The BRICS alliance of emerging major economies – Brazil, Russia, India, China, South Africa – concluded its 15th Summit in Johannesburg with a major announcement. Six new countries have been invited into BRICS membership: Argentina, Ethiopia, Iran, United Arab Emirates (UAE), and Saudi Arabia.
With three major oil-exporting nations set to join BRICS, the alliance could now be in a stronger position to become a robust economic institution and a formidable rival to the dominance of Western economies. Hosts Rania Khalek and Eugene Puryear discuss this historic development and what it could mean for BRICS’ mission to rearrange an inequitable economic status quo and be more favorable to the Global South.
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