Fortune, Jan 1, 2016 (II)

choi

(4) Ian Bremmer, The Last BRIC Standing; Under the leadership of Prime Minister Narendra Modi, India is doing what its once-celebrated cohorts in the emerging-markets bloc can no longer seem to do: emerge.
fortune.com/2015/12/28/bric-countries-india-narendra-modi/
("Yet India is benefiting from some important current trends. Its growth depends little on exports, limiting India’s vulnerability to slowing economies elsewhere, and as a major importer of energy and other commodities, it has benefited greatly from the sharply lower prices of the past few years”)

Note:
(a) A few weeks ago, Goldman Sachs finally conceded defeat for its BRICS fund, an investment vehicle focused on the hot emerging-markets bloc of another era. The fund had lost 88% of its assets from a peak in 2010."

Ye Xia, Goldman's BRIC Era Ends as Fund Folds After Years of Losses. Bloomberg BusinessWeek, Nov 8, 2015 (blog)
www.bloomberg.com/news/articles/ ... ter-years-of-losses
("The bank’s asset-management unit folded its money-losing BRIC fund, which invests in Brazil, Russia, India and China, and merged it last month with a broader emerging-market fund. Goldman Sachs pulled the plug on the nine-year-old product * * * [That is] Fourteen years after former Goldman Sachs economist Jim O’Neill coined the acronym that ushered in an unprecedented investment boom")
(b) "Russia (the 'R') is rusting like a Cold War–era Volga, hobbled by sanctions and a chief export (energy) that has cratered in value."

GAZ Volga
en.wikipedia.org/wiki/GAZ_Volga
(an automobile brand that originated in the Soviet Union to replace the venerated GAZ Pobeda in 1956; Manufacturer GAZ; Production 1956–2010)
(c) "China’s once-unstoppable economy is cooling quicker than a Sub-Zero, as reforms sputter forward."

Sub-Zero (brand)
https://en.wikipedia.org/wiki/Sub-Zero_(brand)
(by the Sub-Zero Freezer Company, Inc)
(d) "India, it should be emphasized, has a long way to go. More than 170 million of its people live on less than $1.90 per day, according to the World Bank. (China’s per capita income in 2014 was nearly five times as high as India’s $1,596.)"

Not "per capita income."  But "per capita GDP" according to foreign exchange rate.  ("Personal income" is always smaller than GDP (both per capita and national). Part of the reason: corporations have to retain a portion of profit (to distribute to its shareholders, and to pay corporate tax), then pays its employees, who are nationals of a country.)

A Guide to the National Income and Product Accounts of the United States. Bureau of Economic Analysis, US Department of Commerce, undated
www.bea.gov/national/pdf/nipaguid.pdf

, where "gross national product" and "personal income" are defined in page 5, and the tables showing their respective components, page 6. (In page 5, "Personal income (3-26)" means Table A, Account 3, Line 26.  This is for an entire country ("Billions of dollars" following the caption of Table A), not per capita.
(e) You should stop reading once you reach the quotation above -- because after that, the article is inane.