Which bric country is best

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Markets International Markets. South Africa was added in The notion behind the coinage was that the nations' economies would come to collectively dominate global growth by The BRICS nations offered a source of foreign expansion for firms and strong returns for institutional investors.

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What Is a Super Currency? A super currency would replace the U. Partner Links. Related Articles. The main long-term goal of BRICS is to help facilitate a much-needed level of cooperation between the member nations for the purposes of development, to better support various projects, to help provide financial assistance, infrastructure development, and more.

Many of its short-term agenda goals also related to development. The first official summit was held in and featured a short declaration that contained 15 identifiable promises. A few years later, that expanded to about promises. As early as , Goldman Sachs forecasted that China and India would become the first and third largest economies by , with Brazil and Russia capturing the fifth and sixth spots.

The chart below shows a more recent forecast of the world ranking of the biggest economies in the year Click on the image below to view the full-size chart in a separate tab or browser window.

Together, the BRIC countries accounted for 30 percent of the increase in global output during the period. The charts below depict how the increase in the middle class population of the BRIC countries is forecasted to more than double that of the developed G7 economies.