Shifting Economic power from G7 to developing world
After successfully introducing the acronym BRIC (Brazil, Russia, India, China, or BRICS including South Africa) in 2001, Jim O’Neill, chairman of Goldman Sachs Asset Management, a company that manages global investment funds, is now introducing a new acronym called MIST (Mexico, Indonesia, South Korea, Turkey).
The MIST countries are the four largest markets in the Goldman Sachs Next 11 Equity Fund. MIST accounts for roughly 73 percent of GDP of last year’s Next 11. The Next 11 includes Bangladesh, Egypt, Nigeria, Pakistan, the Philippines, Vietnam and Iran. Goldman Sachs did not invest funds in Iran because the market is not open to foreign investors……..
Buy Stocks in Indonesia
Paul Christopher, an American broker, has advised investors to sell their stocks in the BRIC during the first half of the year and recommended buying shares in Indonesia because the growth there has surpassed 6 percent. This is considered to be a more attractive opportunity for global investors.
…………..These are good indications that Indonesia will enjoy sustained growth in the coming years, making it a larger player in global economics and, perhaps, politics.