The place of developing countries was taken by Growth 8 countries
China, Russia, India, Brazil, Turkey, Mexico, South Korea and Indonesia are no longer related to developing countries, as the head of Goldman Sachs Asset Management Jim O'NIN, who once came up with the term Bric. These markets, which so far, however, cannot be attributed to industrial powers, he proposes to name Growth 8. According to O'Nele, the aggregate GDP of these eight countries will be about a third of the world economy by 2020.