BRICS
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Article could need a bit more deep political perspective + a bit on the problems around what it means. Also untidy. |
intergovernmental organisationIntergovernmental organization
| BRICS Plus link () Website | |
|---|---|
| File:BRICS 2025.png | |
| Type | Intergovernmental organization |
| Membership | Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, United Arab Emirates |
BRICS is an intergovernmental organisation consisting of ten countries – Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates. The acronym BRICS+, or its expanded form BRICS Plus, has been informally used to reflect new membership since 2024.[1]
History
BRIC was originally a term coined by British economist Jim O'Neill and later championed by his employer Goldman Sachs in 2001 to designate the group of emerging markets. The first summit in 2009 featured the founding countries of Brazil, Russia, India, and China, where they co-opted the name BRIC and formed an informal diplomatic club where their governments could meet annually at formal summits and coordinate multilateral policies. In April 2010, South Africa attended the 2nd BRIC summit as a guest. In September 2010 they joined the organisation which was then renamed BRICS, and attended the 3rd BRICS summit in 2011 as a full member.
Expansion
On 24 April 2023, Going Underground tweeted:
- "BREAKING: 19 countries have requested to join the BRICS bloc ahead of the upcoming BRICS summit.[2]
- "The BRICS as it stands currently contributes more to global economic growth than the G7. With countries such as Saudi Arabia, UAE and Iran showing interest in joining, is the era of Western dictat over the Global South coming to a rapid close?
BRICS + EEAUI = CRIE USA + EIB
At the conclusion of the 2023 BRICS summit in Johannesburg, it was announced that six new countries had been invited to join the existing five members Brazil, Russia, India, China and South Africa:
- Egypt 🇪🇬
- Ethiopia 🇪🇹
- Argentina 🇦🇷
- UAE 🇦🇪
- Iran 🇮🇷
- Saudi Arabia 🇸🇦
Except for Argentina and Saudi Arabia, four of the invitees became new members of BRICS with effect from 1 January 2024. So it's actually BRICS + EEUI = CRIE US + EIB![4]
Iran, Egypt, Ethiopia, and the United Arab Emirates attended their first summit as member states in 2024 in Russia.
Richard Medhurst tweeted:
- The rise of the Global South and multipolarism accelerates, as the obsolete regime of Western hegemony dwindles into irrelevance.[5]
BRICS 2024 includes Iran
The 2024 Summit was held in Kazan, the largest city and capital of Tatarstan, Russia, which lies at the confluence of the Volga and Kazanka Rivers. Iran was confirmed as "a fully-fledged member" of BRICS+.[6] A commentator on X said:
- Putin declaring that "Iran has become a fully-fledged member of the BRICS" sends shockwaves, especially for Israel and the US. This isn’t just a casual statement; it suggests a deeper alliance that could shift the balance of power in the Middle East.
- For Israel, this means facing a strengthened coalition that could embolden Iranian influence in the region, making their security situation even more precarious. For the US, it complicates their efforts to counteract Iranian activities, especially with all the tensions already surrounding the Israeli-Palestinian conflict.
- And let’s not forget Ukraine – this move might also signal that Russia is solidifying its support network as it continues its conflict there. The geopolitical landscape is getting more tangled, and it feels like we’re on the brink of some serious repercussions. Buckle up; things are about to get even more intense![7]
BRICS+ in 2025
Indonesia officially joined BRICS+ as a member state in early 2025, becoming the first Southeast Asian member.
Dominated by China
BRICS is dominated by China, which has the largest share of the group's GDP, accounting to about 70% of the organisation total. Some in the West consider BRICS institutions an alternative to institutions such as those led by nations of the G7 bloc, which are among the world's leading economies.
Together BRICS has implemented competing initiatives such as the New Development Bank, the BRICS Contingent Reserve Arrangement, BRICS pay, the BRICS Joint Statistical Publication and the BRICS basket reserve currency.
In its first 15 years BRICS has established almost 60 intra-group institutions, and think tanks to dialogues, covering agenda in 34 subjects.
$27.65 rising to $32.72 trillion
Original BRICS membership (GDP):
- 🇧🇷 Brazil: $2.08 trillion
- 🇷🇺 Russia: $2.06 trillion
- 🇮🇳 India: $3.74 trillion
- 🇨🇳 China: $19.37 trillion
- 🇿🇦 South Africa: $399 billion
Subtotal: $27.65 trillion
Applied for membership:
- 🇩🇿 Algeria: $206 billion
- 🇦🇷 Argentina: $641 billion
- 🇧🇭 Bahrain: $44 billion
- 🇪🇬 Egypt: $387 billion
- 🇮🇩 Indonesia: $1.39 trillion
- 🇮🇷 Iran: $367 billion
- 🇸🇦 Saudi Arabia: $1.06 trillion
- 🇦🇪 UAE: $499 billion
Total: $32.72 trillion[8]
References
- ↑ "Brics expansion: six more nations are set to join – what they’re buying into"
- ↑ "South Africa grants Putin and Brics leaders diplomatic immunity for summit"
- ↑ "Seymour Hersh on his BOMBSHELL Report of Zelensky Embezzling $400 Million from US Aid to Ukraine"
- ↑ "As of today, BRICS gained 4 new members: 🇪🇬 Egypt, 🇪🇹 Ethiopia, 🇮🇷 Iran, 🇦🇪 The United Arab Emirates"
- ↑ "HISTORIC: BRICS has invited six new countries to join"
- ↑ "Russia's President Putin says 'Iran has become a fully-fledged member of the BRICS'."
- ↑ "Putin declaring that 'Iran has become a fully-fledged member of the BRICS' sends shockwaves, especially for Israel and the US"
- ↑ "BRICS membership (GDP) – $27.65 rising to $32.72 trillion"
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