There is much talk now in all sorts of bourgeois media all over the world about the glory and resurgence of the ‘emerging’ countries and their economy. The media is never tired of highlighting that these countries are turning out to be the new locomotive of the global capitalist economy. The significance of their role in resolving the intensifying crisis of world capitalism is also being asserted ceaselessly. There is also talk of the shifting of the balance of economic power and importance towards the emerging countries such as China, India, Brazil etc. These countries are becoming more and more important to world capital.