Recent news surrounding BRICS has been shaped by its expansion and the geopolitical dynamics involving its member states. The addition of new members, including the world's fourth-most populous nation, has been hailed as a significant step towards strengthening cooperation among emerging economies in the Global South. Concurrently, tensions between BRICS nations and Western powers have intensified, particularly as Russia seeks to bolster ties with Southeast Asian states amid the ongoing war in Ukraine. Additionally, discussions around the potential challenge to the US dollar's dominance in global trade have sparked debates about the future relevance of BRICS in the international economic landscape.
BRICS is an acronym representing five major emerging economies: Brazil, Russia, India, China, and South Africa. The group was formed to enhance collaboration among these nations, which are known for their substantial influence on regional and global affairs. Established in 2009, BRICS aims to promote peace, security, and development while advocating for a multipolar world order. The member countries collectively represent a significant portion of the world's population and economic output, making BRICS a key player in discussions about global governance and economic reform.
