Emerging Markets

Question 1

Trade

Answer 1

flow of goods and services between producers and consumers around the world

Question 2

NIC

Answer 2

Newly Industrialising Countries

Countries which are developing and are experiencing rapid industrial and economic growth

Question 3

Emerging Market

Answer 3

countryy that has some of the characteristics of a MEDC but does not meet all the criteria

Question 4

Criteria for emerging market

Answer 4

-economy progressing towards MEDC status
-high annual growth rate in GDP with income between 10-75% avg EU per capita income
-growth evident across variety of economic sectors inc services and manufacturing

Question 5

BRICS

Answer 5

Brazil
Russia
India
China
South Africa

Question 6

BRICS GDP growth rate

Answer 6

1990s 10%

Question 7

BRICS population

Answer 7

very large
India and China over 1 billion
SA smallest

Question 8

Demographic Dividend

Answer 8

stage of dev when fertility lvl is starting to fall but here is still a young working age population that will continue to boost economy

Question 9

What was planned for development 2013

Answer 9

New Development Bank
currency reserve of 100 billion dollars
aim was provide funding for infrastructure and sus dev in BRICS
Each country has equal share and ownership of bank

Question 10

MINT

Answer 10

Mexico
Indonesia
Nigeria
Turkey

Question 11

Mexico

Answer 11

15th largest global economy
member of North American Free Trade Association and Organisation for Economic Cooperation and Development
Large local wealth - large domestic consumer market

Question 12

Indonesia

Answer 12

7th in terms of global GDP
fast growing economy
largest economy in SEA
4th most populated country

Question 13

Nigeria

Answer 13

major oil exporter
20th in world GDP
largest economy in Africa
Manufacturing sector very big but still underperforming
Internal ethnic/political/religious issues seen as holding back further econ growth

Question 14

Turkey

Answer 14

bridge nation between west and islamic world
2010 econ growth rate 9.2% - fastest in world
18th largest econ in GDP
expected to grow fast rate next 20 yrs

Question 15

Controversies within Emerging Markets

Answer 15

-BRICS self contained but MINT loose group of like minded without central org

-BRICS seem to have economic and political agenda to challenge G-20 and GG7 countries

-Some countries struggled with corruption issues in the past (Nigeria and Indonesia)

-T,C, R not known for for good record in human rights - major roadblock to further development

-other countries show interest in joining BRICS