KPI. Even Jim O'Neill, who "invented" the BRIC doesn't see why this makes sense.
Therefore I see only two reasons why South Africa is now in the club, and not Mexico, Turkey or Indonesia (in my humble opinion far more suitable for the group).
1. The BRIC(S) need a foothold in Africa... or China wants to ensure that it's major target for foreign direct investments is covered by a strategic partner. (That is what O'Neill also believes) But if we are talking geopolitics Indonesia, Mexico and Turkey make at least as much sense.
2. BRICS sounds much better than BRICI, BRICT or BRIMC.
But I will not get sidetracked any further... back to Brazil.
1 week ago