Many investors intrigued by potential investing opportunities in the developing world often cast their eyes on BRICS. The term is the acronym for a group of large emerging-market nations: Brazil, Russia, India, China and South Africa.
Others have recently joined the group, constituting an increasing share of the world economy.
What are BRICS?
The original acronym (minus the “S”) was coined in 2001 by Goldman Sachs economist Jim O’Neill to describe an analytical grouping. He recognized that, with their fast-growing economies, the first four countries, Brazil, Russia, India and China, could become an economic bloc rivaling developed markets. The four nations liked the idea of being thought of as a powerful bloc and began to meet informally in 2006.
The group held its first official meeting in 2009 and added South Africa in 2010. Today, the nations work…
