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Is MINT the New BRICS?

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Economist Jim O'Neill, who coined the acronym BRIC in 2001 for the grouping of the economies of Brazil, Russia, India, and China (South Africa was added to the group in 2010 and the acronym changed to BRICS), is now touting MINT after the four emerging economies he believes could be in the world's top ten economies in the coming decades.

MINT stands for Mexico, Indonesia, Nigeria and Turkey, and Mr. O'Neill states several factors that lead him to believe these countries' economies will grow tremendously and be ripe with opportunities. These factors include, a young population with a growing middle class, rapidly advancing infrastructure, fast expanding financial, service, and communications sectors, and low-cost labor.

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