In economics, BRIC (typically rendered as "the BRICs" or "the BRIC countries" or known as the "Big Four") is a grouping acronym that refers to the countries of Brazil, Russia, India, and China that are deemed to all be at a similar stage of newly advanced economic development. Despite lagging behind the other members in terms of economic growth, China formally invited South Africa to join the BRICs in 2010, and so the acronym changes from "the BRICs" to "the BRICS". South Africa thus became the first African country to be admitted to BRICS.
Showing posts with label BRIC. Show all posts
Showing posts with label BRIC. Show all posts
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