The Great Debate UK
from Davos Notebook:
Jim O'Neill, the Goldman Sachs economist who coined the term BRICs back in 2001, is adding four new countries to the elite club of emerging market economies. But does his new edifice have the same solid foundations?
In future, the BRIC economies of Brazil, Russia, China and India will be merged with those of Mexico, Indonesia, Turkey and South Korea under the banner “growth markets,” O'Neill told the Financial Times.
Hmmm. Doesn't quite grab you like BRICs, does it? The Guardian helpfully offers an amended branding banner of "Bric 'n Mitsk" (geddit?). But which ever way you cut it, it's hard to see a flood of investment conferences and funds floating off under the new moniker.
Ten years ago, Goldman had this field to itself. Now more and more acronyms are being bandied around by banks seeking to pique investors' appetite for higher returns.
from The Great Debate:
- Bernd Debusmann is a Reuters columnist. The opinions expressed are his own -
Woe betide the organization or individual who lands on America's terrorist list. The consequences are dire and it's easier to get on the list than off it even if you turn to peaceful politics. Just ask Nelson Mandela.
One of the great statesmen of our time, Mandela stayed on the American terrorist blacklist for 15 years after winning the Nobel Prize prior to becoming South Africa's first post-Apartheid president. He was removed from the list after then president George W. Bush signed into law a bill that took the label "terrorist" off members of the African National Congress (ANC), the group that used sabotage, bombings and armed attacks against the white minority regime.
from The Great Debate:
-- Kevin P. Gallagher is professor of international relations at Boston University and co-author of “The Enclave Economy: Foreign Investment and Sustainable Development in Mexico’s Silicon Valley” and “Putting Development First: The Importance of Policy Space at the WTO." The opinions expressed are his own. --
On the campaign trail, President-elect Barack Obama pledged to rethink U.S. trade policy. The initial nomination of Xavier Becerra as United States Trade Representative was a signal that Obama will work to fulfill that promise. Congressman Becerra declined the offer and former Dallas Mayor Ron Kirk has been chosen to head the office instead. Given Kirk’s enthusiastic support for NAFTA, he will receive close scrutiny as he takes over a USTR that has the mandate of rethinking U.S. trade policy.