BRICS and Western Economic Dominance

Jim O’Neill, the economist who coined the term ‘BRIC’ 25 years ago, argues that the group is losing its relevance.

He notes that the BRICS coalition of Brazil, Russia, India, China, and South Africa once aimed to challenge Western economic dominance but now faces challenges due to differing political agendas among its members. O’Neill attributes the potential decline of the US’s economic influence to its own policies and the rising economies of China and India.

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