BRICS stand for Brazil, Russia, India, China and South Africa which are simply the reaction of major economic powers like European Union (EU), G-10, International Monetary Fund (IMF) and World Bank (WB). It was the Russian President Vladimir Putin, the brain behind coordinating four original members: Brazil, Russia, India and China (BRIC) for economic prosperity. It is believed to be the logical extension of Shanghai Cooperation Organization, IBSA (India-Brazil-South Africa) Trilateral Forum and G-20. Sometimes the term is also twisted with Gulf Cooperation Council: GCC (Saudi Arabia, Qatar, Kuwait, Bahrain, Oman and UAE), BRICK (K for Korea), BRIMC (M for Mexico&C for Chile) and CIVETs (Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa).
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