Intergovernmental organization of emerging countries
"Brics" redirects here. For the municipality in Spain, see
Brics, Spain .
BRICS is an intergovernmental organization comprising Brazil , Russia , India , China , South Africa , Iran , Egypt , Ethiopia , and the United Arab Emirates . Originally identified to highlight investment opportunities ,[1] the grouping evolved into a cohesive geopolitical bloc, with their governments meeting annually at formal summits and coordinating multilateral policies since 2009. Bilateral relations among BRICS are conducted mainly on the basis of non-interference, equality, and mutual benefit .[2]
The founding countries of Brazil, Russia, India, and China held the first summit in Yekaterinburg in 2009 , with South Africa joining the bloc a year later.[3] [4] Iran, Egypt, Ethiopia, and the United Arab Emirates joined the organization on 1 January 2024.[5] [6]
Combined, the BRICS members encompass about 30% of the world's land surface and 45% of the global population.[a] Brazil , Russia , India , and China are among the world's ten largest countries by population , area , and gross domestic product (GDP) nominal and by purchasing power parity . All five initial member states are members of the G20 , with a combined nominal GDP of US$28 trillion (about 27% of the gross world product ), a total GDP (PPP) of around US$57 trillion (33% of global GDP PPP), and an estimated US$4.5 trillion in combined foreign reserves (as of 2018).[8] [9]
The BRICS countries are considered the foremost geopolitical rival to the G7 bloc of leading advanced economies, implementing competing initiatives such as the New Development Bank , the BRICS Contingent Reserve Arrangement , the BRICS pay , the BRICS Joint Statistical Publication[10] and the BRICS basket reserve currency.[11]
BRICS has received both praise[12] [13] and criticism[14] [15] [16] from numerous commentators.
^ "Goldman's BRIC Era Ends as Fund Folds After Years of Losses" . Bloomberg . 8 November 2015. Archived from the original on 31 January 2023. Retrieved 10 November 2022 .
^ Gutemberg Pacheco Lopes Junior. "The Sino-Brazilian Principles in a Latin American and BRICS Context: The Case for Comparative Public Budgeting Legal Research; Wisconsin International Law Journal; 13 May 2015" (PDF) . University of Wisconsin Law School . Archived (PDF) from the original on 30 September 2021. Retrieved 7 September 2016 .
^ "What is BRICS, which countries want to join and why?" . Reuters . Archived from the original on 18 November 2023. Retrieved 8 February 2024 .
^ Oliver Stuenkel (2020). The BRICS and the Future of Global Order (2 ed.). Lexington Books. p. 1. ISBN 978-0739193211 .
^ "BRICS expansion: five countries join ranks" . Africa News . 2 January 2024. Archived from the original on 4 January 2024. Retrieved 4 January 2024 .
^ "Iran, UAE, Egypt and Ethiopia join BRICS" . The Jerusalem Post | JPost.com . 3 January 2024. Archived from the original on 3 January 2024. Retrieved 9 January 2024 .
^ "Total Population – Both Sexes" . World Population Prospects, the 2019 Revision . United Nations Department of Economic and Social Affairs, Population Division, Population Estimates and Projections Section. June 2019. Archived from the original on 18 February 2020. Retrieved 17 June 2019 .
^ "Report for Selected Countries and Subjects" . IMF . Archived from the original on 30 April 2023. Retrieved 17 April 2023 .
^ Marquand, Robert (18 October 2011). "Amid BRICS' rise and 'Arab Spring', a new global order forms" . The Christian Science Monitor . Archived from the original on 20 October 2011. Retrieved 20 October 2011 .
^ "BRICS Joint Statistical Publications" . Federal State Statistics Service . Archived from the original on 17 January 2024.
^ Raimondi, Paolo (2 September 2023). "BRICS: The role of the unit of account for the new "basket of currencies" " . India Foundation . Archived from the original on 4 October 2023.
^ "ILO head praises BRICS countries' commitment to social dialogue" . ILO. 3 August 2018. Archived from the original on 25 August 2023. Retrieved 25 August 2023 .
^ Wolff, Richard D. (3 October 2022). "BRICS: the powerful global alliance" . canadiandimension.com . Archived from the original on 25 August 2023. Retrieved 25 August 2023 .
^ Maitra, Sumantra (18 April 2013). "BRICS – India is the biggest loser" . USINPAC. Archived from the original on 28 October 2013. Retrieved 17 June 2013 .
^ Blakeley, Grace (15 February 2023). "BRIC Nationalism Is No Alternative" . Jacobin . Archived from the original on 25 August 2023. Retrieved 25 August 2023 .
^ Coughlin, Con (24 August 2023). "Brics is now a motley crew of failing states" . The Daily Telegraph . ISSN 0307-1235 . Archived from the original on 25 August 2023. Retrieved 25 August 2023 .
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