What are the BRIC countries?

"BRIC" comes from the English word BRIC, which refers to Brazil, Russia, India and China, which are combined by the initials of the English names of these four countries, and its pronunciation is the same as that of "bricks" in English. Among them, Brazil is known as the "world raw material base"; Russia is known as the "world gas station"; India is called the "world office"; China is called "the factory of the world".

BRICs icon and introduction

[ Edit this paragraph] The origin of the name

The word BRIC was first proposed by Jim O 'Neill, chief economist of Goldman Sachs Securities Company, in a book entitled "The World Needs Better Economic Brics" published on November 2, 21. In October 23, the company predicted in the global economic report entitled "Dreaming with BRICs: the path to 25" that BRICs would dominate the world economy in 25, including: Brazil will replace Italy's economic position in 225 and surpass France in 231; Russia will surpass Britain in 227 and Germany in 228; If nothing happens, China may surpass the United States in 241 and become the world's largest economic power, and India may surpass Japan in 232; The total GDP of BRICs may surpass that of the six western industrial countries (excluding Canada in G7) in 241. In this way, by 25, the world economic structure will be reshuffled, and the six new global economies will become China, the United States, India, Japan, Brazil and Russia.

This economic report by Goldman Sachs has made China, Indian, Russian and Brazilian countries, as representatives of emerging economies and leaders of developing countries, attract more attention in the world, thus the title of BRICs (translated as "BRIC") has become popular all over the world.

on December 1st, 25, Goldman Sachs released a new report, How Solid Are the BRICs? ) said that BRICs does seem to be making faster progress than other developing countries (big or small). Goldman Sachs adjusted its forecast accordingly: China will surpass the United States in 24 (slightly faster than the forecast in 23), while India will surpass Japan in 233 (slightly slower than the previous forecast because of the improved economic situation in Japan).

With the birth of the new concept of BRIC, South Korean President Roh Moo-hyun (deceased) led hundreds of heavyweight politicians and businessmen to launch BRIC diplomacy. In 25, G7 Finance Ministers' Meeting invited representatives of BRIC countries to attend for the first time. Therefore, the global chessboard of multinational companies such as Toyota Motor Corporation of Japan has been redeployed. Judging from the current situation, the speed of economic development of BRIC countries is just the opposite of the alphabetical order of the word "BRICs", with China far ahead, followed by India and Russia, and Brazil relatively tepid. From a broader perspective, the economic performance of at least the top three countries is enough to stand out from all G7 countries, and the annual "net growth part" of Russia and India can surpass the Netherlands today. According to statistics, Russia's foreign exchange reserves have reached 28 billion US dollars, which has surpassed the sum of EU member states.

From June 14th to 16th, 29, the first meeting of foreign ministers of BRIC countries was held in Yekaterinburg, Russia. During the meeting, the foreign ministers of the four countries held extensive discussions on the international economic and financial situation, energy security and environmental issues, disarmament and non-proliferation of nuclear weapons, international trade and reform of international organizations. After the meeting, the foreign ministers of the BRIC countries will sign a joint statement, indicating the unified position of the four countries on the urgent issues of world development and international security.

Chinese-English dictionary explains

BRIC Countries (Brazil, Russia, India and China)

BRIC countries (Brazil, Russia, India and China)

1. This year, sales of cars in the p>BRICs should be in.

By this year, the number of cars purchased by BRIC countries should be.

2. Brazil, another of the so-called BRICS, was among the small group wanting a deal.

Brazil, another country in the so-called BRIC countries, is one of the few countries that hope to reach an agreement.

3. The plan is mean to capitalise on the higher growth rates in the so-called "BRIC" countries of Brazil, Russia, India and China.

The company's intention is to gain some gains in the rapid growth of the so-called BRIC countries (Brazil, Russia, India and China).

