It has been suggested that this article be merged into BRICS. (Discuss) Proposed since December 2023.
BRIC
Location
Brazil, Russia, India, and China
Type
Foreign investment strategies grouping
Membership
Brazil
Russia
India
China
Area
• Total
38,464,219 km2 (14,851,118 sq mi)
Population
• 2022 estimate
3,157,441,470
GDP (PPP)
2022 estimate
• Total
$49.967 trillion
GDP (nominal)
2022 estimate
• Total
$27.107 trillion
Succeeded by
BRICS
BRIC is a term describing the foreign investment strategies grouping acronym that stands for Brazil, Russia, India, and China. The separate BRICS organisation would go on to become a political and economic organization largely based on such grouping.[1]
The term was first coined by economist Jim O'Neill and later championed by his employer Goldman Sachs in 2001. O'Neill identified the four countries as rising economic powers which were at a similar stage of newly advanced economic development. Goldman Sachs, of which O'Neill was the head of global economics research, would continue reporting and investing in their BRIC fund until 2015.[2] The grouping is typically rendered as "the BRIC", "the BRIC countries", "the BRIC economies", or alternatively as the "Big Four".[3][4][5][6]
The acronym was co-opted by the countries themselves beginning in the late-2000s. The 1st BRIC summit in 2009, which founded the BRICS organisation, was held between the leaders of the four countries, with later summits involving South Africa beginning in 2010.[7][8] O'Neill commented on the 2010 summit by drawing a distinction between his BRIC term and the BRICS organisation, arguing that South Africa was too small as an economy to join the BRIC ranks.[9]
^"New era as South Africa joins BRICS". SouthAfrica.info. Archived from the original on 18 April 2011. Retrieved 19 June 2012.
^Cite error: The named reference Rana Foroohar was invoked but never defined (see the help page).
^O'Neill, Jim (30 November 2001). Building Better Global Economic BRICs, Global Economics Paper No: 66(PDF). Goldman Sachs.
^O'Neill, Jim; Dominic Wilson; Roopa Purushothaman; Anna Stupnytska (1 December 2005). How Solid are the BRICs? Global Economics Paper No: 134(PDF). Goldman Sachs. Retrieved 27 March 2024.
^Dominic Wilson, Roopa Purushothaman (1st October 2003). Dreaming with BRICs. Global Economics Paper No. 99. Goldman Sachs.
^"Another BRIC in the wall". The Economist. 21 April 2008. Archived from the original on 9 February 2015. Retrieved 28 July 2014.
^Halpin, Tony, "Brazil, Russia, India and China form bloc to challenge US dominance" Archived 2 September 2011 at the Wayback Machine, The Times, 17 June 2009.
^Graceffo, Antonio (21 January 2011). "BRIC Becomes BRICS: Changes on the Geopolitical hessboard". Foreign Policy Journal. Archived from the original on 26 January 2011. Retrieved 14 April 2011.
^Reuters 2011 Investment Outlook Summit, London and New York, 6–7 December 2010
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