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Jim O\u2019Neill, the economist who coined the term \u2018BRIC\u2019 25 years ago, argues that the group is losing its relevance.<\/p>\n
At its peak, the BRICS coalition of economies \u2013 Brazil, Russia, India, China and South Africa \u2013 was seen as a serious attempt to move away from the United States dollar and the domination of Western economic institutions like the World Bank, Group of Seven (G7), and International Monetary Fund (IMF).<\/p>\n
But BRICS members have different political agendas, and new forces are at play, argues economist Jim O\u2019Neill, a member of Britain\u2019s House of Lords.<\/p>\n
O\u2019Neill, who coined the term \u201cBRIC\u201d 25 years ago, tells host Steve Clemons that the US\u2019s economic policies may be the driver of its own decline, coupled with the economic rise of China and India.<\/p>\n<\/div>\n
Published On 22 Feb 2026<\/span>22 Feb 2026<\/span><\/p>\n<\/div>\n