The acronym was coined and prominently used by Jim O'Neill, head of global economic research at Goldman Sachs in 2001..According to a paper published in 2005, Mexico and South Korea are the only other countries comparable to the BRICs, but their economies were excluded initially because they were considered already more developed.
The four countries, combined, currently account for more than a quarter of the world's land area and more than 40% of the world's population.
| Summit | Date | Host country | Host leader | Location held |
|---|---|---|---|---|
| 1st | June 16, 2009 |  Russia | Dmitry Medvedev | Yekaterinburg |
| 2nd | April 16, 2010 |  Brazil | Luiz Inácio Lula da Silva | Brasília |
| 3rd | TBA |  China | Hu Jintao | Beijing |
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