What will a bigger BRICS mean? | Inside Story

A new era for BRICS: the five-nation bloc has invited six new members.
Joining Brazil, Russia, India, China & South Africa in 2023 will be Argentina, Ethiopia, Saudi Arabia
Iran, Egypt & the United Arab Emirates.
New arrangements are planned to cut reliance on the U.S dollar.
So can BRICS really shake up the world's political & economic architecture?

Presenter: Nick Clark

Guests: In Berlin - Ben Aris, founder and editor-in-chief, BNE IntelliNews.

In Johannesburg - Arina Muresan, senior researcher at the Institute for Global Dialogue.

In Beijing - Einar Tangen, China affairs analyst and senior fellow, Taihe Institute.



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[crude-za]

What stood out for me this week was how BBC, CNN and aljazeera managed to not broadcast the 3 days BRICS summit where 60 heads of countries had gathered. That stood out for me. Just two days ago, the three stations broadcasted all day, the meeting of Joe Biden and president of south Korea and that of Japan. The whole day, they told us of the meeting of three people and failed to tell us of the entire world that was meeting in South Africa. That opened a new perspective for me about the west and western media, it was a new low.

[Raymondjohn]

BRICS seeks to create a new currency, considering gold's historical role as a store of value and medium of exchange. However, the functionality and acceptance of a gold-backed currency in the current global financial system are uncertain. Creating a new currency requires careful consideration of economic, political, and logistical factors.

[kelvinjohnson]

Well it's time for the BRICS- New World Order to come up with a default reserve currency or simply go back to gold as the reserve. It will be too chaotic for each country to trade in their respective currencies with the daily change in exchange rates.

[michaellee]

It is not Anti West, It's anti bully and anti exploitation using the SWIFT financial system from the US and the West.

[peterkellermann]

Black, yellow, and white, people of different skin colors; Christianity, Hinduism, Islam, and Buddhism, people of different beliefs, unite today, to break imperialism, neo-colonialism, for human peace, freedom, equality and the future, let's begin people, to stand by them, support them, encourage them, and bless them

[CryptianoOmarYT]

Regrettably, the Western world, notably the United States, has chosen to employ economic might in order to enforce sanctions on those who disagree, leading to great hardship for countless innocent individuals. It is high time to redress the imbalance in currency dominance

[pineapplesareyummy]

It means the Global South is pulling together to support each others' economic progress, and to assert the Global South's rightful interests. One of the most important first tasks is to render all US/Western sanctions on various countries toothless by building alternative financial mechanisms where Global South countries can trade with each other using non-dollars and non-Euros.

[AfricaInVerse]

There was a time when the West was scrambling around Africa, the Middle East, and Asia and they all had conflicting interests - but they came together for mutual benefit. BRICS countries can do the same.

[nadsyakhan]

Long Live BRICS+SIX! The new hope of the world for eonomic survival.❤❤❤

[ramatgan]

Saudi Arabia & Iran are the big ones.
Ethiopia & UAE lightweights.
When Indonesia the World's Biggest Muslim country joins and BRICS can conceive a new WB, IMF, BIS & USD then it is a new dawn. Watching from Somalia!

[normantan]

Simple sentence is: US got nothing in their bargain chips while Brics got half the world in their bargaining chips NOW. Imagine half the world ignore the US and go about doing their own things and stop them from lies, cheats and bullying.

[jerrynaga]

This is great news for the world to be free and choose policies to better their countries interests rather than being forced to choose policies against their interests

[dlfields]

BRICS plus will bring a bright and peaceful future to the world ✊🏿

[MrManny]

He asks a stupid question What is wrong with the IMF and the World Bank, The US exports toilet paper called the dollar and gets all the goods countries work hard to produce, that's what's wrong on top of that they using the toilet paper for sanctions, they thought the toilet paper is a necessity not a privilege,

[kalpanaji]

West is against these countries, not these countries against West.. please change your language

[busoko_Ismail]

Joining strong countries with a huge future, such as the countries of Egypt, China, the UAE and South Africa, will create a global balance of power and a multi-control economy, and this is better for developing countries and emerging markets.

[Shaleqa_Adenan]

Congratulations India 🇮🇳 from your neighbor Ethiopians 🇪🇹! It is about time how our nation will soon use it’s resources for its own citizens. India 🇮🇳 China 🇨🇳 Russia 🇷🇺 Ethiopia 🇪🇹 one of the oldest countries in the world 🌎 and Smartest people

[christyag]

This one is really diverse. All religions and all
Colors ❤

[IndiaTides]

A more inclusive world by the participation of more diverse countries in global governance. A multipolar world with multipolar Asia is the aim.

[chimwemwetembo]

Emerging markets? These countries have already emerged.