The first BRIC (Brazil, Russia, India, China) Summit was held in 2009 with the intention of consolidating inter-economic ties between the four countries. The second and third summit brought forth discussions on inclusive growth and renewable energy within the framework of environment and food security. Consequently, in 2010, South Africa was added to the exclusive club – and “BRIC” became “BRICS.” The recent conclusion of the fourth BRICS Summit on March 29, 2012 brought forth a deluge of questions regarding the position of BRICS on … [Read more...]