from The American Heritage® Dictionary of the English Language, 5th Edition.
- noun The set of countries comprising Brazil, Russia, India, and China, especially viewed as an emerging market.
- noun Any one of these countries, viewed as an emerging market.
from Wiktionary, Creative Commons Attribution/Share-Alike License.
- initialism politics, economics
Brazil, Russia, Indiaand China
- initialism economics The fast-growing economies of the above countries
Sorry, no etymologies found.
The term BRIC was coined by Goldman Sachs economist Jim O'Neill in 2001 to call attention to four rising economies that he thought would play an increasingly large global role.
During the 1990s and at the beginning of this century, seemingly every problem experienced by a poorer country some of them not so poor anymore, since the term BRIC came into fashion was met with the same prescription.
Last month, Goldman Sachs's Jim O'Neill, best known for inventing the term BRIC for the world's largest developing economies, said India's performance was the most disappointing of the four countries in the grouping.
The term BRIC was defined by Goldman Sachs economist Jim O'Neill way back in 2001 in a report called "Building Better Global Economic BRICs."
Shortly after its introduction in 2001 by Goldman Sachs, the term BRIC—short for Brazil, Russia, India and China—was on investors' lips the world over.
Goldman Sachs has singled Nigeria out as the only sub-Saharan African country on its "Next 11" fund, and Goldman Sachs' Jim O'Neill, coiner of the term BRIC, has touted Nigeria as the African country to watch.
The number will grow further in the coming 10 years, adding hugely to the demand for imported higher value added goods, according to Goldman Sachs, whose economist Jim O'Neill is credited with coining the term BRIC in 2001.
Last month, Goldman Sachs's Jim O'Neill, best known for inventing the term "BRIC" for the world's largest developing economies, said India's performance was the most disappointing of the four countries in the group.
Goldman Sachs coined the term BRIC in 2001 to call attention to profitable opportunities in what the investment firm considered "emerging markets."
It's hard to believe the term BRIC was invented only ten years ago.
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