The Growth Map
Economic Opportunity in the BRICs and Beyond
By: Jim O'Neill
Published: December 8, 2011
Format: Hardcover, 256 pages
ISBN-10: 1591844819
ISBN-13: 978-1591844815
Publisher: Portfolio/Penguin
"The ascent and continued success of Brazil, Russia, India and China as surprised many - myself included. it is a phenomenon that has begun to transform the lives of millions of people in these nations, lifting them out of poverty and revolutionizing their ambitions, and it is increasingly touching us all", writes Chairman of Goldman Sachs Asset Management, Jim O'Neill in his perceptive and visionary book The Growth Map: Economic Opportunity in the BRICs and Beyond. The author describes how the tremendous growth of what he coined the BRIC countries - Brazil, Russia, India, and China - are continuing to grow and exceed all expectations. Along with these growing economic powerhouses, the author provide a list of eleven other countries that he calls the Next Eleven, which will offer exciting opportunities for investors over the next decade.
Jim O'Neill understands that the BRIC nations are the most important success story in in the globalized economy. Their incredible rates of economic growth have both amazed and frightened leaders of the more established Western G20 countries. The author makes the bold forecast that the economies of the of the four BRIC nations will overtake the largest Western economies within forty years. Jim O'Neill shares his personal story of how the BRIC juggernaut began, evolved, and continues to roll along after an explosive decade of growth. Along with his incisive analysis of the BRIC economies, Jim O'Neill provides analysis of the potential of eleven other growth economies that he calls the Next Eleven.
Jim O'Neill (photo left) points out that these new engine of growth may not appear as impressive as the four BRIC economies, but they possess real potential to break out with exciting growth opportunities within the next decade. The author describes the ability of the New Eleven to achieve high rates of growth based on what he calls their willingness to play. That concept rests on the desire and openness of the eleven to enact policies that encourage economic growth and prosperity; as well as their willingness to engage and participate in the overall global economy. At the same time, Jim O'Neill provides insights into how the established G20 countries must better incorporate the growth potential of both the BRIC nations and the Next Eleven into their own economic future plans.
Jim O'Neill recognizes how the past decade, and the 2008 financial crisis, were very tumultuous times for the global economy. Instead of fearing crisis, however, Jim O'Neill offers the alternative view that times of crisis create fresh opportunities for investors of all types and sizes. For Jim O'Neill, globalization is an opportunity to be embraced, and not feared. More economic growth creates more jobs, new wealth, and more overall prosperity across the globe. The author believes that the economic problems of recent years are ones that can and will be fixed, creating an even more robust and prosperous global economy. The addition of the New Eleven countries - Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, Philippines, South Korea, Turkey, and Vietnam - to the growing world economy will only increase the amount of global trade and economic opportunity.
For me, the power of the book is how Jim O'Neill provides a clear eyed analysis of the current and future global economies. The author combines a real world based assessment of the the emergence and growth of the BRIC nations, including an examination of their ability to sustain their rapid expansion into the future. Jom O'Neill also considers the current and potential challenges facing the BRICs including the need for ever increasing levels of scarce resources. While the BRIC economies have many observers skeptical of their ability to sustain their growth and acquire the necessary natural resources. Jim O'Neill considers these obstacles as ones that can and will be overcome.
Jim O'Neill also examines the growth potential of the New Eleven countries. While most are smaller then the BRIC economies, the N-11 do have the potential to be important players and investment opportunities in their own right. Jim O'Neill outlines the potential for investors in both the BRIC and N-11 countries and considers them to have tremendous investment and growth potential for the future. The author even provides the economic plan that he believes will add to their already considerable economic success in a globalized market.
I highly recommend the important and must read book The Growth Map: Economic Opportunity in the BRICs and Beyond by Jim O'Neill,to anyone who is serious about understanding the growth and importance of the BRIC and N-11 economies. This book will guide investors, corporations, entrepreneurs, and policy makers in their decision making process as the current global crisis is creating unlimited investment opportunity.
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