The economic might of many of the Growth Market countries—certainly the four BRICs (Brazil, Russia, India and China)—is so vital to the world economy that people have to start thinking about just how much the world is changing, and what a better place it is as a result of it.
- Jim O'Neill, Chairman, Goldman Sachs Asset Management
Introducing The Growth Map by Jim O’Neill
Ten years ago, Jim O'Neill , Chairman of Goldman Sachs Asset Management, coined the BRIC concept, which became synonymous with the rise of Brazil, Russia, India and China, and their influence on the world economy. Over the past decade, all four BRIC nations have experienced tremendous growth and are now among the top ten economies in the world.
In his new book, The Growth Map, Jim provides a personal memoir of how he developed BRICs and provides insight on how he views the world today as well as opportunities he sees in the future.
Excerpt from the book:
"In early 2011 I decided that the term ‘emerging markets’ could no longer be applied to the BRIC s and four of the N-11: Indonesia, Korea, Mexico and Turkey. These are now countries with largely sound government debt and deficit positions, robust trading networks and huge numbers of people all moving steadily up the economic ladder. For investors to understand the scale of the opportunity here, and for policymakers to grasp what is changing in the world, they must see these countries apart from the traditional ‘emerging markets’. I decided that a more accurate term would be Growth Markets."
Read Jim O'Neill's Viewpoints on the GSAM website.