BRICS is a curious group with no frequent goal

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You can develop the curious group referred to as the BRICS, however you’ll be able to’t outline it. The truth is, it’s hardly even a company: no headquarters, no secretariat. Even the (British) Commonwealth and la Francophonie have extra substance: at the least they share a former oppressor. But the BRICS are increasing.

They’ll now be referred to as the ICARUSEEBIS. Or possibly SEE US BIRICS — they haven’t determined but. However the truth that they couldn’t provide you with something greater than a set of initials within the first place — Brazil, Russia, India, China and South Africa equals BRICS — suggests strongly that they by no means had a shared id or goal.

Why BRICS fairly than CRIBS or SCRIB? As a result of that was the selection of the British economist Jim O’Neill, then chair of Goldman Sachs Asset Administration, when he got here up with the concept in 2001. And he wasn’t creating a world group; he was simply stating an funding alternative.