The BRICs; the group of emerging countries formed by Brazil, Russia, India and China (with the addition of South Africa in 2010), which were put on the table in 2001 by Jim O'Neill, then chief economist at Goldman Sachs.The BRICs, which were brought to the fore in 2001 by Jim O'Neill, then chief economist at Goldman Sachs, promised to become the largest economies on the planet, but have had a more complex evolution than expected, promised to become the largest economies on the planet, but have had a more complex evolution than expected. However, the group is coming back to the fray.

The group began a summit in Johannesburg this week with an agenda aimed at strengthening its geopolitical and economic influence vis-à-vis the G-7 (group of developed countries) and the United States in particular. The South African summit will bring together 40 heads of state against the backdrop of some twenty countries interested in formally joining the group.

According to analysts at GZERO/Eurasia Group and Bloomberg, it is difficult for major agreements to be reached during the meeting, given the diversity of political systems and interests of the countries in the group.The group's members' diverse political systems and interests make it difficult to reach major agreements during the meeting, but its potential enlargement would have important implications.

According to Bloomberg Economics, if countries interested in joining the BRICs, such as Indonesia and Saudi Arabia, do so, by 2040 the group could account for 50% of global GDP, compared to 25% for the G-7, and also half of the world's population.

China, Russia and South Africa are the group's most enthusiastic expansion partners, while India is somewhat wary of the prominence China is seeking in the group's growth. 

The Asian giant is already the main trading partner of the other BRIC member countries (with the exception of India), and its trade with these countries increased by 12% in the first half of 2022 compared to the same period of the previous year.