Emerging economies: after the BRICS arrive MIST or MINT
Having heard so much about the BRICS, the acronyms of the moment in the field of emerging economies are two : MIST and MINT, which are respectively for Mexico , Indonesia, South Korea and Turkey or Mexico , Indonesia, Nigeria and Turkey. Two terms coined by Jim O’Neill of Goldman Sachs, the same that created the BRIC acrostic. These are the new markets where investors aim more “cutting edge” or those who are most familiar with the reckless speculation – you decide.
It is worthwhile to learn a bit more of these emerging economies. They have in common a strong population growth for at least the next 20 years and also their prospects for economic growth that is interesting.
Mexico is making rapid progress in terms of infrastructure; the middle class is swelling resulting in market growth in domestic consumption and a decrease in unemployment, while the poverty rate is declining rapidly. The expectations of the GDP per capita will exceed that of all European countries (except the first three of the league) in 2050.
Indonesia has a huge population and a mixed economy in which both the private and public sector are extremely important. This is the strongest economy in Southeast Asia and is already part of the G20. It should enter the ranks of the 10 strongest economies in the country over the next decade.
South Korea is a country infinitely more developed even stronger than the BRIC, with a growth of 4-6 % per annum and a high long-term sustainability of growth. In 2009, its GDP already exceeded that of Canada, which also fell within the G7. In 2010, it surpassed Spain and probably before 2016 will exceed even Italy, becoming the eleventh -largest economy. The credit rating of South Korea is likely to reach the AAA level before 2050.
Turkey is growing faster than China and is the third largest economy in the world in terms of growth rate. With the advantage of growing more for the building and for export (as do China and Russia). The buildings alone account for about 6% of the Turkish economy and they are connected to other important sectors such as steel, wood and energy.
Nigeria can be defined as a middle-income country, with many mixed economy growth sectors: financial services, communications. And the third African economy in importance after South Africa and Egypt and probably will become part of the 20 largest economies in the world by 2020.