The BRICS began to assert a greater economic and political voice in international matters. For instance, during the global financial crisis that almost caused the collapse of the world economy, the BRICS countries firmly backed the idea of reforming the international banking system. The BRICS, especially resource-rich Brazil, Russia, and South Africa, benefited from the early 2000s commodity boom and its comeback in the early 2010s. China joined the World Trade Organization and surpassed all other countries in terms of merchandise exports by 2009. India developed became a hub for global IT for the rest of the world.
Hence, even after Goldman Sachs denied taking part in the continuation of the BRICS dream as a sort of savior of the current global economic order, the assets and currencies of the BRICS were still highly appealing for international investors.
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