A meeting of the major middle-income countries in South Africa garnered plenty of attention, but produced little in terms of actual policies.
Brazil, Russia, India, China and South Africa (BRICS) account for over 40% of the world’s population, 1/4 of the world’s GDP and are responsible for 55% of the global economic growth since 2009. The BRICS have raced onward in the face of the financial downturn and are poised to take a larger share of the global economy in the coming years.
What will this mean for development, for the global push to reduce poverty, inequity and the so-called north-south imbalance of power. Some experts think not much, because the BRICS are more a concept than a cohesive force. Continue reading



