Brazil, Russia, India and China (BRIC)

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Definition of 'Brazil, Russia, India and China (BRIC)'

The BRIC countries are Brazil, Russia, India, and China. The term was coined by Jim O'Neill, then chief economist at Goldman Sachs, in a 2001 paper. O'Neill argued that these four countries would become major economic powers in the 2000s and beyond.

Brazil is the largest country in South America and the eighth-largest country in the world by land area. It has a population of over 210 million people and is a major producer of agricultural products, minerals, and manufactured goods. Russia is the largest country in the world by land area and the ninth-largest country in the world by population. It has a population of over 144 million people and is a major producer of oil, natural gas, and metals. India is the second-most populous country in the world with a population of over 1.3 billion people. It is a major producer of agricultural products, textiles, and software. China is the most populous country in the world with a population of over 1.4 billion people. It is a major producer of manufactured goods, agricultural products, and minerals.

The BRIC countries are often seen as a potential counterweight to the United States and the European Union. They are all large, rapidly growing economies with a young and growing population. They are also all major exporters of commodities, which gives them a strong bargaining position with the developed world.

The BRIC countries have been the subject of much debate in recent years. Some analysts believe that they will become the dominant economic powers in the 21st century. Others believe that they will face a number of challenges, such as rising inequality, environmental degradation, and political instability.

Only time will tell whether the BRIC countries will live up to their potential. However, they are clearly an important part of the global economy and their future development will have a significant impact on the world.

Here are some additional details about the BRIC countries:

* Brazil is a member of the G20 and the BRICS. It is also a member of the Organization of Petroleum Exporting Countries (OPEC).
* Russia is a member of the G20 and the BRICS. It is also a member of the Shanghai Cooperation Organization (SCO).
* India is a member of the G20 and the BRICS. It is also a member of the South Asian Association for Regional Cooperation (SAARC).
* China is a member of the G20 and the BRICS. It is also a member of the Shanghai Cooperation Organization (SCO) and the Asia-Pacific Economic Cooperation (APEC).

The BRIC countries are all important players in the global economy. They are large, rapidly growing economies with a young and growing population. They are also all major exporters of commodities, which gives them a strong bargaining position with the developed world. The future development of the BRIC countries will have a significant impact on the world.

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