parseInt(categoryPreference.split(':')[0], 10)); During the first years of this century, the BRIC countries’ economies were growing rapidly. In fact, everybody pointed to BRIC as the nations that would soon become advanced economies. Recently, however, serious problems have emerged, including the Petrobras scandal. BRIC Market Research Reports Analysis and Trends BRIC is an acronym that refers to the countries of Brazil, Russia, India and China, which are all considered to be at a similar stage of newly advanced economic development. Of the five BRIC countries, China is said to have the strongest economy, which is actually larger than that of the four other BRIC economies combined. (t&&t instanceof Function&&t.apply&&!t[a])}var o=t("ee"),i=t(22),a="nr@original",s=Object.prototype.hasOwnProperty,c=!1;e.exports=function(t,e){function n(t,e,n,o){function nrWrapper(){var r,a,s,c;try{a=this,r=i(arguments),s="function"==typeof n?n(r,a):n||{}}catch(f){p([f,"",[r,a,o],s])}u(e+"start",[r,a,o],s);try{return c=t.apply(a,r)}catch(d){throw u(e+"err",[r,a,d],s),d}finally{u(e+"end",[r,a,c],s)}}return r(t)?t:(e||(e=""),nrWrapper[a]=t,d(t,nrWrapper),nrWrapper)}function f(t,e,o,i){o||(o="");var a,s,c,f="-"===o.charAt(0);for(c=0;c So what does BRICs stand for? ("undefined"!=typeof FormData&&t instanceof FormData))try{return JSON.stringify(t).length}catch(e){return}}}},{}],19:[function(t,e,n){var r=0,o=navigator.userAgent.match(/Firefox[\/\s](\d+\.\d+)/);o&&(r=+o[1]),e.exports=r},{}],20:[function(t,e,n){function r(t,e){if(!o)return!1;if(t!==o)return!1;if(!e)return!0;if(!i)return!1;for(var n=i.split("."),r=e.split(". mps.__timer = Date.now ? But, it was actually coined by Roopa Purushothaman who was a Research Assistant in the original report. The BRICS acronym has come to be used as a symbol of the shift in global economic power away from the developed G7 economies—like the U.S.—and toward the developing world. Tomas Krieger, Head of Commerzbank in Latin America, and Alexander Rost, Head of Commerzbank’s business in the Indian subcontinent and in ASEAN countries, are convinced this is the case. 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. }).catch(() => {}); Imports: $1.653 billion (2012 estimate) Economists once predicted their combined GDP would be massive by 2050. console.log('PUB-GDPR-CHECK oneTrustCookie: ', oneTrustCookie); And South Africa has a mixed economy with a very high rate of poverty and low GDP per capita. 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The report forecast that the four BRIC economies would be wealthier than most of the current major economic powers. Public debt: 58.8% of GDP (2012 estimate) })(); if (document.cookie.length > 0) { 'cag[type_place]' : 'China|India|Russia|South Africa|Brazil' , 'https' : 'http') + '://pix.nbcuni.com/a-pii.gif?X=piiblock&S=' + mps.pagevars.instance + '&P=' + mps.pagevars.mpsid + '&A=' + i + '&U=' + encodeURIComponent(window.location.href) + '&_=' + window._mpspixZ; The economic slowdown is mainly due to a fall in oil prices. const name = ONE_TRUST_COOKIE_NAME; if (cEnd === -1) { A Division of NBCUniversal. Labor force: 798.5 million (2012 estimate) South Africa became part of the BRIC nations in 2010, turning BRIC into BRICS. Sign up for free newsletters and get more CNBC delivered to your inbox, Get this delivered to your inbox, and more info about our products and services.Â, © 2021 CNBC LLC. 'cag[related_primary]' : '' , 'cag[attribution_source]' : 'CNBC US Source' , var mpscall = { 'is_sponsored' : '0' , mpsload.src = "//" + mpsopts.host + "/fetch/ext/load-" + mpscall.site + ".js?nowrite=2"; console.log('PUB-GDPR-CHECK oneTrustCookie matches: ', matches); )+[a-zA-Z]{2,}))/; Recently, however, serious problems have emerged, including the Petrobras scandal. Brazil, Russia, India, Mexico and China. const OneTrustCategories = { A little over fifty percent of India’s labor force is in the agricultural sector. }); 'cag[attribution_author]' : 'Mark Koba' , return ''; Population growth rate: -0.02% (2013 estimate) let cStart = document.cookie.indexOf(`${name}=`); .map(categoryPreference => parseInt(categoryPreference.split(':')[0], 10)); During the first years of this century, the BRIC countries’ economies were growing rapidly. In fact, everybody pointed to BRIC as the nations that would soon become advanced economies. Recently, however, serious problems have emerged, including the Petrobras scandal. BRIC Market Research Reports Analysis and Trends BRIC is an acronym that refers to the countries of Brazil, Russia, India and China, which are all considered to be at a similar stage of newly advanced economic development. Of the five BRIC countries, China is said to have the strongest economy, which is actually larger than that of the four other BRIC economies combined. (t&&t instanceof Function&&t.apply&&!t[a])}var o=t("ee"),i=t(22),a="nr@original",s=Object.prototype.hasOwnProperty,c=!1;e.exports=function(t,e){function n(t,e,n,o){function nrWrapper(){var r,a,s,c;try{a=this,r=i(arguments),s="function"==typeof n?n(r,a):n||{}}catch(f){p([f,"",[r,a,o],s])}u(e+"start",[r,a,o],s);try{return c=t.apply(a,r)}catch(d){throw u(e+"err",[r,a,d],s),d}finally{u(e+"end",[r,a,c],s)}}return r(t)?t:(e||(e=""),nrWrapper[a]=t,d(t,nrWrapper),nrWrapper)}function f(t,e,o,i){o||(o="");var a,s,c,f="-"===o.charAt(0);for(c=0;c So what does BRICs stand for? ("undefined"!=typeof FormData&&t instanceof FormData))try{return JSON.stringify(t).length}catch(e){return}}}},{}],19:[function(t,e,n){var r=0,o=navigator.userAgent.match(/Firefox[\/\s](\d+\.\d+)/);o&&(r=+o[1]),e.exports=r},{}],20:[function(t,e,n){function r(t,e){if(!o)return!1;if(t!==o)return!1;if(!e)return!0;if(!i)return!1;for(var n=i.split("."),r=e.split(". mps.__timer = Date.now ? But, it was actually coined by Roopa Purushothaman who was a Research Assistant in the original report. The BRICS acronym has come to be used as a symbol of the shift in global economic power away from the developed G7 economies—like the U.S.—and toward the developing world. Tomas Krieger, Head of Commerzbank in Latin America, and Alexander Rost, Head of Commerzbank’s business in the Indian subcontinent and in ASEAN countries, are convinced this is the case. 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. }).catch(() => {}); Imports: $1.653 billion (2012 estimate) Economists once predicted their combined GDP would be massive by 2050. console.log('PUB-GDPR-CHECK oneTrustCookie: ', oneTrustCookie); And South Africa has a mixed economy with a very high rate of poverty and low GDP per capita. 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