By Somar Wijayadasa*
NEW YORK (IDN) — The 15th BRICS Summit is scheduled to take place in August this year in Durban, South Africa at a time of great upheaval—both political and economical—throughout the world. BRICS is an acronym for five regional economies: Brazil, Russia, India, China, and South Africa.
The first four were initially grouped as "BRIC" in 2001 by Goldman Sachs economist Jim O'Neill, who coined the term to describe fast-growing economies that would collectively dominate the global economy by 2050; South Africa was added in 2010.



























