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Wednesday, June 7, 2023
Is Algeria Ready to Join BRICS?
Despite its economic shortcomings, Algeria’s geographic position, fast-growing population, and warm relations with all BRICS countries, makes its bid a strong one
Emerging markets around the world are interested in joining the BRICS group which is more focused on business than values
As the United States struggles to maintain influence across vast parts of the Global South, the expanding BRICS bloc led by Brazil, Russia, India, China and South Africa is receiving more applications than ever before, signaling a growing shift in the international economic order
BRICS’ economic rise also marks an important challenge to the US-led ‘liberal world order’
In leading the military support of Ukraine’s fight against Russia, introducing a massive package of sanctions and weaponising the dollar, Washington has caused a backlash that is rapidly driving the world’s leading emerging markets (EMs) together into a bloc led by the BRICS, who are clubbing together and de-dollarising in case they are next up to face US-led Western ire
The foreign ministers of the BRICS group of major emerging economies will meet in South Africa on June 1-2 to discuss pressing geopolitical issues, including the bloc’s first enlargement in over a decade as it seeks to position itself as a representative of the “Global South” and provide an alternative model to the Group of Seven
South Africa hosted the BRICS Academic Forum in Cape Town, where discussions focused on the most pressing issues on the BRICS agenda such as the modalities of BRICS-Africa cooperation, including through the advancement of the African Continental Free Trade Area