BRICs
Brazil, Russia, India and China – together termed BRICs have been an investment disaster and were a marketing-led concept, according to John-Paul Smith, emerging markets equity strategist at Deutsche Bank.“People were launching BRIC funds three, four and five years ago. When Jim O’Neill made the call it was a fantastic call for a few years but then, as with these things, it was taken too far. The reason they are uninvestable is because of the extent of state intervention in those markets, which nobody would have foreseen three years ago,” Smith said.
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As raízes do intervencionismo
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