Brazil, Russia, India and China (BRIC)

Brazil, Russia, India and China (BRIC)

Introduction

The BRIC conglomerate represents the largest and fastest emerging economies in the world. According to figures, these countries account for around 3 billion people, nearly half of world's population. In recent economic contributions, these countries have contributed most in the overall world GDP. According to the forecasts of analysts and economists, China will take over America as the biggest economy is the world. This would happen between 2025 and 2045. According to the reports of Goldman Sachs, these economies will lead the way by the end of 2050, leaving USA at 5th place. These economies should be ranked in top 10 economies of the world, by the end of 2020. China will be the leader amongst them and it will affect internal economy just as USA is affecting it now.

BRIC is an acronym for the grouping of four countries 'emerging' in terms of their weight in the global economy, Brazil, Russia, India and China. This acronym emerged for the first time in 2001 in a report by the U.S. investment bank, Goldman Sachs (not that these countries had previously put together), which reported on economic forecasts of four countries for 2050, a report was completed and enriched in 2004 and 2007, whose central thesis is that these BRIC countries eventually eclipse the most developed economies at present, those of the axis of North America - Western Europe - Japan (countries in the so-called "Triad").

Specifically, the report by Goldman Sachs presented these figures and facts. Representing one quarter of the land surface and 40% of the world population, the BRIC countries in 2008 generated nearly 14% of GDP worldwide. In terms of GDP, China is already the third world economy after the United States and Japan, Russia is ranked 8th, 10th in Brazil and India in the 12th. By 2025, reports Goldman Sachs predict that China will pass the second row, India and Russia moving up to 4th and 6th respectively in the world, exceeding the economic weights of the United Kingdom and France.

By 2050, China would occupy the first rank, the third India and Brazil the fourth. According to analysis from Goldman Sachs, the BRIC countries would not specifically aim or aims to achieve some kind of economic "common market" or European Union, and if the economic growth of these countries could effectively lead to achieve rapid economic weights calculated GDP as they were anticipated for 2050, it is notable that the average living standards per head of the BRIC countries are expected to remain well below those of the countries now "richer".

Structural disparities, demographic, political and economic relations are vital among them. In June 2009, the BRIC countries have given substance to what seemed so far limited to conceptual or theoretical construction taking their first summit in Yekaterinburg, Russia.

Posing as an alternative to the current geopolitical G8 or the major international institutions, the statement after the first summit called for the establishment of a world ...