BRICs, a new economic block
BRICs is an acronym that refers to the fast growing developing economies of Brazil, Russia, India, and China . The acronym was first coined and prominently used by Goldman Sachs in 2001. Of late BRICs has organized themselves into an economic bloc, or a formal trading association, like the European Union has done and are seeking to form a "political club" or "alliance" to convert "their growing economic power into greater geopolitical clout" Shanghai Cooperation Organization (SCO) is an intergovernmental mutual-security organization which was founded in 2001 by the leaders of China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, and Uzbekistan. Except for Uzbekistan, the other countries had been members of the Shanghai Five, founded in 1996. Departure Statement by the PM Dr Manmohan Singh on his visit to Russia on June 15, 2009 in New Delhi At the invitation of the President of the Russian Federation, His Excellency Mr. Dmitry Medvedev, I am leaving today to ...