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bricat
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There are 6 letters in BRICAT ( A1B3C3I1R1T1 )
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In economics, BRIC is a grouping acronym that refers to the countries of Brazil, Russia, India and China, which are all deemed to be at a similar stage of newly advanced economic development. It is typically rendered as "the BRICs" or "the BRIC countries" or "the BRIC economies" or alternatively as the "Big Four". A related acronym, BRICS, adds South Africa. * There are arguments that Indonesia should be included into grouping, effectively turning it into BRIIC or BRIICS.Previously BRIC was coined by Jim O'Neill in 2001 as an acronym of four countries that were all deemed to be at a similar stage of newly advanced economic development, but in 2009 the leaders of BRIC countries made the first summit and in 2010 BRIC became a formal institution. South Africa began efforts to join the BRIC grouping and on December 24, 2010, was invited to join BRICS. The original aim of BRIC was the establishment of an equitable, democratic and multi-polar world order, but later BRIC became a political organization, especially after South Africa joined. Jim O'Neill, told the summit that South Africa, at a population of under 50 million people, was just too small as an economy to join the BRIC ranks.But the future of BRIC as an economy group is questionable. In 2012, a book with the title Breakout Nations mentioned that it is hard to sustain rapid growth for more than a decade. |