Brazil and Russia's membership of the BRICs may expire by theend of this decade if they fail to revive their flagging economies,according to Jim O'Neill, the former Goldman Sachs Group Inc. chiefeconomist who coined the acronym.
Asked if he would still group Brazil, Russia, India, and Chinatogether as emerging market powerhouses, as he did in 2001, O'Neillsaid in an email “I might be tempted to call it just 'IC,' or ifthe next three years are the same as the last for Brazil andRussia, I might in 2019!!”
The BRIC grouping will be dragged down by a 1.8 percentcontraction in Russia and less than 1 percent expansion in Brazil,according to the median estimate of economists surveyed byBloomberg News. China is seen growing 7 percent and India 5.5percent.
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