BIG Mac has long been used for rough and ready comparisons of the cost of living in different countries. Now the Nike trainer has been adopted as a gauge of economic performance for developing countries in Asia.

While Nike's "swoosh" logo is unlikely to replace technical plottings of economic growth charts, the level of its trainer production can provide a "big picture" indicator of Asia's development, according to brokers Robert Fleming.

"Where Nike produces, economies roar," it says in a study. "So far every country that Nike has produced sneakers in has seen high, long-term economic growth." Although the world's biggest sports shoe company has its headquarters in the US, it outsources most production to sub-contractors in Asia.

It started production in Japan in early 1972, then switched to Korea and Taiwan in 1975 and from 1987 began to expand rapidly in Thailand, China and Indonesia.

The broker said Nike's choice of locations was an indicator of countries' development, as it was made not just on labour costs but also on criteria such as political stability, staff quality, infrastructure, government "openness", duties and quotas.

India is lagging behind in the Nike race. The company is still only testing the quality of workmanship there and has not yet made a decision about large-scale production.

While rising production of Nike trainers in a country may indicate growth prospects, a fall could signify a maturing of its economy. Thailand's falling share of Nike production, for example, indicated its economy was ready to move to semiconductors.

Using the sneaker guide, the economic future of China and Indonesia appears bright - each has a 30 per cent share of Nike's total production.

Vietnam is set to lift its share of output from just 2 per cent in 1996 to 10 per cent in this year. "This rapid increase is a proof Vietnam meets Nike's criteria for a successful production base. Vietnam's economic future... is quite bright."