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Response to Demeter (Original post)

Sat Nov 16, 2013, 07:57 AM

20. JIM O'NEILL: We Shouldn't Keep Telling The Emerging Markets To Do Things 'Our Way'

http://www.businessinsider.com/jim-oneill-europe-needs-to-make-space-for-the-ems-2013-11

We need to be prepared to give up some of our joint dominance of world economic governance to allow emerging economies the space their growing power warrants.

Recent data continue to point to signs of an improving recovery in the UK. What is particularly encouraging is that the latest manufacturing PMI survey suggested rising optimism about exports; questions could still be asked about the balance of growth, but if there are now signs of improving exports this adds to the case for the optimists.

The eurozone is no longer quite the concern it once was and that is probably helping, but the real scope for sustainable export strength lies outside Europe and our historic traditional UK export markets. Sustained strength in exports will probably happen if our companies can penetrate the markets in the far-flung world of the so-called BRIC economies - Brazil, Russia, India and, of course, China - and other large emerging markets.

I discuss this in a short book I am soon to publish and I have also been travelling extensively in the past couple of months for a BBC radio documentary I am making about some of the emerging economies beyond the BRICs: Mexico, Indonesia, Nigeria and Turkey. They could become known as the MINTs.



Read more: http://www.businessinsider.com/jim-oneill-europe-needs-to-make-space-for-the-ems-2013-11#ixzz2koSkM3NI

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