Jim O'Neill, the former Chief Economist at Goldman Sachs and the man credited with inventing the "BRIC" acronym to focus minds on the fast growing economies of Brazil, Russia, India, China and later South Africa, has now tipped four new countries for global greatness with the acronym MINT standing for Mexico, Indonesia, Nigeria and Turkey.
The so-called “MINT” countries all have the basic building blocks of growth: large, youthful populations and ample markets to sell to, both at home and abroad. Yet they also face substantial challenges, ranging from corruption, debt and governance problems to poor infrastructure and education.
The MINT countries demand the world’s attention as they grow to prominence. Jim O’Neill says: “For 12 years I have been asked why just Brazil, Russia, India and China? What about other large populated emerging nations? So I decided to travel to those four which have the best chance of joining the BRIC countries in the top-10 largest economies in the world by 2050 to find out how real their chances are.”
In a rapidly changing world, we have to keep looking at how the horizon is changing and just as BRICS has given us a vision of a brave mew world, it would be wise to take note of this new group of countries who are starting to make their presence felt
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