Templeton Asset Management’s Mark Mobius says he remains high on the “BRIC” countries — Brazil, Russia, India, and China — and says the Euro and Chinese Renminbi will likely play a greater role in world markets over the next decade.

“I believe the Bric (Brazil, Russia, India and China) countries will continue to do quite well at different times,” Mobius writes in an op-ed piece for Dubai-based Gulf News. “Each of these countries has unique characteristics and as such, their markets will react differently under various conditions.” Mobius says other smaller emerging markets like Mexico, Indonesia, Bangladesh, and Turkey “will be important and very interesting to watch” going forward.

Mobius says growth in domestic consumption will be key to driving growth in emerging economies, and says he thinks emerging markets’ value could surpass the combined value of the U.S., European, and Japanese markets in the next decade. But he adds that if governments do not foster enough employment and spend wisely, it could lead to dangerous inflation and political instability.

But Mobius by no means thinks the Euro is dead. “Of course, there are challenges, such as member countries’ need to control government spending, but once these are sorted out, I believe the euro should be very successful and, in fact, it could possibly play a greater role in the global economy in 2020 than it does today,” he writes. He also says China’s Renminbi could become a global reserve currency by 2020.