Investopedia explains 'Brazil, Russia, India, China And South Africa - BRICS'
As of 2011, these five countries were among the fastest growing emerging markets. It's important to note that the Goldman Sachs thesis isn't that these countries are a political alliance (like the European Union) or a formal trading association - but they have the potential to form a powerful economic bloc. BRIC is now also used as a more generic marketing term to refer to the four original emerging economies.
Due to lower labor and production costs, many companies also cite BRICS as a source of foreign expansion opportunity.
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