1 How did the idea of Brics take shape?
The idea of Brics gained prominence in the early noughties when Goldman Sachs economist Jim O'Neill coined the term to refer to major developing economies that he said would grow to dominate the global economy. The leaders of Brazil, Russia, India, and China met as part of the new grouping in 2009. South Africa was added in 2010. The grouping is mainly known for backing the reform of multilateral institutions to allow greater representation among major developing countries. Brics was seen as a grouping of major, nonWestern powers coming together to articulate their interests..
2 Is Brics still relevant?
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