(CNN) -- Early this month, Jim O'Neill, the former Goldman Sachs economist who coined the term "BRICs" (Brazil, Russia, India, and China), appeared on a weeklong BBC series in which he introduced yet another acronym to describe a new group of emerging economies, the "MINTs" (Mexico, Indonesia, Nigeria and Turkey). The BRICs acronym kindled a lot of interest among investors eager to find the next "big thing," while increasing attention to a group of nations that suffered from ongoing economic crisis during the 1990s. But considering that the BRICs economies have not done so well in recent years, perhaps it's not a good idea to introduce another acronym. Doing so suggests that we focus on these nations' economies while overlooking key differences in their political, economic, and social welfare systems.
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Inventor of the BRICs concept has a new acronym for a group of nations to watch
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Eduardo J. Gómez: The notion of MINTs may have similar flaws to the BRICs
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MINT nations -- Mexico, Indonesia, Nigeria, Turkey -- face big and different challenges, he says
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Give them time to develop further before making them models for the world, he says
Brazil
@placeholder's GDP growth level declined from 7.5% in 2010 to 0.9% in 2012,; Russia's from 4.5% in 2010 to 1.3% in 2013; India's from 10.5% in 2010 to approximately 4.4% in 2013, while China's decreased from 10.4% in 2010 to a still substantial 7.6% in 2013.
China
While Brazil and @placeholder have relatively successful public health care systems, Brazil's educational system lacks adequate resources and hasn't succeeded at building a skilled work force, while China's education system is producing a large number of skilled college graduates.
China
While Brazil and China have relatively successful public health care systems, Brazil's educational system lacks adequate resources and hasn't succeeded at building a skilled work force, while @placeholder's education system is producing a large number of skilled college graduates.
Mexico
Mexico
While @placeholder and Turkey have succeeded in extending universal health care coverage for the poor and providing medical services, their education system, as well as Indonesia and Nigeria's, are weak, leading to a low level of college graduates and a small skilled labor force.
MINTs
MINTs
MINT
Adopting the @placeholder acronym could lead us to expect too much, too soon.
MINTs
MINTs
MINT
Indeed, even Jim O'Neill admits that it'll take at least 30 years to see if the @placeholder become economic powerhouses.