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BRICS Wants to Grow, But It’s Complicated

What’s the Big Deal?

BRICS is this big group of countries – Brazil, Russia, India, China, and South Africa – that’s been working together to become a global powerhouse. They’re aiming to give countries in the Global South more say in world affairs. Lately, there’s been a lot of talk about adding more countries to the group to make it even stronger, and this idea has been front and center in their recent meetings.

Everyone Agrees, But Not Really

At the latest BRICS meeting in South Africa, everyone was talking about letting new countries join. Publicly, they all said they’re for it. But behind the scenes, things aren’t so simple. India’s Prime Minister Narendra Modi has been throwing in some new rules for who can join, and that’s been holding things up. Basically, all five countries can’t completely agree on the specifics.

Why It’s Complicated

Here’s the thing: each BRICS country has its own economy and its own goals when it comes to foreign policy. Like, China is super keen on adding more countries to BRICS because they think it’ll help challenge Western countries like the U.S. On the other hand, Brazil and India are also trying to be friends with those same Western countries. So, it’s a bit of a balancing act.

What’s India Doing?

India’s PM Modi is making things even more complex. He says that any new country that wants to join BRICS has to meet certain requirements, like not being under international sanctions and having a certain level of income. Some people think that India is making it harder for the group to decide on new members.

Who Wants In?

A whole bunch of countries are interested in joining BRICS—over 40, in fact! Countries like Iran and Argentina want in, and they’ve been talking to BRICS leaders about it. Everyone wants to join the cool club, basically.

Why People Care

BRICS already includes almost half of the world’s population and about a quarter of the world’s economy. So, if they can actually work together, they could be a big deal globally. Even the U.S. government is paying attention, although they’re trying to downplay how important BRICS could become.

What Europe Says

Werner Hoyer, who’s in charge of the European Investment Bank, is telling Western countries to up their game in helping poorer nations. Otherwise, those countries might turn more to groups like BRICS for support.

Where We’re At

So, BRICS is at a critical point. They’re trying to figure out if they can grow without causing internal drama. They’ve got their own issues to sort out, but the stakes are high. If they pull it off, it could shake up who holds power on the world stage. Everyone’s waiting to see what will happen next.

FAQ: BRICS Wants to Grow, But It’s Complicated

What is BRICS?

BRICS is a group of five major emerging economies: Brazil, Russia, India, China, and South Africa. They work together on various fronts like economic cooperation, political dialogue, and cultural exchanges. The goal is to give the Global South more voice and influence in global matters.

Why do other countries want to join BRICS?

BRICS already has a lot of influence—representing nearly half the world’s population and a quarter of the global economy. Other countries want to join because they think being part of such a powerful group will give them more say on the world stage.

What’s the issue with expansion?

While all current BRICS members publicly agree that they should let more countries join, they can’t agree on the specifics. India, for instance, has proposed new criteria for joining that have slowed down the process.

What criteria has India suggested?

India’s Prime Minister, Narendra Modi, has suggested that countries wishing to join BRICS should not be under any international sanctions and should meet a minimum per capita GDP requirement.

How does China feel about expanding BRICS?

China is super enthusiastic about it. They think a bigger BRICS will be even more effective in challenging the dominance of Western countries like the U.S.

Is the U.S. worried about BRICS?

While the U.S. government is keeping an eye on BRICS, they’re trying to downplay its potential impact. However, some people in the West are concerned that a bigger and more influential BRICS could shift the global balance of power.

What’s the European Investment Bank’s take?

Werner Hoyer, the head of the European Investment Bank, has warned Western countries that they need to step up their support for less affluent nations. Otherwise, these countries might turn to BRICS or similar groups for help and support.

Who are some countries that want to join?

Over 40 countries have shown interest in joining BRICS. Some of these include Iran and Argentina, and they’re pretty eager to be part of the club.

What’s next for BRICS?

The group is at a crossroads right now. They need to figure out how to expand without causing internal issues. The world is watching closely to see what they’ll do next.

Sources Reuters