BRIC or BRICs are terms used to refer to the combination of Brazil, Russia, India, and China. General consensus is that the term was first prominently used in a thesis of the Goldman Sachs investment bank. The main point of this 2003 paper was to argue that the economies of the BRICs are rapidly developing and by the year 2050 will eclipse most of the current richest countries of the world.
Although some political and economist annalists are saying there are important differences when we compare these four countries, Brazil has the lowest growth rate, but it already has a per capita income of more than $5,000, which is two to five times the level of its two Asian counterparts.
Brazil has brought its foreign debt repayments up to schedule since 2002. Since then the economy has generated more than 4.5 million new jobs. Trade surpluses top $40 billion per year. Inflation is low. These facts back up Brazilian President’s recent claim that “this is his country’s magic moment”.
In addition Brazil's growth trajectory depends on economic reforms, inflation and fiscal policy, rather than serious political instability or debt default. That's not the case in the other BRICs.
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