Despite the falling weaknesses in the economy, Dr. Manmohan Singh is the pundit among the BRICS heads of states.
His idea and demand for an orderly monetary stimulus exit by developed countries (the US Fed) has been raised by the BRICS leaders at the ongoing G20 meet. Dr Singh has demanded the orderly exit before start of the G20 meeting.
China and Russia have separately demanded the ‘orderly exit’ so that the developing countries should not continue to suffer. The BRICS itself has created a US $100 billion fund to cushion member countries during currency crisis episodes. But such measures proved ineffective this time as the proposed fund was supposed to be set apart at the member countries central banks.
So far an unwelcome trend of the meeting is that it has given high priority to the Syrian crisis. Political agenda has faded economic priorities especially that of the miseries of the emerging world due to the starting of US Fed’s monetary stimulus exit programme.
