BRICS to BRICSAEEISAUAE..!
At the Emerging Markets Group conference in South Africa, it has been announced that 6 new members have been invited to join the BRICS group. One of its first and biggest challenges will be to come up with a better group acronym!
The BRICS alliance currently includes Brazil, Russia, India, China and South Africa, representing 40% of the world’s population and 25% of its GDP. Now it’s inviting Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the UAE to join. It is hoped it will establish a stronger mouthpiece for the ‘Global South’. A bigger outcome of this expanding group is that it will have growing economic clout to challenge the West’s global influence; perhaps helping to redress the current polarising effects of West-versus-the-Rest geopolitical arrogance.
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I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.