The Growth Map: Economic Opportunity in the BRICs and Beyond

by Jim O'neill

Overview

In 2001, Jim O'Neill predicted the fastest growing economies of the past decade. Now he's back to explore the new growth markets we should all be watching closely today.

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)

Product Details

ISBN-13:	9781591844815
Publisher:	Penguin Publishing Group
Publication date:	12/08/2011
Pages:	256
Product dimensions:	6.24(w) x 9.22(h) x 0.94(d)
Age Range:	18 Years

About the Author

Jim O'Neill is the chairman of Goldman Sachs Asset Management. Before that he was the firm's head of Global Economics, Commodities and Strategy Research. He created the "BRIC" term in 2001. He is the chairman of the charity SHINE. He lives in London.

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

Acknowledgments 233

Notes 237

Index 241

What People are Saying About This

Montek Singh Ahluwalia

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)

Gillian Tett

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, U.S. managing editor, Financial Times)

Arkady Dvorkovich

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)

Arminio Fraga

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)

Lloyd Blankfein

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)

From the Publisher

“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

Martin Sorrell

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)

Michael Spence

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)

Editorial Reviews

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

From the Publisher