} Exports: $1.971 trillion (2012 estimate) }; Exports: $242.6 billion (2012 estimate) All Rights Reserved. if (mps._urlContainsEmail()) { BRICS nations are also the members of G-20 group of developing nations. Defense budget: 2.6 percent of GDP (2012). India has emerged as one of the most attractive destination for … } Goldman Sachs argued that, being that they are developing rapidly, by 2050 the combined economies of the BRICs could eclipse the combined economies of the existing richest countries of the world. Public debt: 58.8% of GDP (2012 estimate) In fact, the two economies are smaller today than four years ago. Economists once predicted their combined GDP would be massive by 2050. if (!matches) { Currently, there are no reported formal agreements among all the five countries. } Behind them stand a cohort of new economies aiming to follow their example. 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It is typically rendered as "the BRIC," "the BRIC countries," "the BRIC economies," or alternatively as the "Big Four". (l[h]("DOMContentLoaded",i,!1),p[h]("load",r,!1)):(l[m]("onreadystatechange",o),p[m]("onload",r)),c("mark",["firstbyte",s],null,"api");var E=0,O=t(23)},{}]},{},["loader",2,15,5,3,4]); Labor force: 798.5 million (2012 estimate) var setAdblockerCookie = function(adblocker) { mps._queue.mpsloaded.push(function(){ el.parentNode.insertBefore(s, el); Presidents of the group of major emerging economies - Brazil, Russia, India, China and South Africa (BRICS) are meeting in Brazil’s capital this Wednesday for their 11th annual summit. Even the economies of China and India have been expanding more slowly since the financial crisis than before. 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And South Africa has a mixed economy with a very high rate of poverty and low GDP per capita. GDP – real growth rate: 0.9 percent (2012), 2.7 percent (2011), and 7.5 percent (2010) The BRICS countries (Brazil, Russia, India, China, and South Africa) are projected to remain the main drivers of growth in the world economy by 2030. ; It was formed to encourage cultural, commercial and political operation among BRICS nations. script.setAttribute("onload", "setAdblockerCookie(false);"); Regarding fast-growing economies, what does “BRIC” stand for? window.NREUM||(NREUM={}),__nr_require=function(t,e,n){function r(n){if(!e[n]){var o=e[n]={exports:{}};t[n][0].call(o.exports,function(e){var o=t[n][1][e];return r(o||e)},o,o.exports)}return e[n].exports}if("function"==typeof __nr_require)return __nr_require;for(var o=0;o0&&(l-=1)}),s.on("internal-error",function(t){i("ierr",[t,c.now(),!0])})},{}],3:[function(t,e,n){t("loader").features.ins=!0},{}],4:[function(t,e,n){function r(){M++,N=y.hash,this[u]=g.now()}function o(){M--,y.hash!==N&&i(0,!0);var t=g.now();this[h]=~~this[h]+t-this[u],this[d]=t}function i(t,e){E.emit("newURL",[""+y,e])}function a(t,e){t.on(e,function(){this[e]=g.now()})}var s="-start",c="-end",f="-body",u="fn"+s,d="fn"+c,p="cb"+s,l="cb"+c,h="jsTime",m="fetch",v="addEventListener",w=window,y=w.location,g=t("loader");if(w[v]&&g.xhrWrappable){var b=t(10),x=t(11),E=t(8),O=t(6),P=t(13),R=t(7),T=t(14),L=t(9),j=t("ee"),S=j.get("tracer");t(15),g.features.spa=!0;var N,M=0;j.on(u,r),j.on(p,r),j.on(d,o),j.on(l,o),j.buffer([u,d,"xhr-done","xhr-resolved"]),O.buffer([u]),P.buffer(["setTimeout"+c,"clearTimeout"+s,u]),T.buffer([u,"new-xhr","send-xhr"+s]),R.buffer([m+s,m+"-done",m+f+s,m+f+c]),E.buffer(["newURL"]),b.buffer([u]),x.buffer(["propagate",p,l,"executor-err","resolve"+s]),S.buffer([u,"no-"+u]),L.buffer(["new-jsonp","cb-start","jsonp-error","jsonp-end"]),a(T,"send-xhr"+s),a(j,"xhr-resolved"),a(j,"xhr-done"),a(R,m+s),a(R,m+"-done"),a(L,"new-jsonp"),a(L,"jsonp-end"),a(L,"cb-start"),E.on("pushState-end",i),E.on("replaceState-end",i),w[v]("hashchange",i,!0),w[v]("load",i,!0),w[v]("popstate",function(){i(0,M>1)},!0)}},{}],5:[function(t,e,n){function