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The N-11 never acquired the cachet of the BRIC acronym, which I coined in 2001 to describe a bloc of emerging economies (Brazil, Russia, India, and China) that stood to have a significant impact on the world economy in the future.In other words, while its population is slightly larger than that of China or India, its economy is about half the size of China's, but larger than Japan's and more than twice the size of India's.Eight years later, the MIST economies still have a chance to account for around 2-3 percent of world GDP.Of the other seven N-11 economies, Nigeria, Vietnam and perhaps Iran stand out for having the most potential. Still, each faces serious obstacles to becoming a $1 trillion economy, never mind accounting for 2-3 percent of world GDP.Given the size of its output, the N-11's growth is contributing significantly to the world economy, alongside the primary drivers of China and India.An unblinkered view of the world reveals many promising signs, especially for the global economy.
The future of economic growth can be easily predicted
Can economics shake its long-held assumptions?
Is Japan’s economic sun
starting to rise?
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