BRIC.

BRIC is an acronym for Brazil, Russia, India, and China that pertains to the economies of these nations. Inclusion in the group is based on population size and production. The BRIC nations are thought to be on a similar course of economic development. They also have the largest emerging economies in the world. It is believed that Brazil and Russia will one day become the world’s leading suppliers of raw materials, while India and China will become the world’s prevailing suppliers of manufactured goods and services. Furthermore, many companies view the BRIC nations as opportunities for foreign expansion because of their reduced labor and production costs.