Summary Box: South Africa’s leader says wants to join informal BRIC group of emerging nations

By AP
Wednesday, August 25, 2010

Summary Box: South Africa wants to join BRIC group

IN THE CLUB: South Africa is pushing for membership in BRIC to raise its political and economic clout. The informal grouping of major developing nations including Brazil, Russia, India and China has growing global influence.

WHAT IT IS: The four nations work to boost trade with each other and have called for developing countries to have a bigger role in major global financial decisions, mainly within institutions such as the International Monetary Fund.

WHY IT MATTERS: Some analysts expect the combined BRIC economies to be larger than the Group of Seven developed economies that include the U.S. within 25 years if not sooner, making them the dominant global force in everything from trade to finance.

YOUR VIEW POINT
NAME : (REQUIRED)
MAIL : (REQUIRED)
will not be displayed
WEBSITE : (OPTIONAL)
YOUR
COMMENT :