The upstarts challenging China

Mavi Boncuk | From The Sunday Times / June 17, 2007

The upstarts challenging China
With China in a bubble, the smart money is looking further afield to ‘frontier’ markets such as Vietnam and Turkey
Philip Scott

The red-hot Chinese and Indian markets have been getting all the attention, but savvy investors are looking to even more exotic “frontier” countries for high returns.

With Shanghai shares soaring into bubble territory and Mumbai looking equally overvalued, the smart money is shifting to up-and-coming countries such as Egypt, Turkey and Mexico, which offer equally compelling growth rates but are not so overheated.

Goldman Sachs, the American investment bank that coined the term Bric (Brazil, Russia, India and China), has compiled a list of the “next 11” regions it thinks are snapping at Bric’s heels – Bangladesh, Egypt, Indone-sia, Iran, South Korea, Mexico, Nigeria, Paki-stan, the Philippines, Turkey and Vietnam.

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