysis pKMxY     
  • The paralysis affects his right leg and he can only walk with difficulty.他右腿瘫痪步履维艰。
  • The paralysis affects his right leg and he can only walk with difficulty.他右腿瘫痪步履维艰。
13 blessing UxDztJ     
  • The blessing was said in Hebrew.祷告用了希伯来语。
  • A double blessing has descended upon the house.双喜临门。
14 unified 40b03ccf3c2da88cc503272d1de3441c     
(unify 的过去式和过去分词); 统一的; 统一标准的; 一元化的
  • The teacher unified the answer of her pupil with hers. 老师核对了学生的答案。
  • The First Emperor of Qin unified China in 221 B.C. 秦始皇于公元前221年统一中国。
15 prevailing E1ozF     
  • She wears a fashionable hair style prevailing in the city.她的发型是这个城市流行的款式。
  • This reflects attitudes and values prevailing in society.这反映了社会上盛行的态度和价值观。
16 brink OWazM     
  • The tree grew on the brink of the cliff.那棵树生长在峭壁的边缘。
  • The two countries were poised on the brink of war.这两个国家处于交战的边缘。
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