Brics
BRICS Countries
Introduction
BRICS represents the first important non-Western global initiative in the post-Cold War world. It brings together five major emerging powers located in different parts of the world — Brazil, Russia, India, China, and South Africa, with the first letter in their names making up the acronym BRICS. In fact, the BRICS grouping can be called the R-5, after the names of its members’ currencies — the real, ruble, rupee, renminbi, and rand. * History
The foreign ministers of the initial four BRIC states (Brazil, Russia, India, and China) met in New York City in September 2006, beginning a series of high-level meetings. A full-scale diplomatic meeting was held in Yekaterinburg, Russia, on May 16, 2008. * First summit
The BRIC grouping 's first formal summit commenced in Yekaterinburg on June 16, 2009, with Luiz Inácio Lula da Silva, Dmitry Medvedev, Manmohan Singh, and Hu Jintao, the respective leaders of Brazil, Russia, India and China, all attending. The summit 's focus was on means of improving the global economic situation and reforming financial institutions, and discussed how the four countries could better co-operate in the future. There was further discussion of ways that developing countries, such as the BRIC members, could become more involved in global affairs.
According to Forbes, "The general consensus is that the term was first prominently used in a Goldman Sachs report from 2003, which speculated that by 2050 these four economies would be wealthier than most of the current major economic powers."
* Entry of South Africa
In March 2012, South Africa appeared to join BRIC, which thus became BRICS. At that time, Brazil, Russia, India, China and South Africa met in India to discuss the formation of a development bank to pool resources. At that point, the BRIC countries were responsible for about 18% of the world 's Gross Domestic Product and were home to 40% of the earth 's population.
* BRICS
Introduction
BRICS represents the first important non-Western global initiative in the post-Cold War world. It brings together five major emerging powers located in different parts of the world — Brazil, Russia, India, China, and South Africa, with the first letter in their names making up the acronym BRICS. In fact, the BRICS grouping can be called the R-5, after the names of its members’ currencies — the real, ruble, rupee, renminbi, and rand. * History
The foreign ministers of the initial four BRIC states (Brazil, Russia, India, and China) met in New York City in September 2006, beginning a series of high-level meetings. A full-scale diplomatic meeting was held in Yekaterinburg, Russia, on May 16, 2008. * First summit
The BRIC grouping 's first formal summit commenced in Yekaterinburg on June 16, 2009, with Luiz Inácio Lula da Silva, Dmitry Medvedev, Manmohan Singh, and Hu Jintao, the respective leaders of Brazil, Russia, India and China, all attending. The summit 's focus was on means of improving the global economic situation and reforming financial institutions, and discussed how the four countries could better co-operate in the future. There was further discussion of ways that developing countries, such as the BRIC members, could become more involved in global affairs.
According to Forbes, "The general consensus is that the term was first prominently used in a Goldman Sachs report from 2003, which speculated that by 2050 these four economies would be wealthier than most of the current major economic powers."
* Entry of South Africa
In March 2012, South Africa appeared to join BRIC, which thus became BRICS. At that time, Brazil, Russia, India, China and South Africa met in India to discuss the formation of a development bank to pool resources. At that point, the BRIC countries were responsible for about 18% of the world 's Gross Domestic Product and were home to 40% of the earth 's population.
* BRICS
References: http://geography.about.com/od/geographyglossaryb/g/ggbric.html http://english.peopledaily.com.cn/90001/90780/91343/7331522.html http://theviewspaper.net/the-rise-and-fall-of-the-brics http://pambazuka.org/en/category/features/81471 http://www.livemint.com/2012/03/30002603/BRICS-pushes-hard-for-a-new-gl.html