| Publication |
2011.
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| Summary/Abstract |
"We are convinced of the necessity to strengthen the tendency for the creation of a polycentric, more equitable and democratic world that relies on the methods of network diplomacy."1
Sergei Lavrov, Foreign Minister of the Russian Federation
IN NOVEMBER 2001, Jim O'Neill, head of global economic research group of Goldman Sachs, one of the largest Wall Street investment banks, in his analytical paper suggested to unite, on the strength of certain criteria, Brazil, Russia, India, and China, four larger emerging market economies, into a virtual club which he called BRIC. Its instant success caught everyone unawares even though Karl Marx back in the 19th century had warned that once the idea gripped the masses it became a material force.
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