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Q18 (CAPF/2009) International Relations & Global Affairs › International Organisations & Groupings › Intergovernmental groupings Answer Verified

Which one of the following statements about BRIC is not correct ?

Result
Your answer: —  ·  Correct: D
Explanation

The statement in option 4 is incorrect because the 'C' in BRIC stands for China, not Canada. The grouping was originally formed by Brazil, Russia, India, and China [t2][t8]. South Africa joined later in 2010, expanding the acronym to BRICS [t4][t10]. Regarding the other options: the first formal BRIC summit was indeed held in Yekaterinburg, Russia, on June 16, 2009 [t1][t8]. The term was coined by Jim O'Neill of Goldman Sachs, who predicted in a 2003 report that these economies could become dominant global players by 2050 [t2][t5]. Furthermore, BRIC nations have historically advocated for the acceleration of the WTO Doha Round, specifically seeking the reduction of agricultural subsidies by developed nations to ensure a fairer global trade regime [t9].

Sources

  1. [1] https://pim.sjp.ac.lk/pimweb/sljm/admin/uploads/26_1681793673.pdf
  2. [2] https://en.wikipedia.org/wiki/1st_BRIC_summit
  3. [3] https://brics2022.mfa.gov.cn/eng/gyjzgj/ljldrhwjj/
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