What is meant in investment circles by the acronym B.R.I.C.? What is the relevance of this acronym to the relative distribution of economic power in the world? (This question is important becomes world shares of GDP is shifting. As of 2016 the term may be obsolete, but still important). This question can be answered in a few words. The reason I ask this question is simple: In the long run, what countries do you think will dictate international financial regulation (including accounting standards). What is meant by the more recent acronym M.I.S.T.?