Tag: global economy

BRICS Summit – About time to be taken seriously?

BRICS Summit – About time to be taken seriously?

Financial Markets Explained
The fourth annual BRICS summit is scheduled to be held in New Delhi, India on the 29th of March. Originally comprising of Brazil, Russia, India and China also known as BRIC an acronymn that was coined by Jim O'Neill from Goldman Sachs in 2001. It was only in 2008 that the BRIC was formally embraced by the four countries after which the first BRIC summit was held in 2009 at Yekaterinburg, Russia. The March 29th BRICS summit is the 4th summit. The previous BRICS summit were held in 2010 in Brasilia, Brazil; and Sanya, China in 2011. South Africa became the latest entrant to what we know today as BRICS. The BRIC bloc was formed as a growing acknowledgement of the shift of the global economy. It is learnt that BRICS account for over 26% of the world's landmass, 42% of the world's population...