According to Goldman Sachs’ Jim O’Neill, growth in BRIC countries is far more critical for global economic health than the fate of Greece. Here is what he said in a recent interview (via RT):

“In the context of the European crisis for example, I’m fond of saying that China creates an economy equivalent to another Greece every 11 and a half weeks. So you could wave Greece off the map and in 11 and a half weeks, China creates another one.” 

“Last year the combined dollar GDP of the four [original – minus South Africa] BRICs increased by 2.1 trillion dollars; so the equivalent of creating another Italy every 15 months, so it has been and remains the most important world economic story in our generation”.

 

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