BRICS Nations Rethink Economic Dominance Challenges
Economist Jim O'Neill, who coined the term 'BRIC', suggests the BRICS group is losing relevance in challenging Western economic supremacy.
In the 25 years since Jim O'Neill coined the term 'BRIC' to describe the fast-growing emerging economies of Brazil, Russia, India, and China, the BRICS group has seen its influence ebb and flow. Now, O'Neill argues that the bloc is losing its relevance in challenging the economic dominance of the West.
O'Neill, the former chief economist at Goldman Sachs, notes that the original BRIC concept was intended to highlight the impressive economic potential of these four nations. But over the years, the group has expanded to include South Africa, and its agenda has become increasingly political rather than purely economic.
{{IMAGE_PLACEHOLDER}}Source: Al Jazeera
