Now, let’s look at the past track record before jumping on this latest merry-go-round. BRIC and MINT enthusiasts were/are enamoured of large populations with a skew toward younger demographics which ensure a future workforce. Plus being a commodity-rich nation doesn’t hurt.
So, on paper, BRIC looked good and, in fact, India and China did have amazing GDP growth. But cultural quicksand made expansion there – mostly by wealthy multi-nationals that could afford to buy a controlling interest in a local established entity – difficult. Brazil is leaning so far left these days that it should have its own yoga position. Russia is, well …Russia. They did have one good year in their history, but that was 1913.
On to the MINTs. I would shorten this to MT. Call them the ‘mountain’ countries. Mexico, where I have done “mucho negocios” over the years looks set to move forward quickly with economic reforms that are quite extraordinary in education, finance and of course, energy. Opening the nationalised oil company PEMEX to foreign interests is just one healthy step among many. Turkey, I think, is another winner. Or at least has the potential if the rather heavy-handed government doesn’t screw the pooch there.
Indonesia has a massive young population and is centered in the Asian region, but also very diverse with over 17,000 islands and 700 dialects. Nigeria is a mess. And not just from the 400,000 barrels of oil that are illegally tapped from their pipeline every day. Not the place one would want to invest long-term unless you have lots of chips and are playing with house money.
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Douglas Sacks is the founder of DLS International LLC, which specialises in database compilation, enhancement and analysis and identifying hard-to-find mega databases on a global basis.
He is the author of more than 100 articles on international marketing. sacks.douglas@gmail.com
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