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The Growth Map: Economic Opportunity in the BRICs and Beyond [Kindle Edition]

Jim O'Neill
3.8 out of 5 stars  See all reviews (19 customer reviews)

Print List Price: $29.95
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Sold by: Penguin Group (USA) LLC

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Book Description

In 2001, Jim O'Neill predicted the fastest growing economies of the past decade. Now he's back to explore the new growth markets we should all be watching closely today.

It's been ten years since Jim O'Neill conceived of the BRIC acronym. He and his team made a startling prediction: Four developing nations- Brazil, Russia, India, and China (the BRICs)-would overtake the six largest Western economies within forty years. The BRIC analysis permanently changed the world of global investing, and its accuracy has stood the test of time.

The Growth Map features O'Neill's personal account of the BRIC phenomenon, how it has evolved, and where those four key nations currently stand after a turbulent decade. And the book also offers an equally bold prediction about the "Next Eleven" countries: Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, Philippines, South Korea, Turkey, and Vietnam. These developing nations may not seem exceptional today, but they offer exciting opportunities for investors over the next decade, just as BRIC did before them.

O'Neill also shares several compelling insights about the world economy. He reveals the value for growing countries in being "willing to play" by meaningfully committing to policies that encourage further growth and engagement with globalization. He explains how the g20 can adjust to better incorporate the BRICs and to better reflect the balance of the global economy.

Finally, O'Neill makes the counterintuitive claim that good things can quite often come from crises. While established economic powers may see the rise of the BRICs as a threat, international trade benefits us all over the long term. Likewise, the recent financial crisis revealed deep problems in our economic systems, problems we now have the opportunity to fix.

A work of astute and absorbing analysis, The Growth Map is an indispensable guide for every investor and every participant in the global economy. Anyone who wants to understand the developing world would do well to heed the man called "one of the most sought-after economic commentators on the planet." (The Telegraph)




Editorial Reviews

Review

There is no better guide to the new map of the economic world than Jim O'Neill -- Niall Ferguson, author of The Ascent of Money and Civilisation O'Neill has redefined how investors and Western business leaders see the world. This book tells the unlikely story of how O'Neill developed this path-breaking idea... lively, powerful and highly accessible -- Gillian Tett Financial Times Jim O'Neill challenges the lazy consensus and persuades us that the great swing to the East should be welcomed rather than resented by an anxious West. This is a book we all needed -- Sir Martin Sorrell, CEO, WPP O'Neill has changed how the world thinks about economic growth - and how the BRICs think about themselves -- Lloyd Blankfein, chairman and CEO, Goldman Sachs Jim O'Neill is Goldman Sachs' rock star Business Week Eye-catching, startling ... has many merits Management Today Reveals the next stages in the progress of the non-Western economies which have come to dominate corporate life across the world Daily Telegraph A passionate riff on the subject. O'Neill's enthusiasm for the BRIC story stands out The Financial Times The top foreign-exchange economist anywhere in the world in the past decade -- Gavyn Davies, former BBC chairman The guru of Goldman Sachs has long been ahead of the curve -- Blake Hounshell, Foreign Policy O'Neill encourages us to concentrate on the basics: population and productivity. It's the demography, stupid. Admirably simple Bloomberg BusinessWeek A brilliant and insightful analysis of the dynamic forces that are changing our world and the lives of millions of people. Jim O'Neill has done more than anyone to illuminate the shifting landscape of the global economy -- Michael Spence, Nobel Prize-winning economist If you want to learn how emerging markets are going to develop in the coming years, you don't have to wait for some future historian: just read this wonderful book -- Arminio Fraga, economist and former President of the Central Bank of Brazil Jim O'Neill's theory about the BRICs has become a reality. His new book makes it clear that growth markets will grow to the benefit of all -- Arkady Dvorkovich, advisor to Russian President Dmitry Medvedev Compulsory reading for all those interested in the world economy -- Montek Singh Ahluwalia, economist and Deputy Chairman of the Planning Commission of the Republic of India O'Neill's book provides us with more insights into how the world is better with BRICs emerging. Just like the book says, it is a great challenge indeed, but it is a great opportunity worth exploring -- Prof. FAN Gang, Director of NERI-China (National Economic Research Institute, China Reform Foundation)

