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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

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.

India’s annual growth in GDP fell to 4.5 per cent in the third quarter (July-September) of the year due to a number of factors – including slowdown in private consumption, investment, exports, credit (money to produce goods) growth and demand in the market.  India’s manufacturing activity picked up in November as new orders and output rose at a faster pace leading to rising business sentiment in the country.  The Nikkei India Manufacturing PMI rose to 51.2 in November (Against 50.6 in October) indicating that business conditions in the India’s manufacturing sector improved during the month.  On the trade front, exports and imports declined by 1% and 13% respectively, over the same period last year. No further change in interest rates was observed since Reserve Bank of India’s repo rate cut in October.

China’s manufacturing activity returned to growth in November for the first time in seven months signalling a modest improvement in the health of China’s manufacturing sector.  The official China Manufacturing PMI reading for the month came in at 50.2 up from 49.3 in October to hit its highest level since March. On the trade front, exports declined by 2.5% but imports increased marginally by 0.2%, over the same period last year.

 

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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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