The different developments in six graphics

Salvador, Düsseldorf, Berlin, Bangkok, Beijing Jim O’Neill’s predictions were as bold as they were surprising: Brazil, Russia, India and China, which he called the “BRIC countries”, would dominate the world economy. The end of the domination of large industrialized countries is foreseeable. It was exactly 20 years ago that the former chief economist of the US investment bank Goldman Sachs dared to make this forecast.

“BRIC” – this catchy acronym from O’Neill should actually shape a whole generation of investors and become a measure of the performance of the emerging markets as a whole. Some of his predictions – such as the breathtaking rise of China – actually came true. But especially with regard to the development of Russia and Brazil, the optimism at the time seems completely exaggerated.