Rise of the MINT Economies?

by Developed Africa 9. January 2014 09:00

More than 10 years since the rise of the BRIC countries was predicted, we hear claims of the up and coming MINTs.

The MINT countries are made up Mexico, Indonesia, Nigeria, and Turkey; and are being 

Yet they will never live up to the BRICs, he says, which will always remain much larger. In two years China alone creates more new wealth than the entire MINT gross domestic product combined."

O'Neill himself, the man who spotted both of these groupings, has said that they are not going to reach the heights of the BRICs. Despite this, they are still going to be strong names in economics that are ones to watch. 

But it appears that there is a lot less confidence in the MINTs, for instance, a number of articles are asking whether or not they can actually make 'you' money, or if they are just going to grow a little. As a Forbes article writes:

it is worth noting that BRIC equities have lagged the developed world for several years now and are very likely to do so again in 2014"

So it is clear that there are mixed views over the validity of claiming the MINT countries as a new phenomenon, especially when a number from the past group are not doing so well. However, there is a lot of optimism when looking at them a number of them individually, Nigeria especially. 

Nigeria looks set to be Africa's next big economy as it is about to:

undergo a GDP re-basing- a reassessment of the country's GDP- and when that happens, it may well prove to be the biggest economy in Africa, even bigger than South Africa"

Mexico also seems to be a hot spot for investors, but there is doubt cast on the validity of Indonesia and Turkey's inclusion in the group. Even the O'Neill has said:

So can the Mints join the top 10 largest economies in the world, after the US, China, the rest of the BRICS and maybe Japan? I think so, though it may take 30 years."

Perhaps not such a groundbreaking prediction after all. 


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