r(t){}if(window.performance&&window.performance.timing&&window.performance.getEntriesByType){var o=t("ee"),i=t("handle"),a=t(13),s=t(12),c="learResourceTimings",f="addEventListener",u="resourcetimingbufferfull",d="bstResource",p="resource",l="-start",h="-end",m="fn"+l,v="fn"+h,w="bstTimer",y="pushState",g=t("loader");g.features.stn=!0,t(8);var b=NREUM.o.EV;o.on(m,function(t,e){var n=t[0];n instanceof b&&(this.bstStart=g.now())}),o.on(v,function(t,e){var n=t[0];n instanceof b&&i("bst",[n,e,this.bstStart,g.now()])}),a.on(m,function(t,e,n){this.bstStart=g.now(),this.bstType=n}),a.on(v,function(t,e){i(w,[e,this.bstStart,g.now(),this.bstType])}),s.on(m,function(){this.bstStart=g.now()}),s.on(v,function(t,e){i(w,[e,this.bstStart,g.now(),"requestAnimationFrame"])}),o.on(y+l,function(t){this.time=g.now(),this.startPath=location.pathname+location.hash}),o.on(y+h,function(t){i("bstHist",[location.pathname+location.hash,this.startPath,this.time])}),f in window.performance&&(window.performance["c"+c]?window.performance[f](u,function(t){i(d,[window.performance.getEntriesByType(p)]),window.performance["c"+c]()},!1):window.performance[f]("webkit"+u,function(t){i(d,[window.performance.getEntriesByType(p)]),window.performance["webkitC"+c]()},!1)),document[f]("scroll",r,{passive:!0}),document[f]("keypress",r,!1),document[f]("click",r,!1)}},{}],6:[function(t,e,n){function r(t){for(var e=t;e&&!e.hasOwnProperty(u);)e=Object.getPrototypeOf(e);e&&o(e)}function o(t){s.inPlace(t,[u,d],"-",i)}function i(t,e){return t[1]}var a=t("ee").get("events"),s=t(24)(a,!0),c=t("gos"),f=XMLHttpRequest,u="addEventListener",d="removeEventListener";e.exports=a,"getPrototypeOf"in Object? There are political concerns over human right issues in China and Russia that could keep out future investors and slow their economic growth. console.log('PUB-GDPR-CHECK oneTrustCookie: ', oneTrustCookie); But, it was actually coined by Roopa Purushothaman who was a Research Assistant in the original report. Advanced the idea that BRIC economies. According to Fortune magazine columnist Ian Bremmer “Change has come to India, the lone BRIC country that’s worth holding on to.”, Population: 1,220,800,359 (July 2013 estimate) BRIC are the letters that originally stood for these countries: Brazil, Russia, India and China. China is currently the world’s largest exporter. } 'title' : 'BRICS: CNBC Explains' , return ''; BRIC is a grouping acronym referring to the countries of Brazil, Russia, India, and China deemed to be developing countries at a similar stage of newly advanced economic development, on their way to becoming developed countries. After years of a very centralized economy, China is beginning to adopt a much more capitalist, free-market system. After the turn of the century, the country enjoyed impressive economic growth. The Economist stated that a great deceleration could occur. Purchase intention Regarding fast-growing economies, what does "BRIC" stand for? Hiding behind the obscure title are some of the world's fastest growing and potentially largest economies - Brazil, Russia, India and China. console.log('PUB-GDPR-CHECK all blocked. In his paper, O'Neill argued that since the four BRIC countries were developing rapidly, by 2050 their combined economies could eclipse all the economies of the richest countries in the world. So what does BRICs stand for? 'cag[template]' : 'story_simple' , Hannah and Ellen rely on consistent messages received via word of mouth, and are older and more conservative than other customers of Product X. Hannah and Ellen most likely fall into which of the following categories? Population growth rate: 1.28% (2013 estimate) 'cag[attribution_source]' : 'CNBC US Source' , "),a=0;a
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