BRIC

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Brazil, Russia, India, China
Map of BRIC countries

BRICs

Federative Republic of Brazil
President (head of state and government): Dilma Rousseff
Russian Federation
President (head of state): Vladimir Putin
Prime Minister (head of government): Dmitry Medvedev
Republic of India
President (head of state): Pratibha Patil
Prime Minister (head of government): Manmohan Singh
People's Republic of China
President (head of state): Hu Jintao
Premier (head of government): Wen Jiabao

BRIC is used to talk about the countries of Brazil, Russia, India and China. Many economists think that all these countries are at a similar stage of economic development. When people write about these countries, they usually write "BRICs" or the "BRIC countries".

The acronym was invented by Jim O'Neill, an economist who worked for Goldman Sachs. In 2001, he wrote an article that he called "Building Better Global Economic BRICs".[1][2][3]

Mexico and South Korea were the only other countries with economies that are like the BRICs. But O'Neill did not include these countries because they were considered already more developed, as they were already members of the OECD.[4]


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