Tag Archives: China

A Broken BRIC

BRIC stands for Brazil, Russia, India and China – Four hybrid socialist economies (supposedly) destined to become the world’s most powerful economies by 2050.
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China – A Journey from Cowries to 8.227 Trillion USD

China was the first country to realize that barter may not be able to suffice the household demand entirely as there were instances of produce returned un-exchanged as all one produces may not be required or exchanged. So China pioneered a medium of exchange in 1200 BC, it introduced cowrie shells as currency.
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