YOU already know the BRICs. Now meet the briquettes. The former, of course, refers to Brazil, Russia, India and China, the emerging economic powerhouses that are underpinning the extraordinary demand for minerals and energy.
Jim O'Neill of Goldman Sachs, who came up with the BRICs mnemonic, last week added the term briquettes or, more elegantly, the Next 11: South Korea, Mexico, Indonesia, Turkey, Egypt, Nigeria, Bangladesh, Pakistan, Iran, The Philippines and Vietnam, all growing far more quickly than North America or Europe.
At the same time, David Rijkers at DJ Carmichael has been turning out reports arguing the commodity super-cycle is intact despite price retreats.
He's not alone and quotes Standard Chartered Bank's The Super-Cycle Report, which has some astonishing projections.
In 2010, global gross domestic product was $US62 trillion. By 2030 -- and that's only 18 years away -- it is projected at $US308 trillion, with China at $US73 trillion (greater than the entire wealth of the world today).
Then look at Standard Chartered Bank's forecast for the leading economies in 2030. There's China at the top (with that $US73 trillion), followed by the US at $US38 trillion, India barking at its heels on $US30.3 trillion; then comes Brazil, Indonesia, Japan, Germany, Mexico, France and Britain.
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The Australian
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