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https://blogs.wsj.com/indiarealtime/2016/10/15/brics-in-goa-the-search-for-the-next-emerging-market-acronyms/



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    • India Real Time

    Brics in Goa: The Search for the Next Emerging Market Acronyms

    From Brics to CIVETS, here are the most catchy terms

    GOA, Oct. 14, 2016 (Xinhua) -- A security guard stood guard in Goa, India, Oct. 14, 2016.

    GOA, Oct. 14, 2016 (Xinhua) — A security guard stood guard in Goa, India, Oct. 14, 2016.


    Photo:

    Bi Xiaoyang/Zuma Press

    By


    1 COMMENTS

    This weekend, leaders from the Brics nations are meeting in Goa in India to try to strengthen their cooperation.

    The group of diverse countries–which eventually became Brazil, Russia, India, China and South Africa–was originally promoted as the next big thing by a Goldman Sachs economist.

    More In Brics

    • India’s Modi Calls Pakistan Terror ‘Mothership’ at Brics Summit
    • India, Russia Seek Deeper Defense Ties Amid Geopolitical Shifts
    • What Is Going to Happen at the Brics Summit in Goa? – The Short Answer
    • This Is How Transparent Indian Companies Are Compared With Emerging-Market Peers
    • How Indian Schools Fared in University Rankings for Emerging Markets

    The Brics acronym and concept that the world was witnessing the birth of a new type of leading economy was so popular that it spawned mutual funds and an institution which had its first summit in 2009.

    But recently most members have been struggling.

    China’s growth has slowed , Russia has been battered by Western sanctions and South Africa is riven with political scandals that are hitting the strength of the currency .

    Brics is one of the many acronyms and country groupings invented by bankers and consultants to help investors and companies work out where they should be investing.

    BRIC was first coined by Goldman Sachs’s Jim O’Neill in 2001. (South Africa became associated with it later.) The investment bank closed its BRIC fund in 2011 , and made it into a larger emerging-market product.

    Since it looks like Brics nations failed to live up to the hype, here are some alternative nicknames for clusters of countries bankers suggest we watch out for.

    Name: The Next 11
    Countries: Bangladesh, Egypt, Indonesia, Iran, South Korea, Mexico, Nigeria, Pakistan, the Philippines, Turkey and Vietnam.
    Goldman Sachs came up with this one too, in 2005. According to an investment brochure from 2013 said the bank expected the countries to add $4 trillion to global GDP in 10 years.

    Name: CIVETS
    Countries: Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa
    HSBC Global Asset Management launched a fund targeting these countries in 2011, after the term was coined by the Economist Intelligence Unit in 2009 . These were defined a countries with young populations and potential future growth.

    Name: EAGLES
    Countries: China, India, Brazil, Indonesia, South Korea, Russia, Mexico, Egypt, Taiwan and Turkey
    Perhaps overwhelmed by the number of acronyms, BBVA Research created EAGLES to cover a large basket of emerging markets. The term stands for Emerging and Growth-Leading Economies and a paper from the group said in 2010 were the countries they believed deserved closer investor attention.

    Name: MINT
    Countries: Mexico, Indonesia, Nigeria, Turkey
    Jim O’Neill in 2013 pointed out that a new term was being used for emerging economies to watch.

    Name: TIMPs
    Country: Turkey, Indonesia, Mexico and the Philippines
    This one was invented by Turner Investments. In a report entitled “ Look out BRICS, here come the TIMPs, ” Bob Turner, chairman said in 2013 that these nations could be the new Brics.

    Name: MIST
    Countries: Mexico, Indonesia, South Korea, Turkey
    This is another invention credited to Mr. O’Neill. These countries were put on the watch list as some of the world’s fastest-growing economies.

    Name: The Fragile Five
    Countries: Brazil, India, Indonesia, South Africa and Turkey
    Not an acronym, but useful nonetheless. These are the countries Morgan Stanley warned could be hurt most as money is yanked out of emerging markets.


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    • Emerging Markets
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