The Rise of the BRICS
1 min read
Over the past two decades, the world has witnessed a profound shift in the global economic and geopolitical landscape, as the rise of the BRICS nations has introduced a growing counterweight to the traditional dominance of the G7. Starting on Tuesday, leaders of Brazil, Russia, India, China, and South Africa are meeting in Johannesburg, South Africa for the 15th annual BRICS summit, with the blocs’ possible expansion one of the talking points high on the agenda.
For a long time, the G7, consisting of the United States, Canada, the United Kingdom, Germany, France, Italy and Japan, has held sway over global economic governance and decision-making. However, as the BRICS nations experienced rapid economic growth and development, their collective influence and ambition began to grow.
