BRICS originally had 5 members on its team. However, on August 24, it recently added six more nations to its alliance. The move fosters the claim of BRICS as being the “voice of the Global South”. Not to miss, the move gives rise to concerns regarding the increasing dominance of China.
BRICS originally comprised of Russia, China, India, South Africa, and Russia. BRICS however invited Saudi Arabia, Ethiopia, Egypt, the United Arab Emirates, Iran, and Argentina. The membership of these nations will commence in January.
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Significance of the move
The addition of these new nations boosts BRICS’ position as a face of the developing world. At present, BRICS is the face of approximately 40% of the total population of the world. It also represents more than a quarter of the total GDP of the world.
The move to add new members will make BRICS represent half of the population of the world. It will also incorporate the biggest oil producers of the world, viz., UAE, Iran, and Saudi Arabia.
BRICS was formed in the year 2009. At its formation, the BRICS was fueled by the idea that the emerging markets of Russia, China, Brazil, and Russia would actually turn out to be the economic powerhouses of the globe. It was a year later than the formation that South Africa was added to BRICS.
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The addition of new members
The decisions of BRICS are unanimous. All members of BRICS agreed for the move to move forward. However, the expansion of the group is led by China. Post the BRICS officials meeting in the month of February, the foreign office of China stated “Membership expansion has become part of the core agenda of BRICS”.
Iran’s relations with the West are strained. Therefore, the invitation to Iran holds a robust China-Russia influence. Moreover, what makes the move by BRICS an interesting one is that Iran and Saudi Arabia, despite being rivals, are now a part of the same group. The biggest purchaser of oil in Saudi Arabia is China. It has negotiated a peace agreement between Riyadh and Tehran.
Traditionally, Saudi Arabia has been an ally of the United States, and this very well aligns with the BRICS membership.
In the case of Russia and Iran, the membership indicates to the West that the countries still hold some allies in the world.
Plus, both Ethiopia and Egypt have well-established relations with the United States as well.
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Source: tiengtrunghaato.edu.vn