With six new members, the Brics group is changing dimensions

Brazilian President Luiz Inacio Lula da Silva, Chinese President Xi Jinping, South African President Cyril Ramaphosa, Indian Prime Minister Narendra Modi and Russian Foreign Minister Sergei Lavrov at the 15th BRICS Summit in Johannesburg, South Africa on August 24. PHILL MAGAKOE/AFP

CHEATING – Including Saudi Arabia and Iran specifically, the club will now represent a third of the world's economy.

In Johannesburg

Brics delegates (Brazil, Russia, India, China and South Africa) promised it behind the scenes “disrupt world order”. They kept their word and on the 15the the summit of the so-called developing countries will go down in history. The heads of state and government of this “Club of Five” separated themselves on Thursday by inviting six more countries to join them from January 2024: Saudi Arabia, the United Arab Emirates, Iran, Argentina, Egypt and Ethiopia. With this expansion, the Brics will account for more than 35% of global GDP and almost 50% of the planet's population from January 2024.

“BRICS needs the participation of major oil producing countries. This allows them to be more credible and initiate the debate on the single currency., notes William Gumede, a professor at Wits University in Johannesburg. The accession of Saudi Arabia, the United Arab Emirates and Iran could be a real game-changer for the group, whose members…

This article is reserved for subscribers. You have 80% left to discover.

Want to read more?

Unlock all items instantly.

Already subscribed? Sing in

Elliot Frost

"Pop culture maven. Analyst. Writer. Wannabe food evangelist. Organizer. Friendly internet lover. Incurable troublemaker. Entrepreneur."