E7 (countries): Difference between revisions

The '''E7''' (short for "Emerging 7") is the seven countries China, India, Brazil, Mexico, Russia, Indonesia and Turkey, grouped together because of their major [[Emerging markets|emerging economies]].<ref>{{cite web|url=https://www.bbc.co.uk/news/business-12133254|title=BBC News - UK economy risks 'playing in slow lane of history'|date=2011-01-07|publisher=Bbc.co.uk|access-date=2012-01-29}}</ref> The term was coined by the economists [[John Hawksworth (economist)|John Hawksworth]] and Gordon Cookson at [[PricewaterhouseCoopers]] in 2006.<ref>{{Cite web|url=http://www.pwc.com/la/en/publications/assets/world_2050_brics.pdf|title=The World in 2050|last=Hawksworth|first=John|website=PricewaterhouseCoopers}}</ref>  

The growth of the E7 countries has been characterized in comparison with its size versus the [[Group of Seven]] countries, which had made up many of the largest economies in the world in the 20th century. In 2011, the E7 were predicted to have larger economies than the [[G7 (economies)|G7]] countries by 2020.<ref>{{cite web |url=http://www.investmentweek.co.uk/investment-week/news/1936788/china-overtake-2018-pwc |title=China to overtake US by 2018 - PwC |author=Emma Dunkley |date=2011-01-13|access-date= 2012-04-16|work=[[Investment Week]] |publisher=Incisive Financial Publishing Limited}}</ref> By 2014, the E7 countries had passed the G7 countries based on [[purchasing power parity]] terms.<ref>{{Cite book|url=https://books.google.com/books?id=GZzgDQAAQBAJ|title=Promotional Strategies and New Service Opportunities in Emerging Economies|last=Vipin|first=Nadda|last2=Sumesh|first2=Dadwal|last3=Roya|first3=Rahimi|date=2017-01-10|publisher=IGI Global|isbn=9781522522072|language=en}}</ref> Other estimates said the E7 were 80% of the G7 in 2016 in PPP.<ref>{{Cite book|url=https://books.google.com/books?id=hhiHDQAAQBAJ|title=Integral Operational Leadership: A relationally intelligent approach to sustained performance in the twenty-first century|last=Park|first=Greg|date=2016-11-18|publisher=Routledge|isbn=9781317070863|language=en}}</ref> In 2016, another prediction estimated that the E7's economies would be larger than the G7 in 2030.<ref>{{Cite book|url=https://books.google.com/books?id=DIF4CwAAQBAJ|title=Managing and Leading People Through Organizational Change: The theory and practice of sustaining change through people|last=Hodges|first=Dr Julie|date=2016-02-03|publisher=Kogan Page Publishers|isbn=9780749474201|language=en}}</ref> PWC predicted that the E7 could be 75% larger than the G7 in PPP terms by 2050.<ref>{{Cite book|url=https://books.google.com/books?id=gem_CwAAQBAJ|title=The BRICS and Beyond: The International Political Economy of the Emergence of a New World Order|last=Xing|first=Li|date=2016-03-16|publisher=Routledge|isbn=9781317040002|language=en}}</ref>

Below are the E7 countries and their predicted economies in 2050 <ref>{{cite web|last=Thornton |first=Philip |url=https://www.independent.co.uk/news/business/news/new-e7-nations-will-overtake-g7-by-2050-468415.html |archive-url=https://web.archive.org/web/20100127181121/http://www.independent.co.uk/news/business/news/new-e7-nations-will-overtake-g7-by-2050-468415.html |url-status=dead |archive-date=27 January 2010 |title=New E7 nations 'will overtake G7 by 2050' - Business News - Business |publisher=The Independent |date=2006-03-03 |access-date=2012-01-29}}</ref><ref>{{cite web|url=http://wn.com/E7_(countries) |title=E7 Countries |publisher=Wn.com |access-date=2012-01-29}}</ref> as predicted by [[Goldman Sachs]]:

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