The BRIC countries have changed over the past 20 years

Rio de Janeiro

Jim O’Neill predicted 20 years ago that Brazil, Russia, India and China would dominate the world economy.

(Photo: dpa)

Salvador, Düsseldorf, Berlin, Bangkok, Beijing Jim O’Neill’s predictions were bold and surprising: Brazil, Russia, India and China, which he called the “BRIC countries”, would dominate the world economy. The end of the hegemony of the large industrialized countries is expected. Exactly 20 years ago, the former chief economist of the US investment bank Goldman Sachs dared to make such a prediction.

“BRIC” – This catchy acronym from O’Neill is believed to shape a generation of investors and to be a barometer of the performance of emerging markets as a whole. Some of his predictions – like the breathtaking rise of China – have come true. But with a view to developments in Russia and Brazil, the optimism at the time seemed completely exaggerated.

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