10 facts about BRICS

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(170902) – XIAMEN, Sept. 2, 2017 (Xinhua) – Photo taken on Aug. 26, 2017 shows the scenery of Xiamen International Conference and Exhibition Centre and its surrounding area in Xiamen, southeast China's Fujian Province. The 9th BRICS Summit will be held in Xiamen on Sept. 3-5. (Xinhua/Jiang Kehong) (wyl)

Published: 11:23am, 3 Sep 2017Updated: 11:23am, 3 Sep 2017

1. An economist came up with the acronym BRICs for Brazil, Russia, India and China in 2001 to describe emerging economies that might challenge the West. The four held their first summit in 2009 and were joined by South Africa in 2011.

Front row: Brazilian President Michel Temer, Russian President Vladimir Putin, Indian Prime Minister Narendra Modi, President Xi Jinping and South African President Jacob Zuma pose for photo at a dialogue between BRICS and BIMSTEC leaders in Goa, India, in October, 2016. Photo: Xinhua

2. The group is seen as a rival of the Group of Seven industrialised nations. While the G-7 have struggled with towering budget deficits and rising unemployment over the past decade, the BRICS have fared better.

A selection of G-7 leader, from left: German Chancellor Angela Merkel, US President Donald Trump, British Prime Minister Theresa May, Italian Prime Minister Paolo Gentiloni and French President Emmanuel Macron, during a meeting on the first day of the G7 Summit in Sicily, Italy, in May 2017. Photo: EPA

3. Two people out of every five people on the planet is from a BRICS country – about 3 billion people.

Two out of every five people on the planet are from BRICS countries. Photo: SCMP

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