UK paper: MIST with Turkey comes

The Guardian says after BRIC comes MIST, the acronym Turkey would certainly welcome.

UK paper: MIST with Turkey comes

The term MIST has been coined to describe the next tier of large emerging economies - Mexico, Indonesia, South Korea and Turkey, British Daily the Guardian said on Monday.

The Guardian said, "acronyms have long been a favourite of policy wonks and policymakers, shorthand for describing the world and the changes taking place in it. Jim O'Neill, the Goldman Sachs economist who came up with the now-mainstream 'BRIC' catch-all for four quite different economies Brazil, Russia, India and China has done it again. 'MIST' or Mexico, Indonesia, South Korea and Turkey is O'Neill's latest rhetorical agglomeration, pulling four more far-flung countries together and talking-up the next tier of large emerging economies."

"Pundits might have a field day with this, with MIST obviously more vapid and perhaps lacking the solidity of its BRIC antecedent. Still, all four have in common a number of factors: a large population and market, a big economy at about 1% of global GDP each, and all are members of the G20," it said.

"Sinan Ulgen heads up Istanbul Economics, a thinktank in the cultural capital. He says: 'Turkey became a much more attractive destination for FDI, breaking a new record in 2007 before the global crisis with $22bn of FDI [foreign direct investment] inflows.' Investment has waxed and waned since then but, as Ulgen continues, the country has a large and as yet unsaturated market, which should make it attractive to investors," it said.

"Turkey has other assets too. With three grey minarets tacked rather incongruously on to the old, faded red brick, the Hagia Sophia, once the largest church in the world and subsequently a mosque, is now a museum, a landmark draw for Turkey's tourist industry. It works, and even on a cold Thursday morning in January, with the minarets fading into the steely looking sky, hundreds of visitors lined up to roam the vast mosaic-covered interior. By 2023, the centenary of the founding of the Turkish Republic, the country hopes to have more than doubled arrivals to 63 million, thereby becoming one of the world's top five tourist destinations. It is all part of Turkey's plan to rise up the global economic ladder, partly by taking advantage of its location as a natural bridge from east to west. One can, after all, cross from Europe to Asia in Istanbul," it said.


Last Mod: 01 Şubat 2011, 13:28
Add Comment