Which are the 5 countries that form part of the BRICS alliance?
Show answer & explanation
Correct answer: A
Explanation
Correct Answer
Brazil, Russia, India, China, South Africa
Explanation
The BRICS alliance is an acronym representing five major emerging national economies. The founding group consisted of Brazil, Russia, India, and China, originally termed "BRIC" in 2001 by Goldman Sachs economist Jim O'Neill to highlight their rapid economic growth. The group held its first formal summit in 2009. The acronym officially changed to BRICS in late 2010 when South Africa was formally invited to join the bloc, attending its first summit in 2011. These nations established this cooperative framework to enhance diplomatic coordination, reform international financial institutions, and foster deeper economic and trade collaborations outside traditional Western-dominated global forums.
Key Points
Britain, South Korea, Indonesia, and Belgium are completely independent economies that have never been part of the foundational BRICS acronym or alliance.
The BRICS bloc functions as an influential geopolitical force, collectively representing a substantial percentage of the global landmass, total world population, and global Gross Domestic Product (GDP).
The alliance founded the New Development Bank (NDB), formerly referred to as the BRICS Development Bank, headquartered in Shanghai, China, to mobilize resources for infrastructure and sustainable development projects.
Important Questions and Answers
Question: In which year did South Africa officially join the alliance, transforming the acronym from BRIC to BRICS?
Answer: South Africa was invited to join at the end of 2010 and officially participated in its first summit in 2011.
Question: Where is the permanent headquarters of the New Development Bank (NDB) established by the BRICS nations located?
Answer: The New Development Bank is headquartered in Shanghai, China.