Bangladesh, Sept. 16 -- When the BRIC grouping first emerged, it was easy for Western observers to dismiss it as little more than an acronym created for an increasingly globalized world. Brazil, Russia, India and China appeared to have little in common beyond their status as large emerging economies. The grouping initially seemed more like an interesting economic concept than a serious force in international politics.

That perception gradually changed. As BRICS expanded and became a permanent feature of global diplomacy, it was increasingly portrayed as a developing-world counterpart to the G7. More recently, however, its significance has been framed in darker terms. In Washington and parts of the Western media, BRICS has come to be vie...