O’Neill Urges BRICS Bloc to Expand, Challenge Dollar’s Dominance
- Strict admission criteria needed: Ex-Goldman chief economist
- Group should focus on climate finance, boosting trade, health
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Jim O’Neill, the former Goldman Sachs Group Inc. chief economist who coined the acronym BRIC, said the bloc of nations that later adopted the name should expand and work to counter the dollar’s dominance.
In a paper published in the Global Policy journal on March 26, O’Neill called on the group to apply strict criteria to ensure the addition of any new members to its ranks helps further its aims and urged it to focus on climate finance, improving healthcare and boosting trade.