The BRIC countries-Brazil, Russia, India and China have a population of over 2.8 billion people between them (more than 40% of the world's population. These countries are going to be the dominant forces in the next 50 years. Now with the recent admission of South Africa, the group will be present on three continents (Africa, Asia and South America), as well as a looming presence in Eastern Europe, thanks to Russia.

The move to admit South Africa may be part of a greater BRIC strategy to get on the good side of a country in a rapidly developing continent, since Brazil, Russia, India and China have all economic ties to Africa that they want to entrench. The population in the Southern Africa region, in which South Africa is considered the gateway country, represents 20% of Africa's current total population of nearly 1 billion people. Among its peers, South Africa is considered to be the most developed country, has greatr political stability and is considered less corrupt (according to Transparency International)

Being a member of the BRICS group offers developing economies a chance to meet to discuss problems and coordinate strategies. To a certain extent, the BRICS countries offer a counterweight to the G8, whose members have long been considered the most important and influential economies. According to the IMF, the combined GDP of the G8 in 2010 was $ 33.36 trillion; for BRICS, it was $ 11.33 trillion. The group is dominated by China, which many investors and economists consider the real driver. Without China's GDP used in the 2010 GDP calculation, the remaining BRIS is only 8% of the global economy.

As BRIC countries become more developed, their influence on the global market will continue to grow. The GDP growth of emerging and developing countries has outpaced both the world and advanced economies. BRICS countries make up 18% of the world economy estimated at $62.9 trillion in 2010, a significant jump from the 11% estimate in 2005. At the same time, G8 countries fell from an estimated 64% of the world GDP in 2005, to 53% in 2010.

It is clear that emerging markets will continue to play an important role in the world economy. And this will surely impact our global lobbying practice.

As exporters of commodities to the rich world and importers of goods made by more developed countries, BRICS represent a giant influx of both industrial workers and cash-flush consumers.



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