It's been ten years since Jim O'Neill conceived of the BRIC acronym.
He and his team made a startling prediction: Four developing nations- Brazil, Russia, India, and China (the BRICs)-would overtake the six
largest Western economies within forty years. The BRIC analysis
permanently changed the world of global investing, and its accuracy has
stood the test of time.
The Growth Map features O'Neill's personal account of the BRIC
phenomenon, how it has evolved, and where those four key nations
currently stand after a turbulent decade. And the book also offers an
equally bold prediction about the "Next Eleven" countries: Bangladesh,
Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, Philippines, South
Korea, Turkey, and Vietnam. These developing nations may not seem
exceptional today, but they offer exciting opportunities for investors
over the next decade, just as BRIC did before them.
O'Neill also shares several compelling insights about the world
economy. He reveals the value for growing countries in being "willing to
play" by meaningfully committing to policies that encourage further
growth and engagement with globalization. He explains how the g20 can
adjust to better incorporate the BRICs and to better reflect the balance
of the global economy.
Finally, O'Neill makes the counterintuitive claim that good things can
quite often come from crises. While established economic powers may see
the rise of the BRICs as a threat, international trade benefits us all
over the long term. Likewise, the recent financial crisis revealed deep
problems in our economic systems, problems we now have the opportunity to
fix.
A work of astute and absorbing analysis, The Growth Map is an
indispensable guide for every investor and every participant in the
global economy. Anyone who wants to understand the developing world would
do well to heed the man called "one of the most sought-after economic
commentators on the planet." (The Telegraph)
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