When Jim O'Neill of Goldman Sachs dubbed Brazil, Russia, India and China the "BRIC countries," the world sensed he was on to something, according to The Economist. When several of the BRIC countries negotiated as a group at the climate-change conference in Copenhagen, it became clear that they can, and will, combine forces to push for change, The Economist notes. "The BRICs' begetter ... O'Neill, does not regret his creation: his 'overriding conclusion is that [they] are a good mechanism for pressing rich countries to change their role in managing the global economy more radically,' " The Economist concludes.

Related Summaries