MINT COUNTRIES

Impact of Globalization on MINT Countries

[Name of the Instituion]

Introduction2

Globalization2

MINT Countries3

Potential of MINT to grow:3

Impact of Globalization on MINT countries5

Impact of Globalization in Mexico5

Economic Growth5

Trade6

Technology7

Impact of Globalization in Indonesia8

Economic Growth8

Technology9

Trade9

Impact of Globalization in Nigeria9

Economic Growth10

Trade11

Technology11

Impact of Globalization in Turkey12

Economic Growth12

Trade and Technology13

Conclusion13

Introduction

Development in today's world is simply defined as the increase in the skills and abilities of individuals, groups, communities so that they can live a better life and they know how to utilize their abilities in their interest which can achieve them self respect and a life with dignity.

To achieve such motives of life, there are many ways to which can be used. One can work to increase its physical assets and capital, use of new technologies, more incentives but of all above the important mean or investment would be the increase in human capital. Human capital can be increased by proper education, time to time training, increased employment opportunities, increase in skills and abilities to bring some innovation in the market and proper utilization of resources.

With all these resources and skills, businesses are no more limited to their nation. It has been growing globally and that is why globalization has increased tremendously in today's environment.

Globalization

Globalization can not be defined in three to four lines, neither it is any theory or concept. Globalization is a wider term and its meaning changes from time to time and according to circumstances of different countries and in different situation. Globalization is defined as movement of national goods and businesses out of the national boundaries, along with the exchange of information, policies, and ideas. Globalization has mainly influence the Multinational Companies as with the release of trade barriers and improvement of technologies their businesses flourished tremendously. Globalization is also termed as regression, destabilization or colonialism (Mexican's called it instead of globalization). Globalization has given boost to the growth of economies worldwide.

MINT Countries

Goldman Sachs, the former economist Jim O'Neill will always be related to the term BRIC- which stands for Brazil, Russia, India and China and more commonly it is now called as BRICS in which S stands for South Africa. It has been a common term phrasing these countries since decades, but now Jim O'Neill, although he is no more with Goldman has made a new acronym MINT.

MINT is the acronym for Mexico, Indonesia, Nigeria and Turkey. It is the Jim O'Neill assertion that MINT would be the next powerhouses of economics. They are referred as because of some basis like younger generation, geographical placements which are useful and commodity producers except Turkey. (forbes.com)

Potential of MINT to grow:

Followers of BRIC have sarcastically noted that MINT can develop because they are probably the young blood than BRICS, along with many people it was analyzed that they have better demographics and will see an increase of working and eligible workers then those who are not working.

Many developed countries including the two BRIC countries, Russia and China are jealous because of this rising of MINT. It is also said that if the MINT ...