Mario Garnero Addresses Council on Foreign Relations and Columbia on ‘Powerhouse Nations’
NEW YORK, Dec. 12, 2011 /PRNewswire/ — Mario Garnero, Chairman of Brasilinvest, Brazil’s pioneer merchant bank, stated that BRIC countries (Brazil, Russia, India and China) can no longer be simply described as ‘Emerging Markets’. Their economic, political and energy status make them ‘Powerhouse Nations’.
The Chairman of Brasilinvest addressed audiences last week at the Council on Foreign Relations, the US most important think-tank on global affairs. He further elaborated on the subject at a conference on BRIC held at Columbia University.
Garnero’s remarks at the Council followed lectures by former Senior Advisor to the Clinton Presidency David Rothkopf and former US Ambassador to Brazil Donna Hrinak, who is currently CEO of Boeing in Brazil. At Columbia, Garnero talked amidst academia and political leaders from BRIC countries.
‘Powerhouse Nations’ will be “the dynamo of world economic expansion for the next half century’. According to Garnero, Powerhouse Nations should be classified by a criterion that goes beyond mere economic output and therefore include the capacity to play constructive roles in their regional spheres of influence. “Speaking of ‘Emerging Markets’ falls short of meaning in the contemporary world”, Garnero suggests.
Garnero’s theoretical approach comes at a time when the BRIC concept is celebrating its 10th Anniversary since it first appeared in a research paper formulated by Jim OÃ‚´Neill, Chairman of Global Asset Management at Goldman Sachs. OÃ‚´Neill has recently expanded his analysis of the acronym BRIC by suggesting new nations to be featured on what he calls the “Growth Map”, subject of his recently-launched book.
“Energy capacity is another category that needs to be considered in defining Powerhouse Nations. Articulating fossil and biofuels makes a lot for the political and economic clout of a nation in the global scenario to play out in the next couple of decades,” he indicated. In various degrees, it does make sense to rank nations with “Powerhouse Status” such as the original BRIC (Brazil, Russia, India and China), as well as South Africa, Mexico, Indonesia, Turkey and South Korea.
Mario Garnero makes good on his concept through his activities as an entrepreneur and global advocate for the Green Economy. He authors books on BrazilÃ‚´s role in the global economy and chairs two think-tanks centered around hemispheric integration (Forum das Americas) and the United Nations (UNA-Brazil).
SOURCE Forum das Americas