Redefinition of BRIC

Discussion in 'General Global Topics' started by ekrem, Jan 17, 2011.

  1. ekrem
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    ekrem VIP Member

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    BRIC Creator O?Neill Seeks to Revamp Emerging-Market Definition - Bloomberg

    The chairman of Goldman Sachs Asset Management plans to add Mexico, South Korea, Turkey and Indonesia into a new grouping with the Brics – Brazil, Russia, India and China – that he dubs “growth markets”.
    (...)
    The concept of “emerging markets” was coined 30 years ago by Antoine van Agtmael, then a World Bank economist and now chairman of Emerging Markets Management, an investment firm. His aim was to replace patronising phrases such as “third world”.
    (....)
    “Some emerging markets should be traded as emerging markets – they are illiquid and small, and investors should remember that, (...)
    But any economy from the emerging markets world that is already 1 per cent of global GDP or more, and has the potential for that to rise, has the ability to be taken seriously.”

    FT.com / Markets - ?Bric? creator adds newcomers to list
     
  2. ekrem
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    After Turkey has achieved to raise its credit rating 2 times during the economic crisis as the only OECD country, finally in 2011 Turkey is set to be raised to investment-rate credit rating.
    It means 'safe to invest'.

    Turkey Debt Rating Reaching Investment Grade Possible By June - Bloomberg

    This will pour more money into Turkey from our Arab and Chinese friends. And from others.

    Credit-Default-Swaps already are better then 9 EU members:
    Turkey’s credit default swaps trade at historic lows - Hurriyet Daily News and Economic Review
     
  3. ekrem
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  4. ekrem
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  5. ekrem
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    PriceWaterHouseCoopers says, that Family companies in Turkey represent 95 percent of the workforce and they account for 75 percent of the national income.
    Family companies growing in Turkey, research says - Hurriyet Daily News and Economic Review

    It is not the elitist and corporatist model of the USA.
    Off course, we also have big corporations, but the economic model is modeled after Germany, where family SME's represent the backbone of the German economy.
     
  6. editec
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    editec Mr. Forgot-it-All

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    If I were younger I'd seriously consider checking out Brazil.

    It is, I think, a nation with a hell of a future in front of it.
     
  7. ekrem
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    Yes, Brazil will become a true global power.
    The only problem they have, like in Americas generally - is organized crime in the suburbs. In 2014 Brazil will host the World Soccer Championship, so the Brazilian Police is currently cracking those illegal organizations down.
    Other then that, Brazil doesn't seem to have big issues threatening its growth path.

    They are sending the Army into the suburbs of the big cities:
    (Video)
    Rio police use tanks against gangs | euronews, no comment

    (Text)
    Brazil says Rio violence will not affect World Cup - Latest sport news
    Police squeeze drug gangs in Rio’s favelas | euronews, world news
     
  8. ekrem
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  9. Ropey
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    Ropey To Life! Gold Supporting Member Supporting Member

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    Oh, yes, there is growth in that arena. Considering the stage that those countries set as far as modernization goes, it is necessary.

    But outclass the West?

    Well, you did yous definitive word "May".

    :razz:
     
  10. ekrem
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    Turkish investments abroad grow more than sixfold since 2001.

    2001: $3.7 billion
    2011: $23.6 billion

    To the Netherlands has gone the most with $5.1 billion investments.
    Turkish investments abroad grow more than sixfold since 2001

    Off course, grouchy aunt Ropey will again have to say something grouchy.
     
    Last edited: Jan 19, 2011

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