[imagesource:bricsza]

Political analysts and conspiracy theorists might both prove to have a point as they bleat about the ‘end of western hedgemony’ and ‘a new world order’ as six more countries are set to join the BRICS party.

Argentina, Ethiopia, Iran, Saudi Arabia, the United Arab Emirates and Egypt will join the BRICS formation on 1 January 2024.

President Cyril Ramaphosa, the 2023 chairperson of BRICS, made the announcement on Thursday morning during a session that brings the summit to a close.

A key attraction of the group is the New Development Bank, created in 2015, with the aim of offering an alternative to the World Bank and the International Monetary Fund. Current BRICS members – Brazil, Russia, India, China and South Africa – make up a quarter of the global economy, account for a fifth of global trade, and are home to 40% of the world’s population.

BRICS is a diverse group of nations.

It is an equal partnership of countries that have differing views but a shared vision for a better world.

As the five #BRICS members, we have reached agreement on the guiding principles, standards, criteria and procedures of the #BRICS…

— Cyril Ramaphosa 🇿🇦 (@CyrilRamaphosa) August 24, 2023

There are conflicting opinions on whether BRICS is creating a serious alternative to the current ‘world order’ that seems to have outlived its relevance and influence. Either way, we seemed to have nailed our colours to the mast.

[source:x/cyrilramaphosa/news24]