What Is Brazil, Russia, India, and China (BRIC)?

What Is Brazil, Russia, India, and China (BRIC)?

BRIC is associate economic data formatting for the developing countries of Brazil, Russia, India, and China. Economists believe these four nations can become dominant suppliers of factory-made product, services and staple by the year 2050. China and India can become the world's dominant suppliers of factory-made product and services, severally, whereas Brazil and Russia can become equally dominant as suppliers of raw materials.

This growth is thanks to lower labor and production prices in these countries. The BRIC data formatting distended to incorporate South Africa because the fifth nation in 2010. several firms conjointly cite BRIC nations as a supply of foreign growth, or foreign direct investment (FDI) opportunities. Foreign business growth happens in countries with promising economies within which to take a position.

KEY TAKEAWAYS

BRIC is associate descriptor for the economic alignment of nations consisting of Brazil, Russia, India, and China.

Economists believe these four nations can become dominant suppliers of factory-made product, services and staple by 2050.