Which group of conutries identified by Goldman Sachs as the next fastest growing economiesalso includes the four countries known as MINT?
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MINT (economics) MINT is an acronym referring to the economies of Mexico, Indonesia, Nigeria, and Turkey. The term was originally coined by Fidelity Investments, a Boston-based asset management firm, and was popularized by Jim O'Neill of Goldman Sachs, who had created the term BRIC. The term is primarily used in the economic and financial spheres as well as in academia. Its usage has grown specially in the investment sector, where it is used to refer to the bonds issued by these governments. These four countries are also part of the "Next Eleven".
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Next Eleven The Next Eleven (known also by the numeronym N-11) are the eleven countries – Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, the Philippines, Turkey, South Korea and Vietnam – identified by Goldman Sachs investment banker and economist Jim O'Neill in a research paper as having a high potential of becoming, along with the BRICS countries, among the world's largest economies in the 21st century. The bank chose these states, all with promising outlooks for investment and future growth, on December 12, 2005. Next Eleven countries have an area of 10 million sq. kilometers while having a population of 1.36 billion. Combined nominal GDP of these countries is 6.38 trillion dollars. In terms of purchasing power parity (PPP), their GDP reached 14.9 trillion dollars.
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Pacific Alliance The Pacific Alliance (Spanish: "Alianza del Pacífico" ) is a Latin American trade bloc, with some features of further integration. It currently has four member states — Chile, Colombia, Mexico and Peru, which all border the Pacific Ocean.
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Periphery countries In world systems theory, the periphery countries (sometimes referred to as just the periphery) are those that are less developed than the semi-periphery and core countries. These countries usually receive a disproportionately small share of global wealth. They have weak state institutions and are dependent on – according to some, exploited by – more developed countries. These countries are usually behind because of obstacles such as lack of technology, unstable government, and poor education and health systems. In some instances, the exploitation of periphery countries' agriculture, cheap labor, and natural resources aid core countries in remaining dominant. This is best described by dependency theory, which is one theory on how globalization can affect the world and the countries in it. It is, however, possible for periphery countries to rise out of their status and move into semi-periphery or core status. This can be done by doing things such as industrializing, stabilizing the government and political climate, etc.
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Commodity currency A commodity currency is a name given to currencies of countries which depend heavily on the export of certain raw materials for income. These countries are typically developing countries, e.g. countries like Burundi, Tanzania, Papua New Guinea; but also include developed countries like Canada and Australia.
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Economy of Indonesia Indonesia has the largest economy in Southeast Asia and is one of the emerging market economies of the world. The country is also a member of G-20 major economies and classified as a newly industrialised country. It is the sixteenth largest economy in the world by nominal GDP and is the seventh largest in terms of GDP (PPP). Its GDP per capita however ranks below the world average. Indonesia still depends on domestic market, and government budget spending and its ownership of state-owned enterprises (the central government owns 141 enterprises) and the administration of prices of a range of basic goods including, rice, and electricity plays a significant role in Indonesia market economy, but since the 1990s, the majority of the economy has been controlled by private Indonesians and foreign companies.
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Currencies of the European Union There are eleven currencies of the European Union as of 2015 , the principal currency being the Euro. The Euro is used by the institutions of the European Union and by the Eurozone states, which account for 19 of the 28 member states of the European Union. All but two states are obliged to adopt the currency; Denmark and the United Kingdom, through a legal opt-out from the EU treaties, have retained the right to operate independent currencies within the European Union. The remaining eight states must join the ERM II and attain the third stage and adopt the Euro eventually.
