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.