Down with “Emerging Markets”
Many of the countries referred to nowadays as "emerging markets" have already emerged. Each of the BRIC countries – Brazil, Russia, India, and China – along with South Korea, Indonesia, Mexico, and Turkey, accounts for at least 1% of the global economy, and several more "growth economies" are set to emerge in the next 20 years.
LONDON – It has been nine years since I coined the acronym “BRIC,” which has become synonymous with the rise of Brazil, Russia, India, and China. It has been more than seven years since my colleagues at Goldman Sachs and I first published an outlook to 2050 in which we suggested that the four BRIC economies could emerge bigger than the G-7 economies, and, together with the United States, would constitute the world’s five largest.
LONDON – It has been nine years since I coined the acronym “BRIC,” which has become synonymous with the rise of Brazil, Russia, India, and China. It has been more than seven years since my colleagues at Goldman Sachs and I first published an outlook to 2050 in which we suggested that the four BRIC economies could emerge bigger than the G-7 economies, and, together with the United States, would constitute the world’s five largest.