Brics: shaky building blocks


    When Goldman Sachs’ Jim O’Neill coined the term Bric in 2001 to refer to the grouping of Brazil, Russia, India and China, it marked an economic moment when money and power had the potential to shift away from the developed world to the developing world. The intervening years have been mixed for the Brics at a time when the stock markets of more developed economies have bounced back.

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