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clipped from en.wikipedia.org
BRIC
BRIC or BRICs are terms used in economics to refer to the combination of Brazil, Russia, India, and China.
The BRIC thesis[6] (defended in the paper Dreaming with BRICs: The Path to 2050) recognizes that Brazil, Russia, India and China[7] have changed their political systems to embrace global capitalism. Goldman Sachs predicts China and India, respectively, to be the dominant global suppliers of manufactured goods and services while Brazil and Russia would become similarly dominant as suppliers of raw materials. Cooperation is thus hypothesized to be a logical next step among the BRICs because Brazil and Russia together form the logical commodity suppliers to India and China.
According to the study, India has the potential to grow the fastest among the four BRIC countries over the next 30 to 50 years. A major reason for this is that the decline in working age population will happen later for India and Brazil than for Russia and China.
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