The Philippines, Indonesia, Bangladesh and Ethiopia are among 10 countries set to take over as emerging economies from the powerful BRICS nations, the French trade credit and insurance group Coface said. The growth of emerging economies and the effect this has on world trade flows is closely analyzed by economists because of the huge impact on every aspect of the global economy and power balances. Coface broke the 10 new emerging economies it has identified into two groups. The first comprises Peru, the Philippines, Indonesia, Colombia and Sri Lanka, which it named the PPICS. The second group comprises Kenya, Tanzania, Zambia, Bangladesh and Ethiopia.
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