Egypt is a CIVET. And one of the Next 11. And an “Eagle”…
The BRICS are dead. Long live … the CIVETS? No, not the “small, lithe-bodied, mostly nocturnal mammal native to tropical Asia and Africa,” but “Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa.” It’s one of the next “acronyms and country groupings invented by bankers and consultants to help investors and companies work out where they should be investing,” the Wall Street Journal writes. What other lists does Egypt appear on? The WSJ notes:
The Next 11 (like BRICs, a Goldman Sachs construct) that includes Bangladesh, Egypt, Indonesia, Iran, South Korea, Mexico, Nigeria, Pakistan, the Philippines, Turkey and Vietnam). Goldman’s marketing brochure for the Next 11 is here (pdf).
The EAGLES, or Emerging and Growth-Led Economies, as BBVA has termed them. Members include China, India, Brazil, Indonesia, South Korea, Russia, Mexico, Egypt, Taiwan and Turkey. BBVA’s piece on the Eagle (we can only do the all-caps thing once, really is here (also in pdf).
(Oh, and was anyone else aware that Egypt had “applied” to become a member of the BRICs? No? Neither had we. The notion that Cairo and Buenos Aires both want to become BRICs cropped up almost as a throwaway line in a Daily Mail pickup of an AP story on the BRICs meeting in Goa yesterday.)