Next Eleven

What Is Next Eleven?

The next eleven, otherwise called N-11, are the eleven countries that are ready to turn into the greatest economies in the world in the 21st century, after the BRIC countries. The N-11 was picked by Goldman Sachs Group, Inc in a 2005 paper investigating the capability of BRIC and the N-11. The next eleven are South Korea, Mexico, Bangladesh, Egypt, Indonesia, Iran, Nigeria, Pakistan, the Philippines, Turkey, and Vietnam.

Figuring out Next Eleven

The next eleven were named in a paper called "How Solid are the BRICs?" by Jim O'Neill, Dominic Wilson, Roopa Purushothaman, and Anna Stupnytska of Goldman Sachs, distributed December 1, 2005. The purpose of the paper was to audit the performance of the BRIC countries, which are Brazil, Russia, Indian, and China. Goldman Sachs had recently named the BRICs the next countries to have world economies. The paper evaluated the progress of the BRICs, however at that point in a section named, "Are There More 'BRICs' Out There? A Look At the N-11" presented the possibility of a bigger set of countries that were probably going to foster on a more slow direction than the BRICs would, however might in any case become world powers.

The creators of the paper established a Growth Environment Score (GES) to assist them with rating the countries and their true capacity for growth into world economies. The parts of the GES are macroeconomic stability, macroeconomic conditions, innovative ability, human capital, and political conditions. As indicated by the paper, "...strong growth is best accomplished with a stable and open economy, sound investment, high rates of technology adoption, a solid and knowledgeable labor force, and a secure and control based political environment." Countries were inspected, and the next eleven were picked. The creators of the paper utilized mathematical modeling to make charts of which countries could have the strongest economies 20 and 45 years after the paper was distributed, measuring income per capita and the biggest economy.

South Korea

South Korea, alluded to as basically "Korea" in the paper, scored among the highest of the relative multitude of countries considered, and was viewed as a quickly creating, developing economy that was, nonetheless, as yet lagging behind the BRICs. Of the multitude of countries in the N-11, South Korea has presumably satisfied the forecasts most closely, with a robust economy and high scores on the GES measures from the original paper. Mexico was likewise viewed as progressing quickly and having great potential.