If Jim O’Neill were to develop a new abbreviation today, the four BRIC countries would still be included.
(Photo: Bloomberg)
If there is anyone to whom the somewhat overused term legend applies, it is Jim O’Neill. Twenty years ago, the British economist – now ennobled to the Lord of Gatley – invented the BRIC abbreviation.
The acronym was to shape a whole generation of investors and become the benchmark for the performance of the emerging markets.
Not all of the bold predictions made by the former Goldman Sachs chief economist about the major emerging economies of Brazil, Russia, India and China (BRIC) were true. Why he still clings to them.
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Further