BRIMC

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BRIMC is a relatively new term used to refer to the combination of Brazil, Russia, India, Mexico and China.

The term derived from the Goldman Sachs investment bank thesis called BRIC. Jim O'Neill, expert from the same bank and creator of the economic thesis, stated that in 2001 when the paper was created, it did not consider Mexico, but today it has been included because the country is experiencing the same factors that the other countries first included present.^[1][2] The main point of this paper was to argue that the economies of the BRIMCs are rapidly developing and by the year 2050 will eclipse most of the current richest countries of the world. Finally, due to the popularity of the Goldman Sachs thesis, "BRIMC" is becoming a more generic marketing term to refer to these five countries, or even to newly industrialized countries in general.

The term is primarily used in the economic and financial spheres as well in academia. Its usage has grown specially in the investment sector, where it is used to refer to the bonds emitted by these emerging markets governments.^[3][4][5]

Contents 1 The BRIMC thesis 2 Other uses 3 Mexico 4 References 5 See also

[edit] The BRIMC thesis

It is primarily the same as the BRIC^[6]. Goldman Sachs argues that the economic potential of Brazil, Russia, India, Mexico and China is such that they may become among the five most dominant economies by the year 2050. The thesis was proposed by Jim O'Neill, global economist at Goldman Sachs. These countries are forecast to encompass over forty percent of the world's population and hold a combined GDP [PPP] of 14.951 trillion dollars. On almost every scale, they would be the largest entity on the global stage. However, it is important to note that it is not the intent of Goldman Sachs to argue that these five countries are a political alliance (such as the European Union) or any formal trading association, like ASEAN. Nevertheless, they have taken steps to increase their political cooperation, mainly as a way of influencing the United States position on major trade accords, or, through the implicit threat of political cooperation, as a way of extracting political concessions from the United States, such as the proposed nuclear cooperation with India.

[edit] Other uses

The term is used in the financial world to describe the countries in which investing opportunities in bonds are notable and offer high rentability.^[3]

[edit] Mexico

Since 2001, Mexico has experienced an improved debt-to-GDP ratio, pension reform, tax reform, and judicial reform. Mexico's inflation rates and interest rates have remained lower than Brazil's. Any reforms to Mexico's oil sector may further improve its growth prospects over the next several decades.

[edit] References

• Goldman Sachs Paper No.134 BRIMC (English)

• El Universal Newspaper (Spanish)

[edit] See also

• G8+5
• Newly industrialized country
• Emerging markets
• BRIC

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