The world changed in 2001 when Goldman Sachs economist Jim O’Neill coined a clever acronym for the hottest emerging markets of the day: Brazil, Russia, India and China. For a decade, the so-called BRIC nations drove global growth and investment while the economies of the U.S., Japan and the European Union stagnated. BRIC now is cemented into the language of international business. Before retiring earlier this year, O’Neill was known on Wall Street as “Mr. BRIC.” But ...

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