BRICS
BRICS
BRICS (pronounced /ˈbrɪks/) is an acronym that refers to the countries of Brazil, Russia, India, China and South Africa which are all deemed to be at a similar stage of newly advanced economic development.
Etymology
The term was coined by economist Jim O'Neill in a 2001 paper entitled "Building Better Global Economic BRICs". The acronym originally did not include South Africa, and was referred to as "BRIC". South Africa was added to the group in 2010, resulting in the acronym "BRICS".
Related Terms
- Emerging Markets: A term used to describe a country's social or business activity in the process of rapid growth and industrialization. All BRICS countries are considered emerging markets.
- Economic Development: The process by which a nation improves the economic, political, and social well-being of its people. BRICS countries are considered to be at a similar stage of newly advanced economic development.
- Globalization: The process of interaction and integration among people, companies, and governments worldwide. BRICS plays a significant role in the process of globalization.
See Also
External links
- Medical encyclopedia article on BRICS
- Wikipedia's article - BRICS
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