Blog: Are MINTs the new BRICs?
James Wilmore | 7 January 2014
Move over the BRICs, the MINTs are here to freshen things up.
Yes, we have a fresh batch of countries that are set to emerge as powerhouses of the world economy, if they continue their current trajectory. Jim O'Neill, the economist who coined the acronym BRICs (Brazil, Russia, India and China), has come up with a new one: the MINTs - that's Mexico, Indonesia, Nigeria and Turkey.
The reason these countries are being talked up, O'Neill says, is because for at least the next 20 years they have good "inner demographics" - which means they'll see an increase in the number of people eligible to work, relative to those not working.
"If Mexico, Indonesia, Nigeria and Turkey get their act together, some of them could match Chinese-style double-digit rates between 2003 and 2008," says O'Neill, writing for the BBC.
Based on Goldman Sachs figures, Nigeria is set to see the biggest lift in GDP, rising from its current position of 39 to 13 by 2050.
Drinks firms are no doubt already on top of these trends. Anheuser-Busch InBev's takeover of Mexico's Grupo Modelo is the obvious example. But Turkey, for example, is far from an easier place for alcohol producers to operate at the moment after a regulatory clampdown last year.
For drinks producers, some of the MINTs may not be as fresh tasting, compared to other industries, for some time yet.
UK-based readers can listen to a BBC Radio 4 series on the MINTs here
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