BRICS is an acronym for an alliance of 5 main rising economies: Brazil, Russia, India, China and South Africa. Jim O’Neill, an economist at Goldman Sachs (NYSE: ), coined the phrase in 2001 to spotlight the mixed potential of those international locations within the world economic system.
BRICS is an off-the-cuff alliance that seeks to advertise cooperation and communication amongst its member states, relatively than a proper group or alliance with a legally binding treaty. Right here is an outline of the historical past, objectives and key facets of the BRICS alliance:
Financial powerhouses
Cooperation and dialogue
Financial cooperation
Improvement financing
Political affect
International governance reform
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