By Tom Bradley

BRIC is an acronym for Brazil, Russia, India and China. It was created by Jim O’Neil, the Global Economist at Goldman Sachs (who became a celebrity in the business press as a result).

BRIC was meant to symbolize the shift in economic clout from the developed countries in the west to the new powers. But with Russia withdrawing from the world economy (if I can describe their actions that way), Brazil sliding towards junk bond status and India having limited impact due to internal challenges, I think we need to come up with a new acronym, or go back to an old one (Chindia?).

In the meantime, I declare the term BRIC officially dead.

R.I.P.