BRICS

Presented by Sushil Yadav

 In economics, BRICS is a grouping acronym that refers to the founding member countries Brazil, Russia, India, China. In 2011, South Africa joined as a full member, after having been invited as a guest to the 2010 summit. The founding members in particular, and South Africa's latest addition, are all deemed to be at a similar stage of emerging market status due to its economic development. It is typically rendered as "the BRICS" or "the BRICS countries" or alternatively as the "Big Five." On April 13, 2011 the 'S' was formally added to BRIC to form BRICS with the admission of South Africa into the union.[1][2][3] The acronym "originally BRIC" was coined by Jim O'Neill in a 2001 paper entitled "Building Better Global Economic BRICs".[4][5][6] The acronym has come into widespread use as a symbol of the shift in global economic power away from the developed G7 economies towards the developing world.

Predictions
The list of 22 selected countries by nominal GDP from year 2006 to 2050: BRICs, G7 and Next Eleven. The bottom chart list the same 22 countries by nominal GDP per capita. BRIC countries are highlighted and labeled in bold. Rank 2006: Number 1 to 15 are G20 countries. Five other countries of G20 not in the list are: Argentina, Australia, Saudi Arabia, South Africa and European Union. Number 1 to 8 are G7 (top 7) countries, except China. Since 2027 China will surpass USA. Rank 2050: Top5 countries are: 1.China, 2.USA, 3.India, 4.Brazil, 5.Mexico (All 3 BRIC countries plus USA and Mexico). G7 countries at 2006 which not include in Top5 2050 countries are: Japan (8), Germany (10), United Kingdom (9), France (12), Italy (18) and Canada (16). So only USA from G7 2006 will be one of the Top 5 countries in 2050. Figures reflect data published in 2007.