BRICS began with an investment idea. In 2001, Goldman Sachs economist Jim O’Neill grouped Brazil, Russia, India and China together as fast-growing emerging economies. The acronym took off, and Russia later helped turn the concept into a political grouping. South Africa joined, followed by further expansion in recent years. BRICS has since created institutions such as the New Development Bank and the Contingent Reserve Arrangement, while encouraging trade in local currencies. Today, the group represents a large share of the world’s population and economic output. The bigger question is whether BRICS can become a lasting alternative to Western-led global institutions.

00:00:29 The 9/11 Catalyst and a New Global Vision
00:01:31 Jim O'Neill's Big Idea: The BRIC Concept
00:02:29 Initial Skepticism and the Rise of BRIC
00:03:28 From Acronym to Alliance: The Formation of BRICS
00:03:58 Building Alternative Institutions: NDB and CRA
00:05:38 BRICS Expansion and New Members
00:06:28 BRICS' Growing Influence and a Multipolar World

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