By Darren Parkin BRICS is a term you may have heard thrown around in the news or in conversations about the global economy. But what exactly is BRICS? In short, BRICS is an acronym for Brazil, Russia, India, China, and South Africa. These five countries, representing some of the world’s largest economies, came together in 2009 (and South Africa in 2010), with Saudi Arabia looking to join. The population of this group is estimated at 3.2 billion people. One of the most interesting aspects of BRICS is their plans to back a new currency with commodities. China first proposed this idea, and since …

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