Globalization & Law
The first summit of the BRIC Group (Brazil, Russia, India, China), will take place in mid-June 2009, in Yekaterinburg, Russia.
According to Wikipedia, the term BRIC is an acronym, which
was first coined and prominently used by the bank holding company Goldman Sachs in 2001. Goldman Sachs argued that, since these states they are developing rapidly, by 2050 the combined economies of the BRICs could eclipse the combined economies of the current richest countries of the world. Goldman Sachs did not argue that the BRICs would organize themselves into an economic bloc, or a formal trading association, like the European Union has done.Read MoreAdd Comment (0)Hits: 139
