Global financial crisis to help BRICs grow

06/9/2008 | Reuters

Jim O'Neill, the Goldman Sachs economist who coined the term BRIC, said that the ongoing financial crisis would help Brazil, Russia, India and China take a larger share of the global gross domestic product. "On a relative basis it definitely allows the BRICs to develop faster as they are going to take an even bigger share of GDP sooner," O'Neill said. "This is a financial crisis of the West and we must not forget that of the world's 6 billion people most of them are not affected by this."

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