The BRIC countries (Brazil, Russia,India and China) have been the dynamos of the world economy for the past few years. Now, the man who coined the term, Jim Oil of Goldman Sachs Asset Management, is pushing a new catch the phrase to draw attention to what he calls the newest crop of economic boomers. The NEXT11, as he terms it, includes Indonesia, Turkey, Korea, Mexico, Bangladesh, Egypt, Iran, Nigeria, Pakistan, Philippines and Vietnam. They’re all followed by Poland, says Oil, which has been out in front of the CEE region for some time now. “The outlook for growth is very positive for CEE, with its GES index surpassing the BRIC countries”, said Oil adding. If the trend continue, CEE’s share in the global GDP could surpass that of Japan, he adds.
