The correct answer is South Korea. South Korea is not a member of BRICS. BRICS started in 2001 as BRIC, an acronym coined by Goldman Sachs for Brazil, Russia, India, and China. South Africa joined the group in the year 2010.
Key TakeawaysBRIC is an acronym that was coined by Goldman Sachs economist Jim O'Neill for the economic bloc of developing countries of Brazil, Russia, India, and China.Economists believed that these four nations would become dominant suppliers of manufactured goods, services, and raw material by 2050.More items...
Detailed Solution. The correct answer is Canada. BRICS is the acronym inscribed to accessary five major emerging economies: Brazil, Russia, India, China, and South Africa. BRICS comprises such nations which are the fastest developing nations in the globe.
BRICS is an acronym for Brazil, Russia, India, China, and South Africa. Goldman Sachs economist Jim O'Neill coined the term BRIC (without South Africa) in 2001, claiming that by 2050 the four BRIC economies would come to dominate the global economy by 2050. South Africa was added to the list in 2010.
South Africa joined the important bloc of emerging economies in December 2010, in line with the country's foreign policy to strengthen South-South relations.
BRICS is the acronym coined to associate five major emerging economies: Brazil, Russia, India, China (PRC), and South Africa.
The correct answer is: India's workforce is highly skilled, particularly in technology. Which of these is NOT one of the BRIC countries? The BRIC countries are Brazil, Russia, India, and China.
It is the world's largest coffee producer. Under former president Lula Da Silva, Brazil enjoyed a healthy growth rate, so much so that it made the exclusive Goldman Sachs club of BRICS (Brazil, Russia, India, China, South Africa), an acronym for the fast-growing emerging market countries.
An active participation in BRICS by South Africa can assist Africa's biggest economy to boost growth and its historical ties with India since the pre-independence days would be mutually complementary.
Understanding BRIC O'Neill grouped these nations together because they had the potential to form an influential economic bloc, not because they had any existing political alliance or formal trading association. However, the nations began a series of annual international relations summits in 2009.
BRICS countries are very different — both in terms of their resources and in terms of their values and goals. The only thing they all have in common is, well, membership of BRICS. Brazil and India are democratic, China and Russia are not. Brazil and Russia export hydrocarbons, China and India are net importers.
5 BRICS countriesThe 5 BRICS countries The BRICS countries are an association of Brazil, Russia, India, China and South Africa. The abbreviation consists of the initial letters of the country names. This refers to a group of the 5 countries (initially without South Africa), which belong to the emerging economies.