BRIC countries refer to Brazil, the Russian Federation, India and China, and they are expected to replace the Group of Seven as the world's largest economy in a few decades. This abbreviation comes from the homonym (meaning "brick") of the initials BRICs (Brazil, Russian, Indian and China) of the English names of these four countries. It is generally believed that this concept was first put forward by a research report of Goldman Sachs Investment Bank and was widely discussed. The main point of this 2003 report is that the economies of BRIC countries are developing rapidly and will surpass most of the richest countries in the world by 2050. In addition, the concept of BRIC is sometimes used to define the rumored trade and cooperation agreement signed by these four countries in 2002. In fact, because the research report of Goldman Sachs is widely accepted, the concept of BRIC is widely used to define the market composed of these four countries, and even more generally to define all newly industrialized countries.

It is generally believed that the concept of BRIC was first put forward by Goldman Sachs. On June 5438+ 10, 2003, Goldman Sachs published a global economic report entitled "Dream with the BRICS".

The report predicts that by 2050, the world economic structure will be drastically reshuffled, and the world's six new economies will become China, the United States, India, Japan, Brazil and Russia.

International public opinion believes that among the BRIC countries, China's economic development is the most prominent. Over the past 30 years of reform and opening up, China's economy has grown at an average annual rate of over 9%. Since 1990s, India, Russia and Brazil have carried out economic reforms according to their national conditions since the new century. In recent years, the economic growth rate of Russia and India is around 6%, while that of Brazil is between 3% and 4.9%, both higher than the average level of western countries and the world.