4. thanks in large part to the BRICS, a record 65% of GM's sales in the first quarter were outside America.

thanks to the huge sales in BRIC countries, it accounted for a record 65% of GM's sales in the first quarter, which surpassed the United States.

5. Mature vehicle markets may be close to saturation, but there is huge unsatisfied demand in the big emerging car markets of Brazil, Russia, India and China (the so-called BRICS).

The mature automobile market may be close to saturation, but there is huge unmet demand in the emerging automobile markets of Brazil, Russia, India and China (the so-called BRIC countries).

Research report on BRIC countries

According to the research report of Goldman Sachs, China, Russian Federation, Brazil and India have excellent economic development prospects, and the four countries will rank among the strongest economies in the world in 25. This research report was written by Jim O 'Neill, a global economist at Goldman Sachs. BRIC countries are all important emerging market countries. They share similar views on many international and regional issues. In recent years, their economies have grown rapidly and their international status has been continuously improved. The four countries have unique advantages in terms of area, population, resources and market. The land area of the four countries accounts for 26% of the total territory of the world and the population accounts for 42% of the total population of the world. According to the statistics of China's IMF, the average economic growth rate of the four countries was 1.7% from 26 to 28. All four countries have important influence in international affairs.

It is predicted that these four countries will have more than 4% of the world's population and a GDP of $14.51 trillion. In any way, they will become the largest economic entity in the world. However, it must be pointed out that these four countries are neither a political alliance like the European Union nor a trade alliance like ASEAN. However, the four countries have gradually begun to carry out political cooperation to strengthen their political status, such as influencing the decisions of the United Nations; Or force the United States to make concessions through unwritten political cooperation agreements.

BRIC Dream: The Road to 25 (23)

China, Russia, Brazil and India have changed or are changing their political systems to adapt to global capitalism. Goldman Sachs predicts that China and India will become the world's leading suppliers of manufactured goods and services respectively, while Brazil and Russia will correspondingly become the world's leading suppliers of raw materials. Since Brazil and Russia can provide China and India with the raw materials they need, the logical prediction shows that the BRIC countries will cooperate more extensively. It is predicted that the BRIC countries will be able to form a powerful economic group, thus replacing the status of the current G8. Brazil is rich in soybeans and iron ore, while Russia has extremely rich and abundant oil and gas resources.

as early as the end of the cold war or earlier, all the governments that make up the BRIC countries began economic and political reforms to enable them to enter the world economy. In order to compete, these countries have also emphasized education, introduction of foreign capital, domestic consumption and the development of domestic industries. It is believed that India has the potential to become the fastest developing country among the BRIC countries in the next 3 to 5 years. One of the main reasons is that the decline of working-age population in India and Brazil will be later than that in Russia and China.

Follow-up Report (24)

Following its original BRIC research report in 24, the World Economic Group of Goldman Sachs released a follow-up report. This new report takes the analysis results a step further and focuses on the impact that the economic development of these four countries will bring to the world market. The report estimates that the share of BRIC countries in world economic growth will increase from 2% in 23 to 4% in 225. At the same time, the proportion of their economic aggregate in the world economy will increase from about 1% in 24 to over 2% in 225. Moreover, between 25 and 215, more than 8 million people in these countries will cross the annual income threshold of $3,. It is calculated that in 225, about 2 million people in these countries will earn more than $15, a year. Therefore, the big rebound in market demand will not only affect necessities, but also affect brand products with higher prices. According to the report, China first, and then India in ten years, will surpass the United States to become the world's largest automobile market.

Although the balance of growth rate is decisively active towards the BRIC economies, the level of personal wealth in high-level economic regions will continue to exceed the average BRIC level. Goldman Sachs Securities estimates that by 225, the annual income of G6[1] member countries of the Group of Six will exceed $35,, but only 24 million BRIC residents will have the same income level. The report highlights the large-scale inefficiency of India's energy and strikingly mentions the minimal representation of BRIC countries in the global capital market. The past contradictions highlight the huge population of the BRIC countries, and make the total wealth of the BRIC countries quite easy to eclipse the member regions of the six-nation summit, and at the same time keep the annual income below the benchmark of today's industrial countries. The above phenomenon will continue to affect the global market; As multinational companies try to gain advantages from BRIC countries, such as producing cheap cars and other products that BRIC residents can afford from the huge potential market, they will replace expensive luxury car brands.

