In 2001, Jim O’Neill created the acronym and concept of BRICs, predicting the growing economic importance of Brazil, Russia, India and China. How have these countries, including the later added “S” for South Africa developed in both economic as well as geopolitical terms? Does the concept entail a coherent entity? What is the view of the BRICS countries on the world and each other? Is the concept of BRICS in 2019 still relevant to understand today’s world? In this Clingendael Spectator special, eight authors revisit the BRICS in six analyses, eighteen years after the introduction of the much discussed concept.
Is the concept of the BRIC(S) still relevant to understand today’s world?
“The World Needs Better Economic BRICs”, was the very first paper written about the concept in 2001 by Jim O’Neill. Was the creator of the acronym wrong about Brazil and Russia? What about the expectations for the economic performance of China and India? And who turned the small s- for plural- into a large S to include South Africa?