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Which Country Should Be classified with BRIC? Nigeria Or South Africa? - Business (2) - Nairaland

Nairaland Forum / Nairaland / General / Business / Which Country Should Be classified with BRIC? Nigeria Or South Africa? (5498 Views)

Where Is The 'naira' Note Printed? In Nigeria or Abroad? / Nigeria Fit To Join Bric Nations, Says Okonjo-iweala / South Africa Invited To Join Bric; “BRIC” To Henceforth Be Called “BRICS" (2) (3) (4)

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Re: Which Country Should Be classified with BRIC? Nigeria Or South Africa? by houvest: 4:22pm On Aug 05, 2011
Yes they are now in BRICS but I think they had to use lobbying not because they deserve it. The Indices used by Goldman Sachs to arrive at the 4 BRIC states are not those of being an industrialized state but have to do more with potentials of expansion to a World economic leader. I do not see SA as ever going to meet those indices but nothing spoil. Let them join BRIC if it makes them happy. I think that they deserve to be in the G20 where they are already as they meet the requirements of an industralised economy but not BRIC which has more to do with expansivity. Nigeria also does not yet deserve to be in BRIC but N-11 as Godman Sachs rightly projected. However I expect Nigeria to have met the indices for BRIC in say 2018 or thereabouts. SEE bolded below:


South Africa is the world's 31st-largest economy, according to World Bank data for 2009 and is less than a quarter the size of the smallest Bric economy, Russia.
Projected growth for SA
The Bric countries have sought greater clout for their grouping, holding a summit in Russia in 2009. "Bric" is a term invented in 2001 by Jim O'Neill, the chairperson of Goldman Sachs Asset Management.

South Africa applied to join Bric at the G20 meeting of the world's leading economies in Seoul in November, Russian President Dmitry Medvedev said at the meeting.

Its economy is projected by its government to grow about 3% this year, hardly the blistering pace seen in other Bric countries.

Some investors make asset allocations based on the Bric classification and all of the countries that currently make up the grouping have seen their global financial clout increase substantially in recent years. -- AFP, Reuters

http://www.mg.co.za/article/2010-12-24-south-africa-invited-to-join-bric-group




AjanleKoko:

^^
Rightly deserved, really.
South Africa seems to be the only nation that is not only industrialised, but is also industrialising the rest of the continent.
Re: Which Country Should Be classified with BRIC? Nigeria Or South Africa? by klas(m): 5:04pm On Aug 05, 2011
There is an existing economic grouping below BRIC called MAVINS.

The projected GDP in 2020 and 2050 is as follow

Mexico $2.5trillion $10.9 trillion
Australia $1.5trillion $5.8trillion
Vietnam $0.55trillion $3.6trillion
Indonesia $1.8trillion $9.3trillion
Nigeria $0.63trillion $3trillion
South africa $0.88trillion $2.6trillion

http://seekingalpha.com/article/181355-beyond-bric-introducing-mavins

There are also other stories on MAVINS. just google it
Re: Which Country Should Be classified with BRIC? Nigeria Or South Africa? by hercules07: 7:05pm On Aug 05, 2011
We just need purposeful leadership and we will be among the BRICS, what can we do to get in good leadership next time around.
Re: Which Country Should Be classified with BRIC? Nigeria Or South Africa? by Nobody: 7:09pm On Aug 05, 2011
They can both be!!!!!!
Re: Which Country Should Be classified with BRIC? Nigeria Or South Africa? by Azania2(f): 2:53pm On Aug 11, 2011
houvest:

Yes they are now in BRICS but I think they had to use lobbying not because they deserve it. The Indices used by Goldman Sachs to arrive at the 4 BRIC states are not those of being an industrialized state but have to do more with potentials of expansion to a World economic leader. I do not see SA as ever going to meet those indices but nothing spoil. Let them join BRIC if it makes them happy. I think that they deserve to be in the G20 where they are already as they meet the requirements of an industralised economy but not BRIC which has more to do with expansivity. Nigeria also does not yet deserve to be in BRIC but N-11 as Godman Sachs rightly projected. However I expect Nigeria to have met the indices for BRIC in say 2018 or thereabouts. SEE bolded below:
*********************************************************************

Clearly, Brazi, Russia, India and China don't share your views brother. I think these countries see the potential of Mzansi expanding the economy and we all know that if there is any country that has potential in growing is Mzansi. we have proven this time and again.

whether S.A lobbied to be part of BRIC or not doesn't matter but what matters is that we meet the standards to be part of BRIC which is now officially BRICS. The world knows this! kiss
Re: Which Country Should Be classified with BRIC? Nigeria Or South Africa? by Azania2(f): 2:55pm On Aug 11, 2011
Ooops! made a mistake there grin.

Clearly, Brazi, Russia, India and China don't share your views brother. I think these countries see the potential of Mzansi expanding the economy and we all know that if there is any country that has potential in growing is Mzansi. we have proven this time and again.

whether S.A lobbied to be part of BRIC or not doesn't matter but what matters is that we meet the standards to be part of BRIC which is now officially BRICS. The world knows this! kiss

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