BRIC

BRIC, an acronym, is coined by Goldman Sachs & consists of Brazil, Russia, India and China.

The BRIC countries are home to 40 per cent of humanity, three times as many as the G-8. Their combined gross domestic product (GDP), measured in purchasing power, is only half of that of the G-8 and is expected to overtake it by 2020.

Sustainable development of the global economy in the long-term perspective, as well as finding solutions to the acute global problems of our time, such as poverty, hunger and diseases, are only possible if due account is taken of the interests of all nations and within a just global economic system.