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Internationalization of the renminbi Since the late-2000s, the People's Republic of China (PRC) has sought to internationalize its official currency, the Renminbi (RMB). The RMB Internationalization accelerated in 2009 when China established dim sum bond market and expanded Cross-Border Trade RMB Settlement Pilot Project, which helps establish pools of offshore RMB liquidity. In 2013, the RMB was the 8th most traded currency in the world and the 7th most traded in early 2014. By the end of 2014, RMB has ranked 5th as the most traded currency, according to SWIFT's report, at 2.2% of SWIFT payment behind JPY (2.7%), GBP (7.9%), EUR (28.3%) and USD (44.6%). In February next year, RMB became the second most used currency for trade and services, and reach the ninth position in forex trading. The RMB Qualified Foreign Institutional Investor (RQFII) quotas were also extended to other five countries - the UK (extended 15 October 2013), Singapore (22 October 2013), France (20 June 2014), Korea (18 July 2014), Germany (18 July 2014), and Canada (8 November 2014), each with the quotas of ¥80bn except Canada and Singapore (¥50bn). Previously, only Hong Kong was allowed, with a ¥270bn quota. The launch of Shanghai-Hong Kong Stock Connect (SSE and HKEx) in November 2014, embarked China into the next stage of internationalization. In January 2015 Chinese Premier, Li Keqiang, announced a planned second Stock Connect linking Shenzhen and Hong Kong exchanges. The China's RMB internationalization and foreign exchange (FX) reforms are evolving rapidly and full convertibility is expected over the next couple of years. In 2014, Hong Kong removed the conversion limit of 20,000 RMB per day for its residents.
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ALBA ALBA or ALBA-TCP, formally the Bolivarian Alliance for the Peoples of Our America (Spanish: "Alianza Bolivariana para los Pueblos de Nuestra América" ) or the Bolivarian Alliance for the Peoples of Our America - Peoples’ Trade Treaty (Spanish: "Alianza Bolivariana para los Pueblos de Nuestra América - Tratado de Comercio de los Pueblos" ), is an intergovernmental organization based on the idea of the social, political and economic integration of the countries of Latin America and the Caribbean. The name "Bolivarian" refers to the ideology of Simón Bolívar, the 19th-century South American independence leader born in Caracas who wanted Hispanic America to unite as a single "Great Nation." Founded initially by Cuba and Venezuela in 2004, it is associated with socialist and social democratic governments wishing to consolidate regional economic integration based on a vision of social welfare, bartering and mutual economic aid. The eleven member countries are Antigua and Barbuda, Bolivia, Cuba, Dominica, Ecuador, Grenada, Nicaragua, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines and Venezuela. Suriname was admitted to ALBA as a guest country at a February 2012 summit. ALBA nations may conduct trade using a virtual regional currency known as the SUCRE. Venezuela and Ecuador made the first bilateral trade deal using the Sucre, instead of the US dollar, on July 6, 2010.
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Mintel Mintel Group Ltd is a privately owned, London-based market research firm. The corporation also maintains offices in Chicago, New York City, Mumbai, Belfast, Shanghai, Tokyo and Sydney. Mintel databases, analysis, and forecasts are accessible only to subscribing clients and to students in participating university libraries.
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Frontier markets A frontier market is a type of developing country which is more developed than the least developing countries, but too small to be generally considered an emerging market. The term is an economic term which was coined by International Finance Corporation’s Farida Khambata in 1992. The term is commonly used to describe the equity markets of the smaller and less accessible, but still "investable", countries of the developing world. The frontier, or pre-emerging equity markets are typically pursued by investors seeking high, long-run return potential as well as low correlations with other markets. Some frontier market countries were emerging markets in the past, but have regressed to frontier status.
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Emerging power An emerging power or rising power is a term used as recognition of the rising, primarily economic, influence of a nation—or union of nations—which has steadily increased their presence in global affairs. Such a power aspires to have a more powerful position or role in international relations, either regionally or globally, and possess sufficient resources and levels of development that such goals are potentially achievable. A term also used to describe such a state is "rising power".
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List of BRICS summit attendees This is a list of representative leaders of BRICS states at each BRICS Summit since the group's inception in 2009. The group consists of the five countries, Brazil, Russia, India, China and South Africa. BRICS holds an annual summit, which each state or government leader attends. Each year the heads of government take turns assuming the presidency, whose job it is to set the agenda for, and host, the annual summit.
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Minor International Minor International (MINT) is one of the largest hospitality and leisure companies in the Asia Pacific Region, operating over 140 hotels and resorts, 1,800 restaurants, and 307 retail trading outlets in Thailand and in 32 markets from Africa to Australia, including South America and Europe. Based in Bangkok, Thailand, it operates hotels under the Anantara, AVANI, PER AQUUM, Oaks, Tivoli, Elewana Collection, Four Seasons, St. Regis, JW Marriott, Marriott, and Radisson Blu brands, owns The Pizza Company, Thai Express, and Riverside Restaurant franchises, and operates restaurants under the Swensen's, Sizzler, Dairy Queen, Burger King, and The Coffee Club brands in Thailand and other countries.
