1/18/2011

Turkey to enter “redefined” BRIC

Aksam – The term BRIC (Brazil, Russia, India and China), coined to describe the four large emerging nations of the world, will soon be redefined to include four newcomers, Turkey, Indonesia, South Korea and Mexico.
The inventor of the acronym Jim O’Neill, Chairman of Goldman Sachs Asset Management, said that the so-called BRIC countries and the term “growth market” need a new definition, according to British daily the Financial Times.
O’Neill plans to add Turkey, Indonesia, South Korea and Mexico to the BRIC economies and to group them as “growth markets”.
Planning to explain the new approach to his clients later this month, the Goldman Sachs Chairman went on to say, “Any economy from the emerging markets that is already 1 per cent of global GDP or more, and has the potential to rise, has the ability to be taken seriously.”
turkey; bric; emerging economies; goldman sachs; jim oneill; growth markets; turkish economy

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