BRICS: The new G7?

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[philosopherfrombed]

BRICS overtook G7 in GDP (PPP terms) because of two mammoth economies China & India.
Take a look:
India's GDP (PPP terms) = $13.03 Trillion
China's GDP (PPP terms) = $33 Trillion
(Source: IMF)

[anixes]

Tbh south Africa shouldn't be there in BRICS like it originally was. They provide nothing to the table.

[zealandia]

Countries welcome to join the BRICS:

🇦🇷 Argentina 👍
🇪🇬 Egypt 👍
🇮🇩 Indonesia 👍
🇮🇷 Iran 👍
🇲🇽 Mexico 👍
🇳🇬 Nigeria 👍
🇸🇦 Saudi Arabia 👍
🇰🇷 South Korea 👍
🇹🇷 Türkiye 👍
🇻🇪 Venezuela 👍
🇻🇳 Vietnam 👍

[rollsroyce]

Dollar is the biggest problem for these countries. You should understand that these countries dont earn in dollars, but in their respective currencies. Because to trade internationally they have to convert their currency in US dollar which gives edge to US as they decide to print the dollar and keep the federal interest rate. Actually BRICS countries produce more than US but because of dollar it isn't represented properly.

[josuaerick]

you also forgot to point out that G7 used to be called G8 with Russia in it but after Russia invaded Ukraine, they kicked Russia out and now Russia is fully focused with BRICS instead.

[reeltv]

I'm so confused right now. Because all of BRICS combined isn't even the US GDP let alone G7.

[savolrat]

cooporation between brics countries and G7 countries isn't comparable. China and India still frequently fight over territory lol

[Why.not.so.serious]

Meanwhile climate crisis smiling silently on earth🤪🤪

[NandaDusa]

ok, I don't understand and I need to study more about it. however, I've been asking myself: why does the US have so much power with their dollar if other countries should be richer for producing more inputs for human survival?

[robertogomezs]

Mexico president said that the country will not join BRICS because of the agreement signed with Canada and USA.

[tanzongyuan]

To me, there are 3 countries who could replace the BRICS soon: Guatemala, Liberia and Papua New Guinea

[cscsp]

I heard India will be kicked out of BRICS at the next summit meeting in S Africa. India still has a place in QUAD and the IPEF, .

[kev]

You had me hella confused by using PPP. It’s a good metric to determine how much stuff you can buy for each unit of currency you spend but it doesn’t determine how much your country outputs, which GDP does

[danielszekeres]

Not even close. They would need a social liberal government for decades at least

[Extra]

Imagine if BRICS becomes a military alliance

[LightblueStar]

I don't understand, why is BRICS a thing? Like what do Brazil, Russia, India, China and South Africa have in common? I thought Brazil was alligned with the US and that India had terrible relations with China, so I don't understand how could this work

[itsvictorytime]

I'd say that the rise of BRICS as a potential new G7 signifies a shift in global economic power and highlights the growing importance of emerging markets in shaping the world's economic landscape, but whether BRICS can truly replace the G7 as a dominant economic force remains to be seen, as they face challenges such as political instability, corruption, and economic inequality within their own countries. Nonetheless, the emergence of BRICS is a reminder that the world is constantly changing.

[gocool_.]

As an Indian I feel that brics is just a waste of time for us. There is no point of us being there since china is there in brics.

[michaelsomething]

Russia is not really europe dominant economy

[wisdomhighschool]

Actually it's Only CHINA and INDIA, since China's GDP PPP is $ 28 Trillion and India's GDP PPP is $ 13 Trillion in 2023 which means 1st and 3rd Largest in the World and India is the World's Fastest Growing Major Economy and China is no 2 fastest growing, and China has grown it's Economy by 56% in last 9 years, While India's Economy grew by 46% in last 9 years, But The Russian and Brazilian Economies Contracted in last 9 years by -25% and -5% as, And South Africa is a Small Economy(smaller than Many Chinese States and 2 Indian States) and These latter 3 countries economies are Focussed on Resource Extraction meanwhile China's and India's Economies are based on Manufacturing and Services and In terms of Military, China's Military is the World's Fastest Growing and India's Military is the World's 2nd Fastest Growing and Modernising especially with Developing own Defence-Industrial Based at home and 3rd and 4th most powerful Militaries and Russian military which is currently 2nd most powerful will soon fall behind China and India with an exception of Nuclear Advantage