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The Economist Who Coined The Term 'BRIC' Thinks Brazil And Russia Could Get Kicked Out Of The Club

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Putin Rousseff

Bloomberg interviewed former Goldman Sachs chief economist Jim O'Neill, who initially coined the term "BRIC" back in 2001, and he said the group could soon break up.

O'Neill said he would no longer group those countries together  or, if things continue, certainly not by 2019.

You already know that India is the new It Girl of the BRIC countries, and China, while slowing, still boasts impressive growth and output that makes the rest of the world jealous.

Russia and Brazil, on the other hand, are flailing, and could soon lose membership to that club of emerging market powerhouses, O'Neill said.

Brazil's economy is only expected to grow 1 percent this year, and Russia's will actually contract 1.8 percent, according to the report.

Meanwhile, China's growth, measured by purchasing power parity, will add twice as much to global output as the United States', and India's will double that of the United Kingdom by those terms, O'Neill said. No wonder they would want to ditch the others.

Read the full Bloomberg article here>>

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