New-wave economies going for growth

As even Brics plateau, other countries, from Bangladesh to Mexico, are coming up fast – and could overtake the west by 2050.

They are big. They have young and growing populations. They have invested in infrastructure and education. And they are growing at the sort of rates that make them the envy of the recession-hobbled west.

No, these are not the famed Brics – the big emerging market economies of which much has been heard since the acronym was first coined by Jim O’Neill of Goldman Sachs more than a decade ago. Rather, they are a second wave of countries – some Asian, some Latin American, some African – coming up fast behind.

As the west remains mired in gloom and even the Brics start to plateau, attention is turning to this group of countries, many of which not so long ago were rudely dismissed as basket cases. Acronyms are hard to coin, as few of them start with a vowel. But when growth rates for 2013 are chalked up, these are the countries that will dominate the top 20. In anticipation, the Guardian is launching a three-day series throwing the spotlight on several of these fast-growing countries.

 

This excerpt was taken from The Guardian. For the full article, please visit here.