BRIC theory is profoundly flawed…

BRICs theory was first introduced by Jim O’Neill, managing director of Goldman Sachs (investment bank) in 2003. The four BRIC countries are, Brazil, Russia, India and China. The Goldman Sachs’ thesis contemplated that the economies of the BRICs are rapidly developing and by 2050 will eclipse most of the current richest countries of the world. [...]

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