About the Author

Jim O'Neill is Chairman of Goldman Sachs Asset Management. He joined Goldman Sachs in 1995, rising to chief economist, and in 2001 he led the team that conducted the original BRIC analysis. He is a member of the boards of the UK Royal Economic Society, Itinera and Bruegel, and also chairman of the charity SHINE. He has a lifelong passion for Manchester United FC, and has served as a non-executive director of the club's board.

Product Details

  • File Size: 479 KB
  • Print Length: 256 pages
  • Publisher: Portfolio (December 8, 2011)
  • Sold by: Penguin Group (USA) LLC
  • Language: English
  • ASIN: B005OH9LTK
  • Text-to-Speech: Enabled
  • X-Ray:
  • Word Wise: Enabled
  • Lending: Not Enabled
  • Amazon Best Sellers Rank: #564,504 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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Customer Reviews

Most Helpful Customer Reviews
36 of 40 people found the following review helpful
5.0 out of 5 stars Road Map to a New World Order December 12, 2011
Format:Hardcover|Verified Purchase
Jim O'Neill first reminds his audience how he selected the original four developing economies which are widely known under the acronym BRIC, i.e., Brazil, Russia, India, and China. In the Chapter "BRIC by BRIC," Mr. O'Neill gives a nice summary of the key milestones that each of the four economies has achieved since he coined the acronym in 2001. To his credit, the author usually does not hesitate to deal with the shortcomings which still afflict each of these economies, despite their numerous achievements. In the coming decades, the BRICs are expected to continue to make waves in the cultural, economic, financial, and socio-political spheres due to their (favorable) demographics and increased productivity. More interestingly, Mr. O'Neill articulates clearly how and why he identifies economies such as Indonesia, South Korea, Mexico, and Turkey among the N-11, i.e., the "Next Eleven" countries. These countries represent the next waves on which multinationals and investors should also ride for their benefit. Mr. O'Neill invites the developed nations, most of which are struggling, to seize the opportunity that the current global credit crisis offers them, not only to reform themselves for the better, but also to further increase their exports to the BRICs and N-11. Mr. O'Neill repeatedly draws the attention of his audience to the fact that the Germans have been very good at seizing the opportunities that the deepening globalization offers them. The author's graph about German exports since 2007 is illuminating on this subject. Due to this evolving landscape, Mr. O'Neill calls for the reformation of international institutions such as the International Monetary Fund, the World Bank, the G20, or the United Nations to reflect the changing pecking order of the most powerful nations on earth. Read more ›
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23 of 27 people found the following review helpful
1.0 out of 5 stars Globalization For Toddlers February 10, 2012
Format:Hardcover
An astonishing book. Astonishing for its lack of depth and insight. Early on the author states "...on a basic level I often find it amusing that it (the BRIC thesis) is considered so profound. Four big populations becoming more productive and engaging with the rest of the world in a way they hadn't previously: if they carried on doing the same, they were going to be big, plain and simple." I should have stopped reading at that point. All of the author's thinking is based on simple modeling of population growth and productivity (for which he uses available World Bank data). The lack of any meaningful insight into the business environment of the specific countries he discusses is staggering. Most of his "evidence" involves anecdotes from personal travel experiences, e.g. on one trip I saw carts in the road, on the next trip I saw cars. For those of you hoping to get real insight into the N-11 (Next 11) countries, prepare to be grievously disappointed. There is next to nothing besides a list. O'Neill also professes what can only be called a "faith-based" belief that globalization benefits all and that the developed countries will regain their lost industries as consumer markets emerge around the world. The ONLY support for this position is the example of BMW exporting cars successfully to Russia and China. An example that is repeated more than a dozen times throughout the book and which he apparently came upon because a German friend had to wait 6 months for his BMW because of an order backlog for China. O'Neill may be right, but he hasn't marshaled any substantial evidence to support his views. I felt like I was listening to a pre-school teacher explaining economics to Toddlers, not a world renowned PhD economist.
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61 of 77 people found the following review helpful
2.0 out of 5 stars OLD AND ERRONEOUS THESIS THAT IS NOT WORTH BUYING January 19, 2012
By Sanford
Format:Hardcover
I try to buy every book by Portfolio and most do so well, I feel no need to add a review. So I feel bad reviewing their book for the first time, and that too negatively but this fits the category of books I review: over-hyped or erroneous theories by over-paid or erroneous authors.

