Civet cat

What are CIVETS?

By now, you’ve probably heard of the BRICs, the “developing world” economies that are pretty well developed, and flexing their muscle on the world economic and political stage: Brazil, Russia, India, and China.

Well, get ready for an even sillier acronym, courtesy of our friends among the financial analysts: CIVETS, the next BRICs. (That’s a civet cat to the left there.) Hard to believe it’s been 10 years since the BRICs were coined by a Goldman Sachs analyst, but now it appears there’s a new cluster who are following in their footsteps. This time it’s HSBC that’s out in front on the creative acronym: Colombia, Indonesia, Vietnam, Egypt, Turkey, and South Africa. Given that my family’s from Colombia and I just visited South Africa, I’m tickled. But how real is this grouping, and what kind of influence are the CIVETS going to have in the near future?

More to the point, what kind of philanthropy might we expect from the CIVETS? The BRICs have some pretty interesting giving trends going on: GIFE, the Brazilian analog to the Council on Foundations, has been going strong for years, and a Chinese billionaire made his own version of the Giving Pledge a few months back. What about the CIVETS? Colombia has had a robust corporate philanthropy sector for at least a decade; I recall attending a civil society conference while studying there in 1996 that had a good deal of domestic funding. What about IVETS? Might be a good place to start exploring the international side of one of my two questions: what is the role of philanthropy in a democratic society?

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One Response to “CIVETS”

  1. The Blog Briefly Known as "Democratizing Philanthropy?" » Blog Archive » CIVETS (part 2) Says:

    […] Previously, as a way of exploring the first of my two questions, “What is the role of philanthropy in a democratic society?”, I wondered what philanthropy looks like in the CIVETS, the developing economies recently labeled by a financial analyst at HSBC as ones to watch in the years ahead: Colombia, Indonesia, Vietnam, Egypt, Turkey, and South Africa. […]

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