China will never grow at its explosive rate again but India is yet to match its GDP output , Russia is lagging and Turkey 's potential is being leached by political turbulence , according to participants in an economic panel hosted by CNN 's John Defterios . So where can the world expect to find growth ? The panel , held during June 's St. Petersburg International Economic Forum -- known as Russia 's `` Davos '' -- explored the issue with experts . CNN 's guests were Hakan Ates , president and ceo of DenizBank ; Emilio Lozoya , ceo of PEMEX ; Charles Robertson , global chief economist at Renaissance Capital ; Vladimir Yakunin , president of Russian Railways and Nikolai Zelenski , ceo of Nordgold . READ MORE : Russia FinMin : We will survive if Fed winds down stimulus . Between them , the panelists represented countries from the BRICs , and other countries tagged as ones to watch . Robertson kicked off the conversation with his blunt assessment of the world 's potential to be dragged out of its mire by China . The country , whose economy was last year flagged to become the world 's biggest by 2016 , has slowed and expectations for its growth downgraded . Robertson said the country `` will never again grow at a sustainable 10 % . '' But the BRIC 's other true pillar -- India -- can not yet match its potential , he added . Russia and Brazil are the other two nations that fall under the BRIC acronym , coined by former Goldman Sachs economist Jim O'Neill , and they are struggling . Russia has been reliant on commodities but prices have been falling in recent months -- and impacting the country 's growth prospects . READ MORE : New powers do n't need west . Yakunin 's role as head of the country 's railways affords him a birds-eye view of the country 's investment potential . And he pointed to the need for investment in the real economy , rather than just financial services , to boost growth and create jobs . But , as Yakunin noted , the much-vaunted diversification of the economy has proved difficult for Russia to tackle . According to Zelenski , a lack of infrastructure investment is also the key problem in Russia . Further , he argues the country did not put away enough when the times were good , unlike China . READ MORE : To Russia : Create change with football . Meanwhile in Turkey , which is not a BRIC nation but has enjoyed a buoyant economy despite the turmoil of countries around it , faces a rockier path to EU membership after the government 's heavy-handed approach to the protestors . During the keynote panel at the forum , Germany chancellor Angela Merkel said she was `` shocked '' at the reaction to the protests and questioned if it was the right time for Turkey to join the European Union . The diplomatic hiccup comes after years of strong growth by Turkey under Prime Minister Recep Tayyip Erdogan 's hand . According to Ates , the protests were not against economic pain , given the country 's strong record of growth . But , when asked if Erdogan had been in power too long , he noted people needed to express themselves to secure democracy . `` We will see at the next election if it has been too long , '' he added . Turkey should see cause for hope , Ates said . He sees a `` promising and favorable '' landscape for investors in Turkey , with a well educated population . `` The human capital is there ... but we still have to do more . '' WATCH MORE : Bank of BRICs ? Lozoya said Mexico was another economy with significant potential due to its natural resources and proximity to Latin America . According to Lozoya , there is `` huge potential '' in areas such as manufacturing and petro-chemicals , and the chance to feed hungry markets Latin and North America . However , Lozoya said , Mexico must n't fall back on protectionist policies . `` we have a good momentum , '' he added .
Where can the world find growth ? A special panel hosted by John McCain discussed the global economy . Participants said it would not grow at its explosive rate again , but other economies were also weak . The panel was held in St Petersburg , Russia , a country which has suffered from falling commodity prices . Russia was pointed to as an economy which has potential despite recent recession .