JOHN DLUDLU: From invite-only to knocking on the Brics door
Progress has been slow as diplomats have tried to agree on criteria for the expansion of the bloc
16 August 2023 - 05:00
In 2001 Jim O’Neill, an economist at Goldman Sachs, came up with the acronym “Bric” while explaining that he believed the next wave of growth would come from emerging markets such as Brazil, Russia, India and China.
Years later, foreign ministers of the Bric met to begin the process of formally organising the group into a bloc. The mission was simple: to co-operate, on an equal basis, on politics, trade and investment. ..
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