The term “BRIC” nations (Brazil, Russia, India, China) was coined in 2001 by economist Jim O’Neill. The Japanese company Panasonic came up with a new grouping of nations in 2010 called “MINTS + B” (Mexico, Indonesia, Nigeria, Turkey, Saudi Arabia and the Balkans). Fidelity (UK), an investment group, shortened this in 2011 to just “MINT.”
Jim O’Neill, at first, appeared to also coin “MINT” in November 2013 when he wrote, “let’s call them the MINT economies.” Fidelity’s earlier 2011 use of “MINT” was found by Matthew C. Klein and revealed on Twitter on November 13, 2013. However, the Financial Times “beyondbrics” blog credited Panasonic on May 11, 2010:
“The MINTS + B are Mexico, Indonesia, Nigeria, Turkey, Saudi Arabia and the Balkans. Maybe this blog should be renamed.”
Similar acronymns include “PIIGS” (Portugal + Italy + Ireland + Greece + Spain) and “PITS” (Phlippines + Indonesia + Thailand + Singapore).
Wikipedia: Jim O’Neill (economist)
Terence James “Jim” O’Neill (born 17 March 1957), retiring chairman of Goldman Sachs Asset Management, is a British economist best known for coining BRIC, the acronym that stands for Brazil, Russia, India, and China—the four rapidly developing countries that have come to symbolise the shift in global economic power away from the developed G7 economies.
Panasonic (Middle East)
Panasonic Announces New Midterm Management Plan
ii) Expanding Overseas Business Focusing on Emerging Markets: By shifting its business from Japan-centric to globally-oriented, Panasonic will increase its overseas consumer and systems product sales ratio from 48 percent in fiscal 2010 to 55 percent in fiscal 2013. It aims to increase sales of consumer electronics equipment by 330 billion yen in the emerging markets including BRICs + Vietnam and MINTS + B countries (Mexico, Indonesia, Nigeria, Turkey, Saudi Arabia and the Balkans), targeting high-volume segments in each market.
Panasonic hopes growth plans won’t get lost in translation
May 11, 2010 12:01am by Robin Harding
Panasonic loves acronyms and it also loves emerging markets. Its new strategic plan shows its hunger for growth in what it calls the “BRICs + Vietnam and MINTS + B countries”. The MINTS + B are Mexico, Indonesia, Nigeria, Turkey, Saudi Arabia and the Balkans. Maybe this blog should be renamed.
Is MINT the next big investment opportunity
09 May 2011
Investors in the BRIC group of countries have enjoyed excellent returns over the last ten years. Whilst outright replacements for the BRICs are impossible to find, Fidelity are suggesting that there are a number of genuine emerging market opportunities, a layer down from the BRICs, that are not as well appreciated or understood. They say these may have similar long-term investment potential. These emerging markets are Mexico, Indonesia, Nigeria and Turkey and are being grouped together as MINT.
Fidelity is confident its MINTs won’t suck
Posted by Ian Fraser, May 10, 2011
Jim O’Neill has a lot to answer for. In 2001 the British-born Goldman Sachs economist and senior executive coined a term to describe the resurgent economies of Brazil, Russia, India and China - “Bric”.
Ever since, rival economists have been seeking to replicate that achievement by dreaming up sobriquets for other groupings of emerging economies. But none have stuck quite like Brics did. Some like Goldman Sachs Next 11 have turned out to be a very mixed bag for investors while Wim Buiter’s 3G countries (global growth generators) remain a largely untested commodity.
The latest investment group to have a stab at it is Fidelity. It has come up with the term Mint - which the Boston-based asset management firm tells us, in a press release, stands for Mexico, Indonesia, Nigeria and Turkey. Fidelity reckons these four emerging economies will be the “next tier down” from the Brics, and suggests that investing in them will prove to be a passport to riches.
Nov. 22, 2011, 3:50 p.m. EST
Emerging Markets: Redrawing the Map
By Reshma Kapadia
A London-based division of Fidelity, meanwhile, has been talking to advisers about the MINT countries—Mexico, Indonesia, Nigeria and Turkey—which it characterized in a recent report as having the potential to be “as rewarding for investors over the next 10 years as BRICs have been in the past 10.”
So Long BRIC, Hello MINT – Investing in Emerging Markets
By Editor on 13 December 2011
Introducing the MINT Emerging Markets
According to a few emerging market investing experts, MINT countries may be the next big emerging growth investments. By the way, MINT stands for Mexico, Indonesia, Nigeria and Turkey.
Who You Calling a BRIC?
By Jim O’Neill Nov 12, 2013 6:00 PM ET
I spent last week in Indonesia, working on a series for BBC Radio about four of the world’s most populous non-BRIC emerging economies. The BRIC countries—Brazil, Russia, India and China—are already closely watched. The group I’m studying for this project—let’s call them the MINT economies—deserve no less attention. Mexico, Indonesia, Nigeria and Turkey all have very favorable demographics for at least the next 20 years, and their economic prospects are interesting.
Matthew C. Klein
Apparently Fidelity came up with the MINT acronym a few years before Jim O’Neill: http://www.qfinance.com/blogs/ian-fraser/2011/05/10/fidelity-is-confident-its-mints-wont-suck-emerging-economies … h/t @Ian_Fraser
9:56 AM - 13 Nov 13
The Economist Who Invented The BRICs Just Invented A Whole New Group Of Countries: The MINTs
MATTHEW BOESLER NOV. 13, 2013, 11:02 AM 19,243 36
Former Goldman Sachs economist Jim O’Neill is the one who popularized the term “BRICs” in reference to the group of emerging-market economies made up of Brazil, Russia, India, and China.
Fellow Bloomberg View columnist Matthew C. Klein points out on Twitter that Fidelity actually coined the term “MINT” in 2011: ...
New York City • Banking/Finance/Insurance • Wednesday, November 13, 2013 • Permalink