A new age of anger awaits India and Brazil3 min read . Updated: 02 Aug 2021, 05:46 AM IST
Evidence that post-pandemic inequality will be lethal to everyday social order, let alone democracy, in emerging economies is mounting
Two decades ago, a Goldman Sachs executive coined the label BRICs to describe four big emerging nations: Brazil, Russia, India and China. Rapid growth and expansion of the ranks of the wealthy in these countries vindicated the faith of investors. Their leaders started to hold annual summit meetings and even established their own development bank. They invited South Africa to become a member in 2011, conveniently completing the catchy acronym.
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