The New Indian Express ·
BRICS: Built brick-by-brick from an investing acronym 25 years ago
NEW DELHI: A quarter century ago, a Goldman Sachs economist coined a four-letter acronym to describe four fast growing emerging economies and tried to rhyme it with 'brick' to indicate their strength and longevity and named his research paper 'Building Better Global Economic BRICs'.
This acronym soon started catching the attention of the world brick-by-brick, and this new term, 'BRIC', joined the investing lexicon to describe the quartet of Brazil, Russia, India and China as future drivers of global economic growth.
It grew in size as well — to five with the inclusion of South Africa in 2010, renamed 'BRICS' — and has eleven member-countries now. The leaders, however, decided to continue with the five-letter name for this multi-nation bloc.
