The first BRICS Summit, after the inclusion of South Africa, was held at
- A.Brasilia
- B.Sanya
- C.Yekaterinburg
- D.Durban
Correct answer
Explanation
The correct answer is B, Sanya. South Africa joined the group in late 2010, turning BRIC into BRICS, and its first summit as a member was the third summit of the group, held at Sanya on Hainan Island in China in April 2011.
The idea of BRIC came from a 2001 Goldman Sachs paper by Jim O'Neill on the fast-growing economies of Brazil, Russia, India and China. Their leaders first met formally as BRIC in 2009, and the group later set up the New Development Bank, headquartered in Shanghai, and a Contingent Reserve Arrangement, both agreed at the Fortaleza summit of 2014. The Sanya meeting was the first at which South Africa's president sat with the four original leaders.
A is wrong: Brasilia hosted the second summit in 2010, when the group was still BRIC. C is wrong: Yekaterinburg in Russia hosted the very first BRIC summit in 2009. D is wrong: Durban hosted the fifth summit in 2013, the first held in South Africa.
Exam tip: 2009 Yekaterinburg, 2010 Brasilia, 2011 Sanya (first with South Africa), 2012 New Delhi, 2013 Durban.
Practice Questions
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