New York Times (December 6)
“Mexico, Indonesia, Nigeria and Turkey — the so-called MINT economies — along with the more developed South Korea,” could surpass Italy, the world’s eighth largest economy, to each contribute 3-5% of global GDP. The MINTs may even give some of the BRICs a run for their money. Jim O’Neil, who coined the term BRIC to refer to Brazil, Russia, India and China, thought each had potential to produce 5% of global GDP. China’s already there and India will be soon, but it’s becoming apparent that Brazil and Russia will struggle without reforms. While the MINTs “have many challenges, they all have exciting potential, and could become mini-giants, if not quite on the scale of some of their well-known BRIC colleagues.”
Tags: Brazil, BRIC, BRICS, China, GDP, India, Indonesia, Italy, Jim O’Neil, Mexico, MINT, Nigeria, Reforms, Russia, South Korea, Turkey
