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Jim O'Neill, a former Goldman Sachs economist and now UK House of Lords member, coined the "BRIC" acronym in 2001 to highlight the rising power of Brazil, Russia, India, and China as challengers to G7 dominance. (Photo: Foreign, Commonwealth & Development Office)

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Jim O’Neill — the coiner of BRIC

That the world is no longer dominated by the United States, the EU, or other groups of wealthy Western states such as the G7 or G20, as it was in 2000, is becoming increasingly clear.

Reports on the EU’s economic future and competitiveness by European grandees Mario Draghi and Enrico Letta warned that the bloc was failing to keep pace with China.

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Author Bio

Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.

Jim O'Neill, a former Goldman Sachs economist and now UK House of Lords member, coined the "BRIC" acronym in 2001 to highlight the rising power of Brazil, Russia, India, and China as challengers to G7 dominance. (Photo: Foreign, Commonwealth & Development Office)

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Author Bio

Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.

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