The Basics of BRICS

BRICS, initially an acronym, has evolved into a significant global entity with countries from four continents. Coined by Jim O'Neill in 2001, it highlights the rapid growth of emerging economies. The group's expansion in 2010 included Africa, contributing to a substantial portion of global GDP and trade. Despite challenges in reaching agreements, over 40 countries, many African, are interested in joining. BRICS aims to boost the Global South's influence in institutions like the UN, seeking greater voting rights in the IMF and World Bank. The group's growth rates are expected to surpass the G7, emphasizing its future importance in a multipolar world.

Who coined the term BRICS and in what year?

What challenges does BRICS face in producing agreements at its annual gatherings?

What is the significance of the BRICS nations in relation to Africa?

What percentage of the world's population does BRICS account for?

Why do some believe this year's BRICS summit could be critical for the future of the group?