The rise of the BRICs, especially China and India, and the end of the American Century is a topic that has occupied policy makers, economists and investors throughout the past decade
American leadership and power is diversified across multiple areas, and while these areas are interrelated, a shift in performance across one or several does not necessarily indicate a general “American Decline” or the inevitability of the ascendancy of others
The TEST is a test of broad development of the nations. The TEST looks at the performance of countries from the perspective of Trade and Macro, Equity Markets, Society and Trends. We have taken a limited number of indicators to form the cut of the TEST below.
The Indian economy continued to perform well in June, with robust growth in manufacturing and trade. The Nikkei India Manufacturing PMI has its fastest growth in 2018 at 53.1 in June (vs. 51.2 in May), remaining in expansion territory, and signalling the improvement in the health of India’s manufacturing economy in the year so far. There was positive news on the trade front, with exports and imports, increasing by 18% and 21% respectively, over the same period last year. No further change in interest rates was observed since Reserve Bank of India’s repo rate increase in early June.
China’s economic performance remained steady in June, with manufacturing activity expanding at a higher pace than previous months along with both, exports and imports registering growth. The Official China Manufacturing PMI reading for the month came in at 51.0, in line with analyst expectations of 51.0 in May, reflecting an expansion in factory output. On the trade front, exports and imports witnessed a significant increase by 10% and 14% respectively, over the same period last year.
Note: Monthly macro-economic and market figures are typically released one to two weeks after the close of each month. Accordingly, the Monthly Indicators track the previous month’s data
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