BRICS Membership Swells To 11 Countries. Dawn Of New World Order?
Updated: Aug 27
Africa | Rest Of The World | Commentaries | South Africa August 24, 2023
BRICS membership swelled from the current 5 countries, namely Brazil, Russia, India, China, and South Africa, to 11, after leaders of the global economic bloc agreed to invite 6 countries to join the bloc. The landmark agreement was reached during the ongoing BRICS Summit 2023 in Johannesburg, South Africa, and announced by the summit's host, President Cyril Ramaphosa, on August 24, 2023.
The 6 countries that have been invited to join the bloc are: Ethiopia, Egypt, Saudi Arabia, United Arab Emirates, Argentina, and Iran. They are among 23 countries that are said to have formally applied to join the bloc.
The expansion of BRICS comes into effect on January 1, 2023, according to the announcement.
The increase in BRICS member countries comes as the bloc strives to, among others:
Reduce dependence on the US dollar in their international trade and finance or what is also called de-dollarization, through various mechanisms. The latter include: creation of a BRICS currency based on similar model as that of lets say the EURO; trading in local currencies; converting national currency reserves into gold; etc
Challenge the current global dominance by the so-called West that safeguards only its interests, through delivering a new world order that caters for the interests of all nations
With BRICS increased number of member countries some that are among the richest in the world in natural assets, as well as some with rapidly advancing technological capacities, it will be naive to overlook the capability of the bloc in bringing tangible change to the world. In other words, with expanded BRICS, the ways things are done in the world is definitely going to change, and nobody can stop that now. No single country or bloc can dominate the world in any way, whether militarily or economically, in the 21st century and beyond. That is because global economic, technological, political, and other societal circumstances have changed dramatically in the past couple of decades. Those still hanging onto the status quo, probably staunch believers of past glory, will soon understand what we are saying!
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