Skip to main content

Why BRICS Expanding

  Understanding the BRICS Group

The Rise of BRICS

An expanding alliance reshaping the global economic and political landscape.

What is BRICS?

BRICS is an intergovernmental organization of major emerging economies. The term 'BRIC' was coined in 2001 by Goldman Sachs economist Jim O'Neill.

It's an informal group with no founding treaty or headquarters, focusing on political and economic cooperation.

A Significant Global Player

~45%

of World Population

~35%

of Global GDP (PPP)

~30%

of Global Oil Output

Member Countries

Founding Members

Brazil FlagBrazil
Russia FlagRussia
India FlagIndia
China FlagChina
South Africa FlagSouth Africa (2010)

New Members (Joined 2024)

Egypt FlagEgypt
Ethiopia FlagEthiopia
Iran FlagIran
UAE FlagUAE
Indonesia FlagIndonesia

Why is it Expanding?

  • ✔ To increase its collective economic and political influence on the world stage.
  • ✔ To challenge the dominance of Western-led financial institutions like the IMF and World Bank.
  • ✔ To create a more "multipolar" world order that gives a greater voice to the Global South.
  • ✔ To promote trade and investment using local currencies, reducing dependence on the US dollar.

Key Institutions

New Development Bank (NDB)

Established in 2015, the NDB (or "BRICS Bank") funds infrastructure and sustainable development projects in member countries and other emerging economies.

Contingent Reserve Arrangement (CRA)

A framework for providing protection against global liquidity pressures.

Source: Council on Foreign Relations (CFR) | Infographic created by Gemini

Comments

Post a Comment

Popular posts from this blog

India At WTO : Norm - breaker and Dealmaker

Infographic: India's Contradictory Role in the WTO India at the WTO Norm-Breaker & Dealmaker India plays a complex, disruptive role in the World Trade Organization, leveraging global trade for growth while obstructing progress on key issues to protect its national interests. Three Pillars of Obstruction Plurilateral Deals India opposes plurilateral deals—where subsets of members negotiate—calling them illegal. This stalls modernization and vital agreements. This opposition blocks the Invest...
Post a Comment
Read more

Review of Principles of Animal Behavior by Lee Alan Dugatkin

Principles of Animal Behavior  (3rd Edition, 2013) by Lee Alan Dugatkin is a comprehensive and engaging textbook that provides a thorough introduction to the field of animal behavior, blending classical ethology with modern evolutionary and ecological perspectives. Dugatkin, a respected biologist and science writer, effectively synthesizes theoretical concepts, empirical research, and real-world examples to make the subject accessible to students and enthusiasts alike.   Strengths: 1. Clear and Engaging Writing Style : Dugatkin’s prose is lively and approachable, avoiding excessive jargon while maintaining scientific rigor. His enthusiasm for the subject shines through, making complex topics like kin selection, game theory, and behavioral genetics easier to grasp.   2. Balanced Coverage : The book covers a broad range of topics, including:      - Foundations (history, evolution, and mechanisms of behavior)      - Proximate...
Post a Comment
Read more