Blog
Time for the EAGLES to fly?
15th November 2010
Jim O’Neill at Goldman Sachs has been able to dine out for many years with his BRICs acronym - a tag for the emergence of four critically important economies in the global economic system. But is there a new acronym on the block?
Economists at the Spanish bank BBVA have just published new research on a cluster of countries dubbed collectively as the EAGLES – each is an Emerging And Growth-Leading Economy, defined by its growth of GDP (incremental growth) rather than absolute size. This indicator is chosen in part because incremental demand is more relevant for new business opportunities including FDI flows.
The founding 10 are China, India, Brazil, Korea, Indonesia, Russia, Mexico, Turkey, Egypt and Taiwan.
According to the BBVA team, “This group will include any country which will contribute more to global GDP growth than the average of the largest developed economies during the next ten years…..”
And nestled in there too is EAGLE’s nest, which included fledglings that might soon grow up to soar – Nigeria, Poland, South Africa, Thailand, Colombia, Vietnam, Bangladesh, Malaysia, Argentina, Peru and the Philippines.
Download their report here
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.