BRICS

association of Brazil, Russia, India, China and South Africa

BRICS is used to talk about the countries of Brazil, Russia, India, China and South Africa. Many economists think that all these countries are at a similar stage of economic development. When people write about these countries, they usually write "BRICS" or the "BRICS countries".

Brazil, Russia, India, China, South Africa
Map of BRIC countries

BRICS

Federative Republic of Brazil
President (head of state and government): Jair Bolsonaro
Russian Federation
President (head of state): Vladimir Putin
Prime Minister (head of government): Dmitry Medvedev
Republic of India
President (head of state): Ram Nath Kovind
Prime Minister (head of government): Narendra Modi
People's Republic of China
President (head of state): Xi Jinping
Premier (head of government): Li Keqiang
Republic of South Africa
President (head of state): Cyril Ramaphosa

The acronym was invented by Jim O'Neill, an economist who worked for Goldman Sachs. In 2001, he wrote an article that he called "Building Better Global Economic BRICs".[1][2][3]

Mexico and South Korea were the only other countries with economies that are like the BRICs. But O'Neill did not include these countries because they were considered already more developed, as they were already members of the OECD.[4]

Current leadersEdit


ReferencesEdit

  1. Kowitt, Beth (2009-06-17). "For Mr. BRIC, nations meeting a milestone". CNNMoney.com. Retrieved 2009-06-18.
  2. Global Economics Paper No. 99, Dreaming with BRICs and Global Economics Paper 134, How Solid Are the BRICs?
  3. Economist's Another BRIC in the wall 2008 article
  4. "How Solid are the BRICs?" (PDF). Global Economics. Retrieved 2010-09-21.

BibliographyEdit