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XIAMEN, Sept. 1-- Leaders from the world's top emerging markets will gather in the southeastern Chinese coastal city of Xiamen this month, marking the 11th anniversary of the BRICS cooperation mechanism. The original term "BRIC," coined by former Goldman Sachs economist Jim O'Neill in 2001, referred to Brazil, Russia, India and China, four emerging markets with fast growth and great potential. In 2006, foreign ministers from those countries met in New York to formally establish the BRIC grouping. When South Africa joined in 2010, the acronym changed to BRICS. Together, the five countries now represent 44 percent of the world's population and 23 percent of global GDP, up from 12 percent a decade ago. Amid a sluggish global economic recovery and setbacks in globalization, the Xiamen summit from Sept. 3 to 5 may be able to put a new shine on emerging markets and developing countries. This year marks the first time for Chinese President Xi Jinping to chair a BRICS summit. A traditional shipping center, Xiamen has been a window for the Chinese economy. As one of the first special economic zones in China, it has been a pilot city for many market-oriented economic reform experiments, a hub for attracting foreign industries, and a symbol of the nation's ambitions to reform and open up to the world. Xiamen is also a pioneer of BRICS cooperation in trade and investment. In 2011, it hosted the China International Fair for Investment and Trade, where representatives of the five BRICS countries jointly participated for the first time. | 
