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Will BRICs Become ICs?

Brazil and Russia can't keep up with growth rates in China and India; developing market powerhouses may shrink to two.

By Bloomberg News | Updated on January 09, 2015

Brazil and Russia’s membership of the BRICs may expire by the end of this decade if they fail to revive their flagging economies, according to Jim O’Neill, the former Goldman Sachs Group Inc. chief economist who coined the acronym.

Asked if he would still group Brazil, Russia, India, and China together as emerging market powerhouses, as he did in 2001, O’Neill said in an email “I might be tempted to call it just ’IC,’ or if the next three years are the same as the last for Brazil and Russia, I might in 2019!!”

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