Name: Understanding the Global Community - BRICS
Uploaded: 2015-06-15T04:27:47.000Z
Duration: 2 min 28 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

>>>>Dean Grillot: We cannot discuss the global economy without mentioning some of the largest

and fastest growing countries in the world. These countries have come to be known as the

BRICS countries: B R I C S, which is an acronym for the collective that includes the countries

of Brazil, Russia, India, China, and South Africa. Originally, beginning with their first

meeting in 2008, this group was just the BRIC countries. But in 2010, South Africa joined

this group of growing economic powers that are clearly exerting more power and influence

in their respective regions and around the globe.

Taken together, these five countries have a gross domestic product valued at nearly

20 trillion dollars, they own about four trillion dollars of foreign currency, and they represent

approximately three billion people, which is nearly half of the world's population.

Given such significant financial and human resources, the BRICS countries are undoubtedly

Moreover in 2011, these countries established the BRICS forum to encourage and facilitate

stronger cooperation on commercial, political, and cultural issues. In particular, the group

vowed to create its own development bank -- possibly to rival the well established International

Although at least one of the BRICS members has publicly mentioned that the group's purpose

is to defend developing countries and promote peace, relations among the BRICS countries

are not entirely easy and without their own difficulties. These countries also have their

significant disagreements, often compete with one another in global markets -- especially

energy markets -- and even experience inter-group territorial disputes. Despite their common

interests in working together and collectively facing global economic forces, they also face

a number of issues that could tear them apart.

Nonetheless, the existence of a united front and the development of the BRICS Forum is

something that other major economic powers of the world cannot ignore. But you tell us

what you think. Are the BRICS countries a challenge to other economic powers in the

global community and a threat to global economic stability? Or are they likely to promote more

even growth around the world and contribute to more peaceful and globally beneficial economic