The New Breakout Nations – By Ruchir Sharma | Foreign Policy

Are you watching the Philippines, Indonesia, Turkey, Thailand, Poland, Sri Lanka, and Nigeria?  You should.

Today’s global economy is all about moderate, uneven growth, with stars emerging in previously underappreciated nations. Forget about the BRICs — these seven countries are the real breakout nations to watch:

via The New Breakout Nations – By Ruchir Sharma | Foreign Policy.

5 thoughts on “The New Breakout Nations – By Ruchir Sharma | Foreign Policy”

  1. It is always interesting to see how quickly the world economy changes and the potential for growth. With many of the past years focusing on China, and before that Japan, there are many countries that have flown under the radar. The most interesting part of the article to me was the ranking of the Philippines as #1. In the past the Philippines has been used as an example of a country that didn’t make the right reforms and because of it, they fell behind all the other countries that built their economies on exports to the developed world.
    It seems that now the Philippines is making the right changes, and they are doing it at the perfect time. As incomes rise in countries like China, the Philippines can position itself as the new place for western companies’ outsourcing.
    Here is what IMF managing director Christine Lagarde said recently about the Philippines future.

  2. One thing I found really interesting in this article were the leaders in the countries. Just about all the countries had leaders that were willing to take risks and make economic changes. They cared about their nations economies and growth. They were able to make necessary changes to promote growth. It is interesting to see how good leadership can change a country and its economy. I was also interested in learning about why these countries. Each country had a unique aspect whether it was rich in natural resources or geographical location, each country had a unique quality to help it as it makes the economic changes and become a power.
    Here is a link to the world factbook where you can learn more about the individual countries.

  3. As brianmedwards said, leadership is one of the common factors among these countries. What I thought was particularly interesting was the section on Nigeria. It is said of President Goodluck Jonathan, that he is always in the right place at the right time. This could also be said of Nigeria. Under good leadership, if Nigeria can control internal violence, then they’d probably experience a spike in foreign investment and internal stability. This would be good for not just Nigeria, but it would also benefit the surrounding nations.

    Here is a profile on President Jonathan:

  4. As I did further research on Indonesia’s economic growth I found that it has the largest economy in all of Southeast Asia. The economy is market-based, the government owns more than 164 state-owned enterprises, and the government also sets prices for goods (food and power).

    Yet, some analysts say the economy is soon to take a downward spiral. The weak global demand for Indonesia’s commodities (palm oil and coal) may drag down their exports. Imports have started to fall in the third quarter which suggests that the investment is slowing, which would hinder the currency, productivity, and overall money generated.

  5. As I was reading further into Turkey, I thought of an article I had read previously that talked in detail about how the economy of Turkey would be facing a turning point- for better or worse. It talked about how at a UN conference Turkey had talked about its changing demographics and how they would have a population of upwards to 100 million people by 2050. This would either result in severe unemployment or a great opportunity to expand their economy. I think that if Turkey can take advantage of this situation for the better, they could definitely prove to be a rising power.

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