With a hat-trick of acquisitions, WPP is stealing a march on its rivals in Brazil
Back in 2001, an economist named Jim O’Neill wrote a paper for Goldman Sachs in which he coined a brand-new acronym – the BRIC economies.
Since then, of course, said acronym has come into widespread daily use as a symbol of the apparent shift in global economic power away from the developed G7 economies towards the developing world, specifically Brazil, Russia, India and China. Predictions about the future power of the BRICs vary wildly, but at some point – nobody can agree quite when – it seems reasonable to assume that, given these four countries comprise 25 per cent of the world’s land surface and 40 per cent of its population, that they will eclipse the US, Japan and the EU.
Of the four countries, the one that is perhaps easiest for us in “the developed West” to understand is Brazil. China is wildly successful, but is a highly centralised, controlling state. Russia has a touch of the lawless Old West about it while India, although more open and democratic, is chaotic.
Confidence in justice system still shattered
From a distance the conversation did not look like an exchange of pleasantries between colleagues returning after the summer break.
But then the Fine Gael TDs have a shared destiny since the former Children's Minister's elevation in Cabinet ranks following Mr Shatter's premature exit from the Justice job. Not only is Ms Fitzgerald left to mop up the various messes in the justice system left in the wake of Mr Shatter's resignation, but she also has a substantial amount of legislation to enact.
Relegated to the backbenches, Mr Shatter has little influence over either, but he is determined to have his say on the reports detailing the events that led to his downfall.
The publication, or lack thereof, of each report on the various Garda controversies brings with it new challenges for Ms Fitzgerald and the justice system. Despite the Government's pledges to restore the public's trust in the gardai, and indeed the Garda watchdog, much has been undone in recent weeks.