S&P rating agency put forward an opinion that the BRIC abbreviation is hopelessly outdated, and now C+BRI appears to be more appropriate.
BRIC used to unite developing countries with more-than-average economic growth pace (Brazil, Russia, India, and China), but in 2012 these four states had nothing in common in terms of economic and investment matters. Presently, China is the only country in the bloc to demonstrate an impressive rate of development.
S&P analysts consider Russia and Brazil outsiders. The GDP of the Russian Federation shrank 1% in the first quarter of 2012, and that of Brazil contracted by 1.3% in 2012.
The BRIC abbreviation was introduced by Jim O’Neill, chief economist at Goldman Sachs, in 2001. He is still convinced of vigorous growth and an increasingly big role of the developing countries in the world economic arena.
