United by a Catchy Acronym
BRICs, the now familiar term for Brazil, Russia, India, China and the growth of their economies and influence, have formalized their club and extended their reach by inviting South Africa to join. But do their meetings and joint statements really allow them to punch above their individual weight? What do these countries share beyond a common interest in bolstering their global clout?
The most durable thing about the BRICs is the acronym itself. They cannot be ignored — emerging markets accounted for two-thirds of global economic growth over the past five years, a figure that could rise to as much as 75 percent by 2015.… Seguir leyendo »