India, Vietnam and Indonesia – with growth is projected to reach at least 7.3 per cent per year until 2025 Next Eleven The Next Eleven (known also by the numeronym N-11) are the eleven countries – Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, Philippines, Turkey, South Korea, and Vietnam – identified by Goldman Sachs investment bank and economist Jim O'Neill in a research paper as having a high potential of becoming, along with the BRICs/BRICS, the world's largest economies in the 21st century. The bank chose these states, all with promising outlooks for investment and future growth, on 12 December 2005. At the end of 2011, the four major countries (Mexico, Indonesia, Nigeria and Turkey) also known as MINT, made up 73 percent of all Next Eleven GDP. BRIC GDP was $13.5 trillion, while MIKT GDP at almost 30 percent of that: $3.9 trillion. Challenges to realising the Asian Century Asia's growth is not guaranteed. Its leaders will have to manage multiple risks and challenges, particularly: Growing inequality within countries, in which wealth and opportunities are confined to the upper echelons. This could undermine social cohesion and stability. Many Asian countries will not be able to make the necessary investments in infrastructure, education and government policies that would help them avoid the Middle Income Trap. Intense competition for finite natural resources, such as land, water, fuel or food, as newly affluent Asians aspire to higher standards of living. Global warming and climate change, which could threaten agricultural production, coastal populations, and numerous major urban areas. Geopolitical rivalry between China and India. Rampant corruption, which plagues many Asian governments. The direct impact of an aging population on continuous economic development (e.g. declining labour force, change of consumption patterns, strain on public finances) Criticism Despite forecasts that predict the rising economic and political strength of Asia, the idea of an Asian Century has faced criticism. This has included the possibility that the continuing high rate of growth could lead to revolution, economic slumps, and environmental problems, especially in mainland China. See also Asiacentrism Asia Council Chindia Shanghai Cooperation Organisation Regional Comprehensive Economic Partnership South Asian Association for Regional Cooperation Chinese Century Indian Century Pax Sinica Korean wave China's peaceful rise Four Asian Tigers Tiger Cub Economies Pacific Century Cool Japan Taiwanese wave References Sources Further reading Mahbubani, Kishore (2009) The New Asian Hemisphere: The Irresistible Shift of Global Power to the East.