BRICS Will Work Together With 19 More Countries.

BRICS Will Work Together With 19 More Countries.

At a time when international and regional cooperation organizations seem to have run out of steam trying to find workable solutions to the conflicts, poverty, climate emergencies, and food crises that many nations around the world are experiencing, BRICS is looking to expand and introduce an alternative form of global governance. The current world order is seen as being challenged by its initiatives.

The diverse alliance known as the BRICS is made up of five significant emerging economies: Brazil, Russia, India, China, and South Africa. Up until South Africa joined in 2010, it was known as BRIC. It was established in 2006 by its founding four nations. The summit for this year was held in Beijing, while the summit for 2023 is scheduled to take place in Cape Town, South Africa. Each year, the members hold summits that they alternately host.

In the member nations, which collectively account for around 27% of the world's land area, 42% of the world's population resides. Strong militaries, rapidly growing economies, and increasing political influence in international institutions are only a few structural similarities between these countries.

The International Monetary Fund estimates that China accounts for more than 70% of the group's economy, with India coming in at 13%, followed by Brazil at 7%, Russia at 7%, South Africa at 3%, and South Africa at 7%.

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