BRICS

The BRICS countries are an association of emerging economies. The acronym " BRICS " stands for the initials of the five countries: Brazil, Russia, India, China and South Africa. The composition is almost identical to that of the O5 countries with which Mexico is counted rather than Russia.

History

The acronym BRIC was by Jim O'Neill, chief economist of the bank Goldman Sachs, embossed, which she used in a number of publications, first in late 2001. He also created the idea of ​​the Next Eleven comes as a " successor " of the BRICS countries. These five emerging countries, have annual growth rates in economic output of 5 to 10% (compared to EU about 2%), which is why some forecasts predict that they could outflank the G8 countries in 2050.

On 23 December 2010 South Africa received officially by the BRIC countries China, after consultation with the other States an invitation to this grouping. 14 April 2011 South Africa first participated as a member in the annual meeting of the group of states that henceforth called BRICS.

About 40 % of the world population, 3 billion people, live in the BRICS countries. Their share of global gross domestic product was about 22 % in 2008.

• Brazil Brazil: raw material supplier and great agricultural potential for soft (eg, orange juice) and hard (eg iron ore ) commodities (English trade goods / raw materials)
• Russia Russia: vast stocks of oil and especially natural gas, many industrial facilities from Soviet times
• India India: "think tank" (Software Products and Others from Bangalore ) and the largest generic drug manufacturer in the world, incipient industrialization
• People's Republic of China People's Republic of China: " workshop of the world ", more and more innovations, low wages and huge domestic consumption (about 800 million potential buyers)
• South Africa South Africa: "gateway to the African continent "

Due to the economic stagnation in the industrialized nations, the focus of investors has turned to the so-called BRICS countries, so that more lately financial products are issued to these, such as funds, certificates etc.

Summit

Alternative designs

Occasionally, the BRIC countries will be expanded by the addition of South Korea / Korea to the so-called BRICK countries. Because South Korea is indeed already a developed industrial country, but nevertheless achieved high growth rates.

Far rarer is meant by the "K" in BRICK Kazakhstan. Reason to do so, should increase Kazakhstan, enter its growing importance as an energy supplier and its location between the "classical" BRIC countries, Russia, China and India, whereby the Eurasian- Pacific perspective of emerging markets come to the fore. (Where Brazil is omitted, is RICK countries mentioned. )

Other variants are:

• BRIICS for the countries of Brazil, Russia, India, Indonesia, China and South Africa
• BRIKT for the countries of Brazil, Russia, India, Korea and Turkey
• BRICSAM for Brazil, Russia, India, China, South Africa, the ASEAN countries and Mexico