Goldman’s O’Neill Sees Aging Labor in BRICs - Bloomberg

Goldman’s O’Neill Sees Aging Labor in BRICs - Bloomberg: Top Ten

Goldman Sachs Asset Management Chairman Jim O’Neill, who coined the BRICs acronym a decade ago, said other emerging economies may now be better investments -- especially Indonesia, Turkey, Egypt and Mexico.

“These four countries could be in the top 10 contributors to global GDP this decade, adding well over $2 trillion,” London-based O’Neill said in an e-mailed response to questions on Dec. 29. “With large young populations, these countries could become powerful growth stories.”

While Goldman started its N-11 fund (GSYIX) in February covering the “Next Eleven” emerging nations to “benefit from superior growth potential,” O’Neill said the size of the BRICs economies means they will remain “the most dominant and positive force in the world economy.”

Together, Brazil, Russia, India and China account for about 25 percent of world gross domestic product, according to Goldman.