Concept in Definition ABC

In 2001, the British economist Jim O'Neil coined an acronym that quickly became popular all over the planet, BRICS. They refer to five countries: Brazil, Russia, India, China and South Africa. These nations are not one institution such as the European Union or other similar ones, but rather they represent a bloc of emerging countries that together constitute an alternative to Europe and the United States.

In fact, in recent years the possibility of creating a Bank of the BRICS to face future crisis financial In 2009, the first summit between the representatives of the five nations was held in Russia. In it, the bases were laid to form a strategic alliance similar to others, such as UNASUR or the European Union itself.

What characteristics are common in these nations?

First, these are countries that have significantly increased their GDP in recent years. Second, they all have a high population. In relation to the monetary system, the BRICS agree on the need for the dollar to have less weight in the

finance international On the other hand, despite their evident growth in economic terms, they have notable social inequalities and a series of weaknesses in matters related to human rights and with him environment.

Some analysts consider that the BRICS name does not correspond to the current geopolitical reality

The term devised by Jim O'Neil is already part of the terminology of the globalized world. However, for some experts to speak of the BRICS as a new axis is totally inappropriate. In this sense, other countries could be part of it (for example, Indonesia, Mexico and Turkey have similar characteristics and are not part of the BRICS).

At the same time, the nations that compose it have very different realities from each other (for example, China and Russia have a tradition communist in its recent history, but Brazil, India and South Africa are not).

The countries that make up the BRICS represent an emerging power on the world scene

Its leaders share political and economic goals and are creating mechanisms for cooperation. In the different summits that have been held, the aspirations of peace and cooperation in the world order. However, from other perspectives it is understood that the countries that form it are configuring an anti-Western bloc whose main objective is to replace the dollar as an international currency.

Photos: Fotolia - mantinov / chocolatefather

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