BRICS Expansion Gets Interesting If Saudis Join, Jim O’Neill Says
- Saudi Arabia role as massive oil producer would give bloc heft
- Says idea common BRICS currency could top dollar is ‘madness’
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Adding countries to the BRICS bloc will matter economically if Saudi Arabia is one of them but otherwise it’s hard to see the point, said Jim O’Neill, a prominent economist and veteran of Goldman Sachs Group Inc.
Saudi Arabia joining would be a “pretty big deal,” he told Bloomberg Television on Monday, noting that the nation’s traditionally close links with the US and its role as the world’s largest swing oil producer would add heft to the club.