Participating countries of BRICS are China, Russia, India, South Africa, Brazil and Russia. BRICS is a meeting held by Brazil, Russian Federation, Indian Federation, South Africa and China. The traditional BRIC countries quoted the English initials of Brazil, Russian, Indian and China.
Because this word is similar to the brick of English words, it is called "BRIC". After South Africa joined, its English word has become "BRICS" and changed its name to "BRICS". BRICS countries not only attract worldwide attention because of their economic scale and vitality, but also play an increasingly important role in the global governance agenda as the beneficiaries of the last round of globalization and the top students of late-developing countries.
Significance of BRICS Meeting
The BRICS conference has gradually formed the BRICS cooperation mechanism. As the representative of the emerging economies in the world, the BRIC countries are also increasing their international influence. According to the International Economic Outlook released by the International Monetary Fund in June 20 10, according to the market exchange rate, the total GDP of BRIC countries rose from 15% of the world share in 2008 to 22% in 20 15. The total economic output of the four countries surpassed that of the United States, and the GDP growth of the four countries also accounted for the world increase.
With South Africa's accession, BRIC countries have become history, and a more broadly representative BRIC country has stepped onto the international stage. With the maturity of BRICS cooperation mechanism, more emerging economies may join in the future, and BRICS countries with greatly increased weight will play a more important role in international political and economic affairs.
BRICS countries not only attract worldwide attention because of their economic scale and vitality, but also play an increasingly important role in the global governance agenda as the beneficiaries of the last round of globalization and the top students of late-developing countries. Therefore, in a sense, it is justified for BRICS countries to return to globalization, and it also meets the expectations of people who want to continue to promote the globalization process.
The above contents refer to Baidu Encyclopedia-BRICS Summit.