BRICS Alliance. Political And Economic Organisation

Abstract

BRICS is an acronym that refers to the member countries of the Political Alliance initiated by Russia, India, China, South Africa and Brazil. The original acronym "BRIC" was coined by Jim O'Neill This acronym came into widespread use as a symbol of the shift in world economic power away from the developed economies towards the developing world, to which was added the "S”, formally, to form BRICS after the admission of South Africa into the  the smallest member in terms of economic influence and population, and which was the first beneficiary of an expansion of the bloc in 2010, when the grouping became known as BRICS. BRICS: B from Brazil, R from Russia, I from India, C from China, S from South Africa. Its creation was initiated by Russia. The bloc, BRICS, was founded at the beginning of this millennium by Brazil, Russia, India and China, and in 2011 South Africa joined as an alternative to the G7. The BRICS group wants to represent a counterweight to the hegemony of Western states, led by the USA.