From https://finance.yahoo.com/economy/articles/inventor-brics-message-lazy-colonial-050000475.html
Title : The inventor of BRICS has a message for ‘lazy, colonial’ Europe—India and China are still not taken seriously enough on the world stage
By Kamal Ahmed , Oct 2026
... Twenty-five years ago Jim O'Neill (then Goldman Sachs' leading economist) and his team had alighted on a new, emerging market trend—four countries (Brazil, Russia, India, and China) that would .. be the new power houses, growing far more rapidly than the mature economies of the West.
The BRICs acronym stuck, although O'Neill now jokes that it might have been better to call the group "ICs"... "India & China have surpassed the numbers that we showed could happen ...
Figures from Fulcrum Asset Management reveal that the cumulative growth/capita since 2000 of India totaled 246%. China's hit 554%. During the same period the figures for the U.S., the European continent and the U.K. are, in order, 45%, 30% and 29% ...
Agreements on global banking regulations were forged, but little was done to re-order institutions and welcome more emerging market members to the top table. Western nations jealously guarded their privileges ...
"It will force more centrist thinkers and the core of liberal values to re-engage properly with the rest of the world," O'Neill said. "That will include accepting, let's call it the Mark Carney line, that you might not like how China's run, you might not like how Narendra Modi runs India, but you've got to accept half the world's population doesn't want to be like us, and so rather than trying to pursue a world where you assume they are going to be like us, or you want to force them to be like us, you just get on with it."...
That the G7 still has no room for either China or India 25 years later shows a stubborn reverence for 20th century institutions. For O'Neill, it is time for a significant upgrade.
Title : The inventor of BRICS has a message for ‘lazy, colonial’ Europe—India and China are still not taken seriously enough on the world stage
By Kamal Ahmed , Oct 2026
... Twenty-five years ago Jim O'Neill (then Goldman Sachs' leading economist) and his team had alighted on a new, emerging market trend—four countries (Brazil, Russia, India, and China) that would .. be the new power houses, growing far more rapidly than the mature economies of the West.
The BRICs acronym stuck, although O'Neill now jokes that it might have been better to call the group "ICs"... "India & China have surpassed the numbers that we showed could happen ...
Figures from Fulcrum Asset Management reveal that the cumulative growth/capita since 2000 of India totaled 246%. China's hit 554%. During the same period the figures for the U.S., the European continent and the U.K. are, in order, 45%, 30% and 29% ...
Agreements on global banking regulations were forged, but little was done to re-order institutions and welcome more emerging market members to the top table. Western nations jealously guarded their privileges ...
"It will force more centrist thinkers and the core of liberal values to re-engage properly with the rest of the world," O'Neill said. "That will include accepting, let's call it the Mark Carney line, that you might not like how China's run, you might not like how Narendra Modi runs India, but you've got to accept half the world's population doesn't want to be like us, and so rather than trying to pursue a world where you assume they are going to be like us, or you want to force them to be like us, you just get on with it."...
That the G7 still has no room for either China or India 25 years later shows a stubborn reverence for 20th century institutions. For O'Neill, it is time for a significant upgrade.
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