The BRICS countries are five developing countries with the greatest development potential in the world. Among them, China and India have maintained a high economic growth rate in the past 10 years, and are also the two developing countries with the largest GDP.
In terms of GDP, the order of BRICS countries is: China, India, Brazil, Russia and South Africa. Among them, China has the highest economic aggregate, accounting for nearly 70% of the total GDP of BRICS countries, while South Africa has the smallest economy, which is about equivalent to the GDP of Shenzhen, China.
Background of the establishment of BRICS countries
In 200 1 year, Goldman Sachs first put forward the concept of BRIC, which was abbreviated from the English names of Brazil, Russian, Indian and China. Because the spelling and pronunciation of "brick" are similar to the English word "brick", China media and scholars translated it into BRICS countries.
From June 5438 to 10, 2003, Goldman Sachs published a global economic report entitled "Dream with the BRICS". The report predicts that by 2050, the world economic structure will be drastically reshuffled, and the world's six new economies will become China, the United States, India, Japan, Brazil and Russia. The term BRIC was first put forward by Jim O 'Neill of Goldman Sachs in 200 1 year.