The expanded BRICS (now including Egypt, Ethiopia, Iran, UAE, and Saudi Arabia) represents a challenge to Western-dominated financial systems.
Key Developments
- De-Dollarization Efforts – Members push for trade in local currencies.
- Alternative to IMF/World Bank – New Development Bank gains influence.
- Geopolitical Alignments – Russia and China use BRICS to evade sanctions.
Challenges Ahead
- Internal Divisions – India vs. China tensions persist.
- Economic Gaps – Can Ethiopia and Egypt benefit equally?
Future Scenarios
Will BRICS+ become a true counterweight to the G7?