The Brics are dead. Long live the Ticks

Brics

The Brics are dead. Long live the Ticks. The Brics concept, based on the belief that the quartet of Brazil, Russia, India and China would power an unstoppable wave of emerging markets-led economic growth, gripped the firmament for more than a decade after it was conjured into existence by Jim O’Neill… in 2001. But the deepening recessions in Brazil and Russia have now dealt… a blow to faith in the Bric hypothesis… In its place, emerging market fund managers appear to have stumbled on its potential replacement — the Ticks, with tech-heavy Taiwan and (South) Korea elbowing commodity-centric Brazil and Russia. Aside from a catchy acronym, the realignment tells us much about the changing nature of emerging markets — and the world in general — with services, particularly technology, to the fore and trade in physical goods, especially commodities, in retreat.

 

Steve Johnson

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