Skip to main content

Trump's America Rejects You. Embrace to BRICS to Teach Him a Lesson


BRICS is the acronym for an association of five major emerging national economies: Brazil, Russia, India, China and South Africa.

Originally the first four were grouped as "BRIC" (or "the BRICs"), before the induction of South Africa in 2010. The BRICS members are all leading developing or newly industrialized countries, but they are distinguished by their large, sometimes fast-growing economies and significant influence on regional affairs; all five are G-20 members. 

Since 2009, the BRICS nations have met annually at formal summits. China will host the 9th BRICS summit in Xiamen in September 2017. The term does not include countries such as South Korea, Mexico and Turkey for which other acronyms and group associations were later created.

As of 2015, the five BRICS countries represent over 3.6 billion people, or half of the world population; all five members are in the top 25 of the world by population, and four are in the top 10. 

The five nations have a combined nominal GDP of US$16.6 trillion, equivalent to approximately 22% of the gross world product, combined GDP (PPP) of around US$37 trillion and an estimated US$4 trillion in combined foreign reserves. 

Overall the BRICS are forecasted to expand 4.6% in 2016, from an estimated growth of 3.9% in 2015. The World bank expects BRICS growth to pick up to 5.3% in 2017. The BRICS have received both praise and criticism from numerous commentators. Bilateral relations among BRICS nations have mainly been conducted on the basis of non-interference, equality, and mutual benefit.

Popular posts from this blog

Factors of Production and their Rewards

Type Definition Reward Land Labour Capital Enterprise All natural resources The physical and mental works of people All man made tools and machines All managers and organizers Rent Salary/Wage Interest Profit/Loss

Factors Affecting Geographical Mobility of Labour

Geographical Mobility of Labour refers to the movement of workers from one place to another place.  It depends upon; ·     cost of housing ·     cost of relocation ·     availability of social amenities ·     family ties etc

Common Barriers to Occupational Mobility of Labour

Barriers to Occupational Mobility of Labour ·     Lack of natural abilities ·     Lack of qualification ·     Cost and length of training ·     Discrimination ·     Ignorance of available job opportunities Ways to increase Occupational Mobility of Labour ·     By providing training and retraining ·     By organizing job centers