)+[a-zA-Z]{2,}))/; In his paper, O'Neill argued that since the four BRIC countries were developing rapidly, by 2050 their combined economies could eclipse all the economies of the richest countries in the world. Brazil, Russia, India, Mexico and China. Recently, however, serious problems have emerged, including the Petrobras scandal. return unescape(document.cookie.substring(cStart, cEnd)); const EEA_REGION_COUNTRY_CODES = ['AT', 'BE', 'BG', 'HR', 'CY', 'CZ', 'DK', 'EE', 'FI', 'FR', 'DE', 'GR', 'HU', 'IS', 'IE', 'IT', 'LV', 'LI', 'LT', 'LU', 'MT', 'NL', 'NO', 'PL', 'PT', 'RO', 'SK', 'SI', 'ES', 'SE', 'CH', 'TR', 'GB']; (t&&t instanceof Function&&t.apply&&!t[a])}var o=t("ee"),i=t(22),a="nr@original",s=Object.prototype.hasOwnProperty,c=!1;e.exports=function(t,e){function n(t,e,n,o){function nrWrapper(){var r,a,s,c;try{a=this,r=i(arguments),s="function"==typeof n?n(r,a):n||{}}catch(f){p([f,"",[r,a,o],s])}u(e+"start",[r,a,o],s);try{return c=t.apply(a,r)}catch(d){throw u(e+"err",[r,a,d],s),d}finally{u(e+"end",[r,a,c],s)}}return r(t)?t:(e||(e=""),nrWrapper[a]=t,d(t,nrWrapper),nrWrapper)}function f(t,e,o,i){o||(o="");var a,s,c,f="-"===o.charAt(0);for(c=0;c 0) { The Goldman Sachs theory isn't that these countries are a political alliance—like the European Union—but that they have the potential to become a powerful economic bloc. mps._queue.mpsloaded.push(function(){ After the turn of the century, the country enjoyed impressive economic growth. Data is a real-time snapshot *Data is delayed at least 15 minutes. GDP – real growth rate: 7.8 percent (2012), 9.3 percent (2011), and 10.4 percent (2010). But there have been agreements between some of the BRICs. Imports: $503.5 billion (2012 estimate) Defense budget: 1.8 percent of GDP (2012). } Foundation & Purpose of BRICS })(); mps._queue.adclone = mps._queue.adclone || []; In fact, the two economies are smaller today than four years ago. 'is_sponsored' : '0' , The BRICS countries (Brazil, Russia, India, China, and South Africa) are projected to remain the main drivers of growth in the world economy by 2030. South Africa is the largest energy producer and consumer on the African continent. BRIC countries are among the most powerful countries in the world. Public debt: 31.7% of GDP (2012 estimate) The BRICS contribution to world poverty reduction has been sizeable. 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Hiding behind the obscure title are some of the world's fastest growing and potentially largest economies - Brazil, Russia, India and China. The economies of China and India grew at double-digit rates prior to the financial crisis. A Division of NBCUniversal. window.location.href = `/opt-in-check?pub_referrer=${encodeURIComponent(url)}`; Presidents of the group of major emerging economies - Brazil, Russia, India, China and South Africa (BRICS) are meeting in Brazil’s capital this Wednesday for their 11th annual summit. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. for (var i in mps.response.dart.adunits) { CONTENT_SELECTION_AND_MEASUREMENT: 7, In other words, it’s a term used to define and group together the world’s leading emerging economies. '); External debt: $378.9 billion (31 December 2012 estimate) According to Goldman Sachs, the four BRIC countries will have tremendously large GDPs by the year 2050. Of the five BRIC countries, China is said to have the strongest economy, which is actually larger than that of the four other BRIC economies combined. Russia, too, has great repositories of oil, along with coal and natural gas. return '
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