A New World Order: BRICS Expansion and Economic Summit Shift
The BRICS group, initially a term coined by Goldman Sachs, has evolved into a geopolitical bloc with aspirations to counterbalance the West. The recent expansion of its membership, including countries like Egypt, Iran, and Saudi Arabia, highlights the Global South’s desire for a stronger voice.
With a population representing 45% of humanity and a growing economy, the BRICS are poised to challenge the dominance of Western powers. The bloc’s significant presence in the energy sector, producing 44% of the world’s oil, further solidifies its influence.
Despite ambitions to challenge the dollar and global financial institutions, internal cohesion within the BRICS remains a challenge. The alliance of democracies, autocracies, and historical rivals raises doubts about the bloc’s ability to truly drive change on the world stage.
