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The rationale was that the collapse in commodity prices has badly holed the economies of Brazil and Russia which, in alliance with China and India, had formed the Brics quartet dreamt up by Jim O’Neill, then chief economist of Goldman Sachs, in 2001.
Instead, equity investors were buying into the Ticks, which feature Taiwan and (South) Korea, alongside China and India, ignominiously dumping Brazil and Russia in the process, as the first chart shows................
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Brazil recently had massive demonstrations, regarding its economy, and we all know what Russia's going through. So it seems Brics no longer exist and Ticks was created without them both. Not promising for Russia. Wonder if CIS still exists.