Jim O'Neill, Columnist

A Ten-Step Program for Understanding Emerging Markets

It doesn't much matter whether an economy is "emerging" or "advanced." Those terms shouldn't be a substitute for thinking.

May 20, 2014 at 10:39 PM UTC

By Jim O'Neill

Jim O'Neill worked for Goldman Sachs Group Inc. from 1995 until 2013, serving most recently as chairman of Goldman Sachs Asset Management, and as the firm's chief economist from 2001 to 2011. Before joining Goldman Sachs, he was head of global research at Swiss Bank Corp. O'Neill is the creator of the BRIC acronym, which was derived from his thesis that Brazil, Russia, India and China would dominate growth in emerging markets. He is a member of the boards of the Brussels-based policy-research centers Itinera Institute and Bruegel. He earned a degree in economics from Sheffield University in 1978 and a doctorate from the University of Surrey in 1982. He lives in London.

Sure, China's growing -- but not so fast. Photographer: Brent Lewin/Bloomberg — Sure, China's growing -- but not so fast. Photographer: Brent Lewin/Bloomberg

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In a recent round of conferences about the so-called emerging-market economies, I often found myself at odds with other analysts and had to keep making the same points repeatedly. To save time in the future, here they are:

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