DEFINITION of 'EAGLES'
An acronym introduced by Spanish bank BBVA in 2010 to describe the emerging and growth-leading economies of Korea, Indonesia, Mexico, Turkey, Egypt and Taiwan along with the BRIC countries Brazil, Russia, India and China. BBVA expected these countries to generate 50% of the global economic growth through 2020, whereas it expected the G7 countries of France, Germany, the United States, Canada, Italy, Japan and the United Kingdom to generate just 14%.
BREAKING DOWN 'EAGLES'
In contrast to the BRIC acronym, which represents specific countries, the EAGLE acronym represents a type of economy and thus allows for the adding and dropping of countries as economic conditions evolve. BBVA anticipated that Nigeria, Poland, South Africa, Thailand, Colombia, Vietnam, Bangladesh, Malaysia, Argentina, Peru and the Philippines could join the EAGLEs as their economies develop further.