TIMBI
TIMBI is an acronym for five countries projected to be leading emerging economies, Turkey, India, Mexico, Brazil, and Indonesia, in the next half century. They are seen as such due to having large populations, positive population growth rates, having dynamic and diverse economies, and being democracies with creative and intuitive populaces.
The term and grouping was devised by Jack A. Goldstone in February 2011 as a replacement for the BRIC concept which following recent reports stating that Russia's and China's (the R and C in BRIC) growth would not be as strong as expected. Their unfavorable demographic patterns, shrinking workforces, and decrease in exports are all expected to harm their future growth.
Turkey
Turkey's economy grew 10.3% last year, faster than China, and was the third fastest growing economy in the world. Economic growth came mainly from construction, rather than exports like China and Russia. Construction alone makes up 6% of the Turkish economy, but if one counts the various industries related to construction (Steel, Timber, energy used and purchased) construction and the related industries made up some 30% of the economy. Turkey also has a very large domestic consumption base, and some 3 major auto companies.
India
Mexico
Due to Mexico's rapidly advancing infrastructure, increasing middle class and rapidly declining poverty rates it is expected to have a higher GDP per capita than all but three European countries by 2050, this new found local wealth also contributes to the nation's economy by creating a large domestic consumer market which in turn creates more jobs.
Brazil
The Federative Republic of Brazil is considered by a number of analysts and academics a major economy of the 21st century.
Indonesia
Indonesia is the world's fourth most populous country after China, India, and the USA and the world's third most populous democratic country after India and the USA. In 2009, BRIC and Indonesia represented about 42 and 3 percent of the world's population respectively and about 15 percent of global GDP altogether. All of them are G20 countries. By 2015, Internet users in BRIC and Indonesia will double to 1.2 billion.[2][3] At 2009, Indonesia was the only member of the G20 to lower its public debt-to-GDP ratio: a positive economic management indicator.[4]
October 2010: Wealth has surged in emerging markets in Asia Pacific, especially India and Indonesia. In the last ten years, the total wealth of India has tripled to $3.5 trillion while that of Indonesia has grown fivefold to $1.8 trillion. The inaugural report by the Credit Suisse Research Institute defines wealth as the value of financial assets and non-financial assets (mainly real estate), minus household debt.[5]
See also
References
External links