금융시장 `브릭스`(BRICs)와 `미스트`(MISTs) (영문)

금융시장 `브릭스`(BRICs)와 `미스트`(MISTs) (영문)

금융시장 `브릭스`(BRICs)와 `미스트`(MISTs) (영문).docx

목차 1. Introduction - From BRICs To MISTs What s wrong with BRIC? Meet the MIST Chart 1: MEXBOL Chart 2: EWW Chart 3: IDX Chart 4: TUR Chart 5: EWY 2. Main subject - About MIST countries Common Features Mexico Indonesia South Korea Turkey 3. Implementation/Conclusion The big risks Conclusion 4. References 본문 Introduction From BRICs To MISTs What s wrong with BRIC? China, seen by many as a stalwart, has begun showing structural weaknesses as it struggles to maintain its phenomenal growth rates. Part of the problem with China has been its dependence on exports and investment as drivers of growth. Chinese growth came down in tandem with world demand due to the financial crisis. There exists an imbalance in the composition of China s growth, and therefore a shift towards a growth story that incorporates domestic consumption demand should be on the minds of Chinese policy makers. The country essentially needs to revise its policies that spur growth of private enterprise (which are sources of innovation and productivity) and gradually decrease state-owned businesses market share. Latest figures reveal that weakening domestic demand (coupled with falling commodity prices) led to a fall in imports. Also included in the figures is the worst industrial output growth in three years. Risks are being cited that would lead to the lowest full year growth rate for the economy in two decades. Russia and Brazil, the two commodity exporters, are no different in their woes. Russia is the world s second largest oil producer, and recently suffered from declining oil exports and capital flight. With the threat of the euro contagion continuing to spread, Russia could see a slowdown in its growth rate to 3.5% in the next year as compared to 4.3% last year. Russia s relatively authoritative regime has prompted investors to look elsewhere. Capital flight in the second quarter of 2012 reached $22B. Brazil was another success story until recently, as it helplessly watched its GDP growth falter to 2.7% last year as compared to a resilient 7.5% in 2010. Authorities are quick to point fingers at Europe s deplorable problem-solving skills. In reality, however, other things are at play. There has been underinvestment in infrastructure (spends only 18% of GDP), high inflation has been driving up costs of energy and wages, and high interest rates, which are all drags on the economy. Meet the MIST The MIST nations are a bloc blessed with favorable demographics, are high paced economies, and each represents at least 1% of the global GDP. Similar to BRIC, MIST countries show manageable debt levels, but have managed to grow with lower inflation rates on average. Mexico has a GDP of $1.15 trillion (2011) and has seen its benchmark IPC Index (MEXBOL) appreciate by 18% over a year (Chart 1). Manufacturing is an area where Mexico can make huge leaps with its low costs; the country is in fact competing with China in manufacturing. Furthermore, with its large neighbor in the north, Mexico has a potential partner for its exports. 참고문헌 Articles : NY times 2012/10/07, "금융시장, 브릭스 지고 MIST 뜬다" 세계일보 2012/10/07 "Move Over, BRICs. Here Come the MISTs" Business week 2012/08/09 "The New Economic Potential in the MIST" Open markets 2012/10/25 Index : Indonesia s Jakarta Stock Exchange Composite Index Market Vectors Indonesia Index ETF 『HOW TO INVEST』 by KDB대우증권 Trading Economics (www.tradingeconomics.com/) KORTA (http://www.kotra.or.kr/main/trade/country/main.jsp) International Monetary Fund IMF World bank UN Others: 블로그 세계 경제 이끄는 핵심 국가 2 MIKT| 작성자 ygyoo41 Export Solutions-distributor Identification Experts Beyond BRIC - Selling to MIST http://blog.naver.com/how2invest/110145211922 네이버금융해외증시 http://finance.naver.com/world/ 키워드 금융시장, 미스트, 브릭스, 금융, 영문