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Gas Exporting Countries Forum The Gas Exporting Countries Forum (GECF) is an intergovernmental organization of 24 member states that 11 of the world's leading natural gas producers made up of Algeria, Bahrain, Belarus, Benin, Bolivia, Botswana, Brazil, Brunei Darussalam, Egypt, Equatorial Guinea, Indonesia, Iran, Kazakhstan Libya, Myanmar, Nigeria, Norway Peru, Qatar, Russia, Trinidad and Tobago Turkmenistan, United Arab Emirates, and Venezuela. GECF members together control over 70% of the world's natural gas reserves, 38% of the pipeline trade and 85% of the liquefied natural gas (LNG) production. The three largest reserve-holders in the GECFRussia, Iran and Qatartogether hold about 57% of global gas reserves.
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MMM (Ponzi scheme company) МММ was a Russian company that perpetrated one of the world's largest Ponzi schemes of all time, in the 1990s.<ref name="RFE/RL"> </ref> By different estimates from 5 to 40 million people lost up to $10 billion. The exact figures are not known even to the founders. In 2011, MMM re-opened as "MMM Global" with subsidiaries in up to 110 countries; it became widely popular in various African countries like  South Africa,  Nigeria,  Zimbabwe,  Kenya  and Ghana with some attributing this popularity to poverty and poor government regulation or law enforcement.
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Guinea Guinea ( ), officially the Republic of Guinea (French: "République de Guinée" ), is a country on the western coast of Africa. Formerly known as French Guinea (French: "Guinée française" ), the modern country is sometimes referred to as Guinea-Conakry in order to distinguish it from other parts of the wider region of the same name, such as Guinea-Bissau and Equatorial Guinea. Guinea has a population of /1e6 round 1 million and an area of 245,860 km2 .
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Japanese Big Four The Japanese Big Four are the large motorcycle manufacturing companies of Japan: Honda, Kawasaki, Suzuki, and Yamaha.
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The Wall Street Journal Asia The Wall Street Journal Asia, a version of "The Wall Street Journal", provides news and analysis of global business developments for an Asian audience. Formerly known as "The Asian Wall Street Journal", it was founded in 1976 and is printed in nine Asian cities: Bangkok, Hong Kong, Jakarta, Kuala Lumpur, Manila, Seoul, Singapore, Taipei, and Tokyo. Average circulation for 2011 was 83,421. Its largest markets in order of importance are: Hong Kong, Singapore, the Philippines, Japan, Thailand, South Korea, Indonesia, Taiwan, Malaysia, China, India and Vietnam.
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Core countries In world systems theory, the core countries are the industrialized capitalist countries on which periphery countries and semi-periphery countries depend. Core countries control and benefit from the global market. They are usually recognized as wealthy nations with a wide variety of resources and are in a favorable location compared to other states. They have strong state institutions, a powerful military and powerful global political alliances.
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Visegrád Group The Visegrad Group, also called the Visegrad Four, or V4 is a cultural and political alliance of four Central European statesthe Czech Republic, Hungary, Poland and Slovakiafor the purposes of furthering their European integration, as well as for advancing military, economic and energy cooperation with one another. The group used to be occasionally referred to as the Visegrád Triangle, due to the fact that it was originally an alliance of three states – the term has not been valid since 1993, but does continue to appear sometimes.
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Early 2000s recession The early 2000s recession was a decline in economic activity which mainly occurred in developed countries. The recession affected the European Union during 2000 and 2001 and the United States in 2002 and 2003. The UK, Canada and Australia avoided the recession, while Russia, a nation that did not experience prosperity during the 1990s, in fact began to recover from said situation. Japan's 1990s recession continued. This recession was predicted by economists, because the boom of the 1990s (accompanied by both low inflation and low unemployment) slowed in some parts of East Asia during the 1997 Asian financial crisis. The recession in industrialized countries wasn't as significant as either of the two previous worldwide recessions. Some economists in the United States object to characterizing it as a recession since there were no two consecutive quarters of negative growth.