Goldman Sachs economist Jim O'Neill famously coined the phrase "BRICs" in 2001 to describe the bloc of emerging markets - Brazil, Russia, India and China - whose growth was so explosive that their markets were on their way to eclipsing America's. In the December issue of Foreign Affairs, Ruchir Sharma, head of Morgan Stanley Investment Management's emerging markets desk, argues that the miracle of the BRICs is over. ...the new norm ...
http://www.businessinsider.com/morgan-stanleys-ruchir-sharma-on-brics-
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