Beyond the BRICS

BRICS leaders at the fifth BRICS summit in Durban, South Africa on March 26-27, 2013. From left to right: Indian Prime Minister Manmohan Singh, Chinese President Xi Jinping, South African President Jacob Zuma, Brazilian President Dilma Rousseff and Russian President Vladimir Putin. Photo by: BRICS summit

There’s a new “it” economic bloc in town: Mexico, Indonesia, South Korea and Turkey, collectively known as MIST.

Investors now look up to the MIST countries as new havens for investment after markets in the BRICS Brazil, Russia, India, China, and South Africa have gone slow these days.

Awash with cash, MIST governments invest their money in health. They spent about 6.5 percent of their gross domestic product in the sector, more than what the BRICS collectively spent at 5 percent in 2010.

The median health spending per capita is $640 in 2010 higher than the BRIC’s $525. The group however doesn’t rely too much on official development assistance to invest in their health sector.

The level of health aid has in fact gone down these past years, and, collectively, health aid to MIST went down by 7 percent from 2010 to 2011.

By being aid recipients and becoming aid provides, MIST contries are revolutionizing the development world and, some argue, even changing the rules of the game.

These emerging donors conduct their development work through South-South cooperation.

Click on the image to see in large size.

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About the author

  • Alliage profile

    John Alliage Morales

    As a staff writer, John Alliage Morales covers the Americas, focusing on the world's top donor hub, Washington, and its aid community - from Capitol Hill to Dupont Circle, Foggy Bottom to the downtown headquarters of USAID, the World Bank and Millennium Challenge Corp. Prior to joining Devex, Alliage worked for a variety of news outlets including GMA, the Philippine TV network, where he conducted interviews, analyzed data and produced in-depth stories on development and other topics.

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