Tag Archive: powerful emerging countries

  1. There’s a new BRIC in town

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    Like Lexington, you’ve probably heard of the BRIC countries – Brazil, Russia, India, and China. The nickname was created in 2001 when Jim O’Neill, an economist and the future Chairman of Goldman Sachs, used it to describe the countries of the world that would drive future economic growth. He was right about the fact they would drive economic growth. According to The Economist, “The BRICS alone have been responsible for 55 percent of global growth since the end of 2009. Dragged down by debt and austerity, the 23 countries that make up the developed world contributed just 20 percent to that growth.”