Jim O'Neill was surely the first person to coin the term BRIC but it is hardly a reason for a victory lap. Much of the criticism about it has already been made on the web, that Turkey and Vietnam grew much faster, that it gave credence to communist China and non-reformist India, etc. All those criticisms apply to this book too. But what is more obvious is that by the time he coined the phrase, it was ten years AFTER Tiannamen Square and eight years after a political crisis in India had initiated privatization, and all those markets were red hot already. A research analyst at Goldman Sachs cannot change the trajectory of 3 billion people, as the author arrogantly insists on suggesting.

Secondly, the book hypes another theory already old: the next eleven, countries that include Turkey and Bangladesh and Pakistan, all ostensibly chosen for their population driven growth. All that O'Neill confirms is that absent a world war or genocide that kills those people, people will create their own demand for food and clothing, and no matter how unproductive or uneducated, will begin to be important in the aggregate. There is thus no prescriptive analysis of what makes countries grow or if it would continue in the future.

Thirdly, the terrain O'Neill covers is the world of development economics. Now I dont know his background but he surely has no tight grasp on the role of technology or freedom, not in a way that is statistically significant.
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Most Recent Customer Reviews
1.0 out of 5 stars Ignores too many important acpects of the global economy
If you can stick your head in the sand, concentrate on the infinite growth of the consumerist heaven (i.e. Read more
Published 11 days ago by Ex-Patty
4.0 out of 5 stars Brics and the Media
I came across this recently in Jim O"Neil's 2011 book "The Growth Map". He is the Chairman of Goldman Sachs Asset Management and came up with the BRIC concept to describe the... Read more
Published 1 month ago by Christopher Kelly
5.0 out of 5 stars Five Stars
Great piece of information
Published 2 months ago by alsal
4.0 out of 5 stars Great Read
Great macroeconomic view about how the world is growing, I would like more about inequalities and its consequences inside BRICs and N11s
Published 5 months ago by Oscar Nafarrate
3.0 out of 5 stars Interesting but lacking
This is an interesting book to read, which gives a good overview, but unfortunately it lacks the detail that one might expect from Jim O'Neill. Read more
Published 16 months ago by Kasper W
5.0 out of 5 stars Favorite textbook thus far
This is one of my favorite textbooks I've ever had to read for class. Jim O'Neill is a stellar writer, and every chapter was engaging. Read more
Published 19 months ago by Erin
5.0 out of 5 stars Jim is Great
His incites into global finance are unmatched. I do business in India, and he is right to target with his analysis.
Published on December 23, 2012 by James L. Turnipseed
5.0 out of 5 stars Excellent for those interested in the economy
My husband is very, very interested in economic opportunity. Also, he follows the economy of our country. Excellent gift idea.
Published on December 11, 2012 by Nancy C. Braley
5.0 out of 5 stars Keeping up with Global Economy
The book is well written (easy and dynamic) and tells in details the history of BRICs - since Goldman Sachs/Jim O'Neill study in 2001 until its review in 2011. Read more
Published on June 20, 2012 by Vitor
5.0 out of 5 stars economics as a social science
according to Jim O'Neill, the world economy has doubled in size since 2001, and a third of that growth has come from the BRIC's. Read more
Published on February 11, 2012 by Marlon Varsace
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