Move over BRICs, it is the time for TIMBIs
Posted on: 05 Dec 2011
Jim O'Neill, an economist working for Goldman Sachs coined the term BRICs on 30 November 2001. In the coming decade
Brazil, Russia, India and China (BRIC) will dominate global economy, he said. A decade has passed and what is the current prospects of the BRICs group? In China and Russia, working-age populations are declining, as are exports, while still-rigid political systems stifle free thought and hamper technical advance. Future still looks bright in Brazil and India, but these countries have new company -- a group of dynamic and democratic emerging economies. The real economies that will shake up the world over the next few decades need a new acronym - Let's call them the TIMBIs: Turkey, India, Mexico, Brazil, and Indonesia. To read about an interesting paradigm shift in global economy from Foreign Policy click here.