The “Next Eleven” and the World Economy
While China and India continue to drive the global economy, they are joined by a number of other high-population, high-potential countries, particularly in Asia. It is becoming increasingly clear that future growth will be based not just on one powerhouse country, but on region-wide gains in prosperity.
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LONDON – On a recent holiday in Vietnam, Cambodia, and Laos, I couldn’t resist thinking about these countries’ economic potential and ongoing policy challenges. After all, in 2005, my Goldman Sachs colleagues and I had listed Vietnam as one of the Next Eleven (N-11) – all countries with the potential to become important economies during this century.