The long-running boom in emerging markets came to be identified, if not propped up, by wide acceptance of the term BRICs, shorthand for the fast-growing countries Brazil, Russia, India and China. Recent turmoil in these and similar markets has produced a rival expression: the Fragile Five.
The new name, as coined by a little-known research analyst at Morgan Stanley last summer, identifies Turkey, Brazil, India, South Africa and Indonesia as economies that have become too dependent on skittish foreign investment to finance their growth ambitions.
Turmoil is a state of great anxiety and confusion.
1. In the turmoil resulting from the collision, the arrested man broke loose and ran off.
2. The London Stock Exchange is in turmoil today.
3. I couldn’t think; my mind was in a complete turmoil.