First, there's the BRIC economies which are flourishing these days. The BRIC stands for Brazil, India, Russia, & China. China is the world's second largest economy, as it overtook Japan for that title recently. India is home to the world's largest democracy, and the 2nd most populous country after China. Russia is home to Medvedev, Putin and a mix of capitalism plus independence from the E.U. (European Union). It will be a surprise if the Russians ever join the European Union. Why join when the 12th largest economy (Russia) is becoming a free market system filled with billionaires (a la Mikhail Prokhorov, Owner of the N.J. Nets). Finally, Brazil is the eighth largest economy and it is possibly the most powerful in South America. The country could boast one of the top five economies in the world in decades to come.
In addition to the BRIC, there is a new batch of emerging economies. The new list includes Colombia, Indonesia, Vietnam, Egypt, Turkey, and South Africa (CIVETS). This sextet is known for having both diverse economies, and a growing population to support it. Why should Americans care about these countries? Because sovereign wealth funds ((U.A.E., Qatar, Oman, Singapore, etc.) are investing in these countries, as opposed to the traditional names.
Lastly, can the discussion of CIVETS and BRIC be discussed in a bar
(or nightclub)? Surely, there must be something better to discuss on a friday or saturday night. Not if you are RSG or Danielle G.! This past saturday, Hollywood G. discussed these terms and other business journalism acronyms with a friendly, dapper woman. Heck, the highly intelligent woman even thought RSG was in the wrong field. It was quite the compliment. Maybe if the I.T. world is too technical for me, then business journalism may be the right calling. 'Til then, I will keep supporting business software for customers in global markets as one of my careers.
