It's been ten years since Jim O'Neill conceived of the BRIC acronym. He and his team made a startling prediction: Four developing nations- Brazil, Russia, India, and China (the BRICs)-would overtake the six largest Western economies within forty years. The BRIC analysis permanently changed the world of global investing, and its accuracy has stood the test of time.
The Growth Map features O'Neill's personal account of the BRIC phenomenon, how it has evolved, and where those four key nations currently stand after a turbulent decade. And the book also offers an equally bold prediction about the "Next Eleven" countries: Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, Philippines, South Korea, Turkey, and Vietnam. These developing nations may not seem exceptional today, but they offer exciting opportunities for investors over the next decade, just as BRIC did before them.
O'Neill also shares several compelling insights about the world economy. He reveals the value for growing countries in being "willing to play" by meaningfully committing to policies that encourage further growth and engagement with globalization. He explains how the g20 can adjust to better incorporate the BRICs and to better reflect the balance of the global economy.
Finally, O'Neill makes the counterintuitive claim that good things can quite often come from crises. While established economic powers may see the rise of the BRICs as a threat, international trade benefits us all over the long term. Likewise, the recent financial crisis revealed deep problems in our economic systems, problems we now have the opportunity to fix.
A work of astute and absorbing analysis, The Growth Map is an indispensable guide for every investor and every participant in the global economy. Anyone who wants to understand the developing world would do well to heed the man called "one of the most sought-after economic commentators on the planet." (The Telegraph)
|Publisher:||Penguin Publishing Group|
|Sold by:||Penguin Group|
|File size:||395 KB|
|Age Range:||18 Years|
About the Author
Table of Contents
Introduction: Audacious Growth 1
1 The Birth of The BRICs 11
2 From Emerging to Emerged 25
3 BRIC By BRIC 45
4 The New Growth arkets 97
5 Are There enough Resources? 117
6 Consumption 129
7 New Allies Ahead 145
8 A New World Order 169
9 Invest And Prosper 193
Conclusion: A Better World 221
What People are Saying About This
This book should be compulsory reading for all those interested in the world economy. (Montek Singh Ahluwalia, economist and deputy chairman of the Planning Commission of the Republic of India)
When Jim O'Neill first coined 'BRIC' he redefined how investors and Western business leaders see the world. Economic students, policymakers, diplomats, investors, and business leaders should all read this booknot least because the rise of the BRICs is already turning so many Western assumptions upside down and will reshape the globe for decades to come. (Gillian Tett, U.S. managing editor, Financial Times)
Jim O'Neill's theory about the BRICs has become a reality. His new book makes it clear that growth markets will grow to the benefit of all whatever the skeptics think. (Arkady Dvorkovich, adviser to Russian president Dmitri Medvedev)
If you want to learn how emerging markets are going to develop in the coming years, you don't have to wait for some future historian; just read this wonderful book by Jim O'Neill! (Arminio Fraga, economist and former president, Central Bank of Brazil)
In four letters, Jim O'Neill identified one of the most consequential themes of the twenty first century. Jim has changed how the world thinks about economic growthand how the BRICs think about themselves. (Lloyd Blankfein, chairman and CEO, Goldman Sachs)
“When Jim O’Neill first coined ‘BRIC’ he redefined how investors and Western business leaders see the world. Economic students, policymakers, diplomats, investors, and business leaders should all read this book—not least because the rise of the BRICs is already turning so many Western assumptions upside down and will reshape the globe for decades to come.”
—GILLIAN TETT, US MANAGING EDITOR, FINANCIAL TIMES
“A brilliant and insightful analysis of the dynamic forces that are changing our world and the lives of millions of people. Jim O’Neill has done more than anyone to illuminate the growth of the developing world and the shifting landscape of the global economy.”
—MICHAEL SPENCE, RECIPEINT OF THE NOBEL MEMORIAL PRIZE IN ECONOMICS IN 2001
“This book should be compulsory reading for all those interested in the world economy.”
—MONTEK SINGH AHLUWALIA, ECONOMIST AND DEPUTY CHAIRMAN OF THE PLANNING COMMISSION OF THE REPUBLIC OF INDIA
“Jim O’Neill challenges the lazy consensus and convinces us that the great swing to the East should be welcomed rather than resented by an anxious West. There’s no empty optimism here; just measured, reasoned grounds for hope.”
—SIR MARTIN SORRELL, CEO, WPP
“If you want to learn how emerging markets are going to develop in the coming years, you don’t have to wait for some future historian; just read this wonderful book by Jim O’Neill!”
—ARMINO FRAGA, ECONOMIST AND FORMER PRESIDENT, CENTRAL BANK OF BRAZIL
“Jim O’Neill’s theory about the BRICs has become a reality. His new book makes it clear that growth markets will grow to the benefit of all whatever the skeptics think.”
—ARKADY DVORKOVICH, ADVISER TO RUSSIAN PRESIDENT DMITRY MEDVEDEV
“In four letters, Jim O’Neill identified one of the most consequential themes of the twenty-first century. Jim has changed how the world thinks about economic growth—and how the BRICs think about themselves.”
—LLOYD BLANKFEIN, CHAIRMAN AND CEO, GOLDMAN SACHS
Jim O'Neill challenges the lazy consensus and convinces us that the great swing to the East should be welcomed rather than resented by an anxious West. There's no empty optimism here; just measured, reasoned grounds for hope. (Sir Martin Sorrell, CEO, WPP)
A brilliant and insightful analysis of the dynamic forces that are changing our world and the lives of millions of people. Jim O'Neill has done more than anyone to illuminate the growth of the developing world and the shifting landscape of the global economy. (Michael Spence, recipient of the Nobel Memorial Prize in Economics in 2001)
Most Helpful Customer Reviews
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.
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
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.