The BRIC grouping is shorthand for four countries – Brazil, Russia, India and China – and the BRIC acronym has become popular to describe the growing power and influence of emerging markets in the global economy. The BRICs already have a bigger share of world trade than the USA and China is on the verge of surpassing Japan as the second largest economy in the world.
All four BRIC countries have seen rapid economic growth in recent years with the greatest attention being paid to the super-charged expansion of the Chinese economy. Jim O’Neill from Goldman Sachs is attributed for having created the BRIC idea and in the eight years since he first coined the idea, the increase in the size of these four countries has far exceeded their initial projections
