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Tag: BRIC

Why Russia should not be a B(R)IC member

maandag, november 15, 2010 · Category Economy · comments 2

Why Russia should not be a B(R)IC member

After 9/11 economist Jim O’Neill of Goldman Sachs Group, created the term BRIC to describe the four major emerging countries in the world. He made a series of projections for the future, imagining what the world would look like - economically speaking - in 2050. Since than the media has used the term as an acronym to refer to Brasil, Russia, India and China. Russia should not be in the BRIC, because the country's crisis is not financial but systematical.

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BRIC(S) | South-Africa as the port to the African Continent?

zaterdag, januari 8, 2011 · Category Economy · comments 0

BRIC(S) | South-Africa as the port to the African Continent?

With it's lagging economy and an official unemployment rate of 24,8% (unofficial rate close to 40%) adding South-Africa to Jim O'Neill's BRIC countries, seems a little bit odd. According to South-African media it is an important milestone, signifying South Africa is becoming a major emerging economy in the world. Being invited by China, it's largest trading partner, it seems more a political move than one based on facts and figures.

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