BRICS Tries to Overhaul the World Order

BRICS Tries to Overhaul the World Order. Developing countries block on Thursday (24/8/2023), agreed to accept six new members, namely Saudi Arabia, Iran, Ethiopia, Egypt, Argentina and the United Arab Emirates ( UAE). The addition of the six BRICS member countries is a step aimed at accelerating their efforts to overhaul the world order which is considered unfair enough for third world countries. In deciding to support the expansion, which is the first time the bloc has done in 13 years, BRICS leaders left the door open for countries wishing to join. Because this group’s expansion plan has long been designed and voiced. It is evident that there are at least dozens of other countries that have expressed interest in joining.

Furthermore, this expansion adds to the economic strength of the BRICS, whose main members are currently China

the second largest economy in the world, as well as Brazil, Russia, India and South Africa. This can also strengthen their ambition to become champions in the Southern countries. However, long-standing tensions may persist between members seeking to shape the group as a counterbalance to the West – especially China, Russia, and now Iran and those who continue to cultivate close ties with the United States and Europe. This membership expansion is historic,” said Chinese President Xi Jinping, a major backer of the bloc’s expansion. “It shows the determination of the BRICS nations to unite and work together with the wider developing world.

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Originally the bloc’s name is an acronym coined by Goldman Sachs chief economist Jim O’Neill in 2001

the bloc was founded as an informal four-country club in 2009, and then added South Africa a year later. Now, the six new candidates will officially become members on January 1, 2024. South African President Cyril Ramaphosa said, naming the countries, during a three-day leaders’ meeting he convened in Johannesburg. BRICS has started a new chapter in its efforts to build a just world, a just. World a world that is also inclusive and prosperous said Ramaphosa. We have reached consensus on the first phase of this expansion process and more phases will follow.”

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