Anti-American Alliance BRICS Grows Stronger As It Invites 6 More Members
The BRICS economic fold recently invited six new nations to join its ranks. This invitation marks the most significant expansion attempt by the bloc since it was created. On August 24, 2024 South African President Cyril Ramaphosa announced this move at the end of the three-day BRICS summit in Johannesburg.
Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE were invited to join BRICS as full members beginning in 2024. The accession of these nations will increase the size of BRICS more than twofold. The economic bloc currently consists of Brazil, Russia, India, China, and South Africa.
The five BRICS nations represent 40% of the world’s population, and the bloc is perceived as a check against the US-led global economic order.
The US’s overuse of sanctions have incentivized the development of an alternate global financial system and a push towards de-dollarization, especially after Russia’s invasion of Ukraine. Russia has found new alternative export markets for its oil in China and India since the Collective West launched sanctions against Russia after its military invasion of Ukraine. Since then, nations of the Global South have largely sided with China and Russia to form parallel economic and institutions to the Anglo-American dominated world order.
The US’s non-stop military interventions abroad and its dysfunction at home have gradually tarnished its image on the international stage. It has made some nations become hesitant about continuing to partner with the US. Instead, they’re beginning to exercise their options and consider teaming up with rival economic blocs such as BRICS.
That’s how the multipolar order is unfolding before our very eyes.