Monday, 14 July 2014

 

Russia Has Earned Its Place in the BRICS Bank PDF Print Email
Monday, 14 July 2014 08:37 Experts Policy Center

Russia Has Earned Its Place in the BRICS Bank

By Chris Weafer

MOSCOW, July 14, 2014 (TMT) --- In 2001 Goldman Sachs strategist Jim O'Neill first proposed the acronym BRIC to group together Brazil, Russia, India and China, four of the world's fastest-growing economies. In 2010 South Africa joined the group, changing the acronym to BRICS.

For many years the theme worked very well. For example, the MSCI Emerging Markets Index, a measure dominated by the BRICS countries, expanded by 270 percent between January 2000 and 2007, while the Developed Market Index gained by only 28 percent.


 

 

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