Bric report 2010 pdf

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Uploaded by Tabassum Fatima. Document Information click to expand document information Description: brics. Original Title brics. Did you find this document useful? Is this content inappropriate? Report this Document. Description: brics. Flag for inappropriate content. Download now. Save Save brics For Later. Original Title: brics. Related titles. Carousel Previous Carousel Next. China is currently expanding military power that might threaten the United States in military terms.

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The general consensus is that the term was first prominently used in a Goldman Sachs report from , which speculated that by these four economies would be wealthier than most of the current major economic powers. The BRIC thesis posits that China and India will become the world's dominant suppliers of manufactured goods and services, respectively, while Brazil and Russia will become similarly dominant as suppliers of raw materials.

It's important to note that the Goldman Sachs thesis isn't that these countries are a political alliance like the European Union or a formal trading association - but they have the potential to form a powerful economic bloc.

BRIC is now also used as a more generic marketing term to refer to these four emerging economies. Due to lower labor and production costs, many companies also cite BRIC as a source of foreign expansion opportunity. The BRICS members are all developing or newly industrialised countries, but they are distinguished by their large, fast-growing economies and significant influence on regional and global affairs; all five are G members.

A full-scale diplomatic meeting was held in Yekaterinburg, Russia, on 16 May n the aftermath of the Yekaterinburg summit, the BRIC nations announced the need for a new global reserve currency, which would have to be "diversified, stable and predictable".