BRIC countries, because it quoted the English initials of Brazil, Russian, Indian, China and South Africa. Because the word is similar to the English word Brick, it is called "bricks".
BRICS countries account for 26.46% of the world's total territory and 4 1.93% of the world's total population. It is estimated that in 20021year, the total economic output of the five countries will account for about 25.24% of the world, and the total trade volume will account for about 17.9% of the world. In 2022, the voting rights of the five countries in the World Bank were 14.06%, and their total share in the International Monetary Fund was 14. 15%.
The significance of BRICS countries
The formation of the BRICS mechanism is conducive to changing the one-sided imbalance of international governance structure, helping developed countries to invest more resources in production areas such as scientific and technological progress rather than distribution areas, promoting the efficiency of world resource utilization, making the cake of the world economy bigger, distributing it more fairly, and improving the level of world welfare.
The emergence of BRICS countries is the product of the unbalanced development of the world economy, the product of economic globalization and integration, a classic case of economic comprehensive strength competition in human history, and a concrete embodiment of the mode that late-developing countries catch up with developed countries. The emergence of the BRICS mechanism is an epoch-making event, which is of great significance to the formation of a mutually beneficial and win-win world economic order.