BRICS
The most significant geopolitical realignment most people can't define — and it's still aligning.
How We Say It
briks
Where It Comes From
Initialism for Brazil, Russia, India, China, South Africa. Coined as 'BRIC' in 2001 by Goldman Sachs economist Jim O'Neill to describe four large emerging economies expected to dominate growth. South Africa joined the formal grouping in 2010, adding the S. The bloc has since expanded to include additional members.
How It's Been Used
Began as a financial-analyst shorthand, became a formal political and economic bloc when the countries themselves adopted the label. Holds annual summits since 2009. Promotes alternative financial infrastructure to the dollar-dominated system — the New Development Bank, currency-swap arrangements, discussions of a common settlement mechanism. Increasingly framed as a counterweight to the G7.