First, the BRICs; then, the PIGS; now the CIVETS

BRIC = Brazil, Russia, India and China. These are countries that for some years have been declared as about to become major commercial powers.

PIGS = Portugal, Italy, Greece and Spain. These are countries identified a couple of years ago as having major problems of sovereign debt.

CIVETS = Columbia, Indonesia, Vietnam, Egypt, Turkey and South Africa. These are countries recently suggested as the second tier of energy economies.

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