ruchir sharma is joining us.e hear so much about russia, india, and china, tell us their importance in the coming years. >> a lot has been discussed about what this slow down means for the western world. what really this is doing to all these countries out there in terms of china, russia, bra gill, india. despite expectations they would be able to lift it and run as far as economic growth is concerned, we're seeing a slow down now come through in some of these countries. so the data out of china shows after 14 years of growing at 8% or more, there is a risk the chinese government will be dipping blow that. anything less than eight seems like a hard landing as far as china is concerned. and the same story for russia, india, and brazil. russia will struggle to get to 4% this year. and india is coming off eight or nine to six or seven. but some new will emerge as the leadership of tomorrow. >> i want to ask you where the leadership will be, but when you see china slowing down from 11% to 7%, that's a big number. >>

and let me tell you over the last 14 years, the guy who got it right most often was ruchir sharma. so he is not the typical 1% wall street guys out protesting. there's much to agree with this book. [inaudible] this enormous boom of the last decade that was something utterly weird about it. we had a situation where the imf, which is supposed to be the rescuer of that economies, there were no bad economies left so what to do? we got a situation where the imf was sacking staff left, right and center. with nothing to linda. the united states, enormous huge deficit, everybody else had supplement. it was iv to somebody this cannot last. alarm bells should have been ringing out the. i was very clear that india is unsustainable. but even after what from 2.5% to 6%. so from india, it is no great deal. we are underperforming africa. when this whole thing came down i was not surprised. ruchir is not surprised. you must remember who wrote this book a year ago. had he made these predictions about the world slow down, try going down, at the time if it are gone there would have been no confrontat