The Growth Map: Economic Opportunity in the BRICs and Beyond

The Growth Map: Economic Opportunity in the BRICs and Beyond

by Jim O'neill

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The Growth Map: Economic Opportunity in the Brics and Beyond 3.7 out of 5 based on 0 ratings. 3 reviews.
sergevansteenkiste More than 1 year ago
Jim O¿Neill first reminds his audience how he selected the original four developing economies which are widely known under the acronym BRIC, i.e., Brazil, Russia, India, and China. In the Chapter ¿BRIC by BRIC,¿ Mr. O¿Neill gives a nice summary of the key milestones that each of the four economies has achieved since he coined the acronym in 2001. To his credit, the author usually does not hesitate to deal with the shortcomings which still afflict each of these economies, despite their numerous achievements. In the coming decades, the BRICs are expected to continue to make waves in the cultural, economic, financial, and socio-political spheres due to their (favorable) demographics and increased productivity. More interestingly, Mr. O¿Neill articulates clearly how and why he identifies economies such as Indonesia, South Korea, Mexico, and Turkey among the N-11, i.e., the ¿Next Eleven¿ countries. These countries represent the next waves on which multinationals and investors should also ride for their benefit. Mr. O¿Neill invites the developed nations, most of which are struggling, to seize the opportunity that the current global credit crisis offers them, not only to reform themselves for the better, but also to further increase their exports to the BRICs and N-11. Mr. O¿Neill repeatedly draws the attention of his audience to the fact that the Germans have been very good at seizing the opportunities that the deepening globalization offers them. The author¿s graph about German exports since 2007 is illuminating on this subject. Due to this evolving landscape, Mr. O¿Neill calls for the reformation of international institutions such as the International Monetary Fund, the World Bank, the G20, or the United Nations to reflect the changing pecking order of the most powerful nations on earth. Furthermore, Mr. O¿Neill pleads for the further liberalization of financial markets around the world to further facilitate trade and to give investors, savers more choices. The author will probably run into some walls on this subject. The North Atlantic credit crisis, as some people outside the West call the ongoing global credit crisis, will not be forgotten anytime soon. Mr. O¿Neill is at his weakest when he deals with the plight of the ¿losers¿ that international trade generates, especially during the most challenging times of rapid adjustments. In summary, Mr. O¿Neill gives his audience a well-articulated road map to capitalize on the opportunities that the evolving global economy offers to whoever is flexible enough to change with the circumstances of the day.
Vikereader More than 1 year ago
While Jim is definitely one of the privileged insiders of the financial world cloistered and bathed in Goldman Sachs wealth he brings an optimistic understanding of this arcane world to the masses in a conversational style that can easily be read in one sitting. That understanding is necessary to be an informed voter or a good leader. This century more than most is fraught with the potential for global calamity. Perhaps if we listen to Jim we can at least avoid the financial ones. I highly recommend the book! PS thanks to bn for fixing my nook on iPad
Anonymous More than 1 year ago
If you want to read over and over again that China is best in every way, this book is for you. The book does not even touch on some of the problems with globalization, for example the US trade imbalance and the resulting lack of jobs for a big segment of our population.