The brics summit began on Monday until Thursday. Reportedly, brics is an acronym for the participant nations Brazil, Russia, India, China and a late addition in 2010, south Africa. According to reports, the president of Russia addressed the summit by video link where he made reference to the economy, particularly grain. He suggested that brics be a trading bloc representing the global majority. Reportedly, the president of China who flew to Johannesburg on Monday didn’t turn up for a business forum on Tuesday, instead his speech which criticised u.s. hegemony was read outby his commerce manager.