BUSINESS
02/06/2011 05:12 am ET | Updated May 25, 2011

BRIC Consumers 'Key Investment' of Our Lifetime, Goldman Sachs's Oneill Says

Dec. 7 (Bloomberg) -- Consumer spending in Brazil, Russia, India and China may surpass U.S. purchases in 15 years and companies that sell to emerging-market shoppers are some of the best investments "of our lifetime," Goldman Sachs Asset Management Chairman Jim O'Neill said.

Spending in the so-called BRIC countries may climb by more than $500 billion a year, O'Neill said in a Bloomberg Television interview in London yesterday. BRIC consumer spending was about $4 trillion in 2009, compared with about $10 trillion in the U.S., O'Neill wrote in a Dec. 3 research note.

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