India-China Cooperation Could Be ‘Transformational for the World’, Says BRIC Creator Jim O’Neill
What Happened
Lord Jim O’Neill, the economist who coined the term“BRIC” in 2001, said India and China have exceeded his original growth projections and now dominate the economic weight of BRICS. He argued that the grouping must move beyond rhetoric and focus on practical measures such as trade, payments systems and economic cooperation.
Key Takeaways
O’Neill said deeper cooperation between India and China, particularly on trade, payments and global challenges such as climate change and public health, could be “transformational” not only for BRICS but for the world. He also noted that India’s growing economy is making it increasingly influential within the bloc and could help establish it as the world’s third-largest economy within the next few years.