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.
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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.
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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
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