Simon Roughneen Guardian
The term MIST has been coined to describe the next tier of large emerging economies - Mexico, Indonesia, South Korea and Turkey. Can Turkey live up to the hype?
Acronyms have long been a favourite of policy wonks and policymakers, shorthand for describing the world and the changes taking place in it. Jim O'Neill, the Goldman Sachs economist who came up with the now-mainstream "BRIC" catch-all for four quite different economies – Brazil, Russia, India and China – has done it again.
"MIST" – or Mexico, Indonesia, South Korea and Turkey – is O'Neill's latest rhetorical agglomeration, pulling four more far-flung countries together and talking-up the next tier of large "emerging economies".
Pundits might have a field day with this, with MIST obviously more vapid and perhaps lacking the solidity of its BRIC antecedent. Still, all four have in common a number of factors: a large population and market, a big economy at about 1% of global GDP each, and all are members of the G20.