China-the country with the center of the world's factories

-China is the most dynamic economic region in the world, with the highest amount of foreign investment, becoming the production base of the largest enterprise group in the world. China, with 1.3 billion residents, is the most populous country in the world. Abundant, cheap and reliable labor force has driven China's economic prosperity. In addition to unparalleled price advantages, the quality of employed people is constantly improving. However, there is also a hidden crisis under the engine of world economic growth. Although the Bank of China has formulated loan restrictions, the hidden danger of overheating has not been eliminated; The huge scissors gap between urban and rural areas and personal income also makes the development unbalanced and endangers social stability; Environmental pollution is getting worse. In addition, the China stock market lacks an independent and effective monitoring mechanism, and the government manipulates the stock market; A series of problems, such as insufficient raw materials and energy, have created bottlenecks for China's economy.

Brazil-the world's raw material base

Brazil's gross national product ranks first in Latin America. Besides the traditional agricultural economy, the production and service industries are booming, and it has a natural advantage in raw material resources. Brazil has the highest reserves of iron, copper, nickel, manganese and bauxite in the world. In addition, emerging industries such as communication and finance are also on the rise. Cardoso, the former president of Brazil and leader of the Workers' Party, formulated a set of economic development strategies, which laid the foundation for the subsequent economic revitalization. This reformed policy was later carried forward by the current President Lula, and its core contents are: introducing a flexible exchange rate system; Reform the medical care and pension system; Streamline the system of government officials. However, some critics believe that Xiao He was defeated and Xiao He was defeated, and corruption and bribery within the Workers' Party constantly shook the ruling foundation of the current government to a great extent. Is the economic take-off on the fertile soil of South America sustainable? The risks behind the opportunities are also enormous. Long-term investors based on the Brazilian market therefore need strong nerves and enough patience.

India-World Office

India is the second most populous democracy in the world, and more than 6, listed companies have also expanded its stock market at an unprecedented scale. In the past 2 years, India's economy has grown steadily at an average annual rate of 5.6%, and behind the economic front, there is a high-quality employment force. According to preliminary statistics, western enterprises are becoming more and more attractive in the eyes of about 23 million college graduates in India. One quarter of the largest 1, companies in the United States use software developed in India. Indian pharmaceutical industry also occupies an important position in the global market. 4% of the world's "generic drugs" (medicines whose patent period has expired) are produced in India. This industry has driven disposable personal income to rise rapidly with a double-digit growth rate. At the same time, a group of middle classes who pay attention to enjoyment and are willing to consume have emerged in Indian society. In addition, some large infrastructure projects, such as the 6-kilometer-long expressway network and the booming export trade, have also provided a strong successor for economic development. Of course, India's economy also has weaknesses that cannot be ignored, such as imperfect infrastructure, high fiscal deficit, and excessive dependence on energy and raw materials. Politically, changes in social ethics and tensions in Kashmir may lead to economic turmoil.

Russia-world gas station

Russia's economy after the financial crisis in 1998 is like a phoenix flying out of the ashes. Among the recent international credit ratings, it was rated as an investment grade by Standard & Poor's, a famous securities research institution. The rise in oil and gas prices has undoubtedly added wings to the Russian economy. The exploitation and production of these two industrial veins control one-fifth of the national production today, and create 5% of the export trade output value and 4% of the national income. In addition, Russia is the largest producer of palladium, platinum and titanium. Similar to the situation in Brazil, the biggest threat to the Russian economy is also hidden in politics. general