Why BRICS is Overrated

The BRICS coalition encompasses five major economies, Brazil, Russia, India, China, and South Africa, that media outlets often sensationalize. Their potential global impact deserves in-depth analysis to reveal its inner workings, debunk myths, and explore why its member countries might not be as aligned as they initially appear.

From the origins of BRICS to the challenges of consensus building, we unravel the complexities of this economic alliance and examine its true impact on the global economy.

[michaelangelo]

I live in south africa and was at the brics summit here last year and with that I can safely say the only people overrating Brics are the west

[blackman]

True. BRICS is overrated. But i'd be a huge mistake to underrate it as well. Its something of a wild card right now. With correct circumstances and future developments, it could become formidable.

[PhthaloJohnson]

Before, these were just random countries that hated the West. Now, they have their own organization. Some countries feel represented as BRICS members, the way they've not done before. BRICS also gives Russia a platform and gives them some international recognition. So no, BRICS is not entirely useless.

[nicolasbenson]

It's interesting to learn more about the discussions and proposals around BRICS nations and their potential use of gold. There are several reasons why people may choose to buy gold, including its historical use as a store of value and means of exchange, its potential as a hedge against inflation or currency devaluation, and its relative scarcity compared to other commodities.
Additionally, gold can offer diversification benefits to investment portfolios, as it tends to have a low correlation with other asset classes like stocks and bonds. However, it's important to note that investing in gold carries risks and may not be suitable for everyone. and investors should carefully consider their investment objectives, risk tolerance, and financial situation before making any decisions

[ChrisInvestingAmateur]

Great video Aaron. I think BRICS is only overrated if one's expectations of them too high. In today's society people want instant gratification, but BRICS is playing the long game, think death by 1, 000 papercuts. The movement of using local currencies is building momentum against the dollar, slowly but surely

[abdeo]

BRICS will go the way China- India relationship will go. They are by far the most important and consequential countries next 100 years. For thousands of years they have coexisted without much issues. It’s only recent past the conflict has arisen between them. If they can get on the same terms they can re-define the world power structure if not it will be more of the same

[SARodriguez-kwwl]

Is that because they are making literally The US dollar Worthless?😅

[abhishektiwari_ind]

still over 30 countries want to join the BRICS, they must've seen something good to be eager to join I guess.

[christianbolisca]

I think the reason people, in Africa for example, have faith in BRICS despite the criticism is because they have bitterness over western influence.

[DipJyotiDeka]

BRICS could never reach its full potential only because the nations themselves are competing rather cooperating with each other.

[Ash-epnz]

G7 started in 1973.. BRICS is a baby by comparison. They are not rushing. BRICS is more like a futuristic organization and the groundwork is being done now. It will be much more effective 10-15 years from now as we are moving towards a multipolar world. And a new world order takes time to build or settle. De dollarization itself would take several years.

I think a framework is being build where all BRICS countries can keep their differences aside to work together. A new world order is always preceded by uncertainty and chaos ( like we have it now with so many wars breaking out ). I believe 8-10 years from now the picture will be somewhat more clear where the world is headed.

[χσχσ-νχ]

The only thing that can hamper BRICS is india china dispute rest all u said is utter BS, u don't even know that trade between india and russia is more than 40 bn ( oil purchase and other things after ukraine war), u r pointing out china has 40x bigger economy than SA but u didn't mention that usa is more than 13x in size compared to Italy or canada, moreover india is poised to reach 10 trillion mark by 2032, but as i said only thing that will hinder brics is ind, china border dispute

[Hmez]

I find it a but interesting that only g7 countries make videos about other groupings not the other way around

[indiafirst]

BRICS doesn't have to be militarily united or even agree on a common currency to end the Dollar hegemony. BRICS is a platform which enhances bilateral trade among Global South countries. It helps a country to get familiar with each other's economy/currency and thereby increase the bilateral trade between the bloc. BRICS in a way increases your trading options, makes your economy more diversified and hence less vulnerable to unilateral sanctions. In this way BRICS gives even a small country a confidence to act independently on a geopolitical front

[abhishekbhattacharjee]

U will get to know if it's overrated or not by the end of 2024 when the BRICS Summit will be held in Russia where the new gold backed BRICS currency will be introduced and adopted by many countries ditching the US dollar.

[AmandaUK-nv]

I do not fully agree with this analysis

[princeshiang]

You pretend not to be scared of Brics. Pointing only disadvantages doesn't make Brics weak. The reality is that the dedollarisation has already started.

[ManfromMars-hhm]

As a student of international relations, i totally agree with you..
Members of BRICS don't have common interests even their interests collide with each other....
On other hand I think QUAD(Indian, Australia, Japan and USA)is more strong.
They share common Trade, common military interests and additionally Geography of these 4 countries as they form a water quadrilateral..
But In future interest may change but it's 99% sure that India can't have common interest with china ...

[jamesbridger]

Ah, yes. A coalition of corrupt oligarchies and flawed democracies, some of which are experiencing economic recession and even rolling blackouts (in South Africas case) can definitely challenge a well established western economic and miliary power that basically manages and protects all global trade.

[MrIlleism]

These countries are very tribal still, they're divided on a country level, how will they conquer on a global level?