The Rise of BRICS
We've all heard a lot about BRICS.
What does it all mean?
It means the economic tide is shifting, and the global financial system is moving towards more security and stability. It's not a scheme for global dominance (this is not a Bond movie).
Economic development and growth is the driving force behind this alliance to allow members access to vast resources and open trade. Many emerging economies have expressed interest in membership. (At least 40 countries expressed interest in joining BRICS.) BRICS values mutual economic interests and creates a layer of protection against hostile parties that use economic penalties to punish nations. Disagreements should be resolved with a diplomatic approach. It represents a genuine interest for solutions. Rather than using economic intimidation tactics against the value of services, resources, and capital. Seizing assets and capital does not go unnoticed. The world is always watching events unfold.
Current Members:
Brazil, Russia, India, China, and South Africa
New members joining in January 2024:
1) Argentina (iron ore, uranium, lead, zinc, silver, copper, manganese, and tungsten)
2) Egypt (petroleum, natural gas, phosphates, manganese, limestone, lead, rare elements, etc)
3) Ethiopia (gold, platinum, copper, and natural gas)
4) Iran (oil, arable land, natural gas, agriculture, zinc, etc)
5) Saudi Arabia (natural gas, petroleum, copper, gold, and iron ore)
6) UAE (petroleum, natural gas, and solar resources)
The common factor between all the new members is resources that contribute towards economic growth. In addition, the geographical advantages and current population projections are also significant. Location is vital for many reasons, such as transportation. A workforce that can be trained is crucial for increasing productivity and output. It is always worth remembering that the more sanctions imposed on countries, the more resourceful they become. Alliances are formed by shared interests.
(Note: This is just a snapshot. There are many factors of importance.)
