Leaders of the BRICS emerging economies, which together account for about a quarter of the world’s wealth, are meeting in Johannesburg this week to discuss ways to widen the bloc’s influence and push for a shift in global geopolitics.
- The BRICS countries (Brazil, Russia, India, China, and South Africa) account for about 23% of the world’s GDP and 42% of the world’s population.
- The combined bloc represents more than 16% of the world’s trade.
- The BRICS countries have been growing rapidly in recent years. In 2000, their combined GDP was $10 trillion; by 2021, it had grown to $28 trillion.
- The BRICS countries are home to some of the fastest-growing economies in the world. China’s economy is the world’s second-largest, and India’s economy is the world’s fifth-largest.
- The BRICS countries are also major exporters of commodities, such as oil, gas, and metals.
- The BRICS countries are increasingly investing in each other’s economies. In 2021, China invested $140 billion in the BRICS countries, while India invested $60 billion.
- The BRICS countries have also been working together to promote trade and investment within the bloc. In 2019, they launched the BRICS Free Trade Agreement, which is expected to boost trade between the countries by $100 billion.
- The BRICS countries are also working together to address common challenges, such as climate change and terrorism.
The BRICS economy is a major force in the global economy. The bloc’s growing economic power is giving it a greater voice in international affairs. The BRICS countries are also increasingly working together to promote their own interests and to challenge the status quo.
The summit, which will be held from Tuesday to Thursday, will be hosted by South African President Cyril Ramaphosa. Other leaders attending include Chinese President Xi Jinping, Indian Prime Minister Narendra Modi, Brazilian President Luiz Inacio Lula da Silva, and Russian Foreign Minister Sergey Lavrov.
The BRICS countries — Brazil, Russia, India, China, and South Africa — have been growing in economic and political clout in recent years. They are all dissatisfied with the current global order, which they see as being dominated by the United States and other Western countries.
The BRICS countries are looking to use their growing influence to promote their own interests and to challenge the status quo. They are also interested in expanding the bloc to include other countries from the Global South.
At the summit, the BRICS leaders are expected to discuss a number of issues, including trade, investment, and climate change. They are also expected to issue a joint statement on their shared goals and ambitions.
The summit comes at a time of great uncertainty in the global economy. The COVID-19 pandemic has had a devastating impact on many countries, and the war in Ukraine is further disrupting trade and investment.
The BRICS countries are hoping to use the summit to send a message of unity and cooperation. They are also hoping to use their collective influence to help shape the post-pandemic global order.
- The BRICS countries have been growing in economic and political clout in recent years. In 2021, their combined GDP was $28 trillion, and their combined population was 4.4 billion people.
- The BRICS countries are all dissatisfied with the current global order, which they see as being dominated by the United States and other Western countries. They believe that the current system is unfair and that it does not adequately represent their interests.
- The BRICS countries are looking to use their growing influence to promote their own interests and to challenge the status quo. They are also interested in expanding the bloc to include other countries from the Global South.
- The BRICS countries are facing a number of challenges, including the COVID-19 pandemic, the war in Ukraine, and climate change. However, they are also seeing opportunities, such as the rise of new technologies and the growing importance of the digital economy.
- The BRICS summit is an important opportunity for the five countries to come together and discuss their shared goals and ambitions. It is also an opportunity for them to show the world that they are a force to be reckoned with.
Shayne Heffernan
