Will BRICS expand with new 20 countries in 2025?

- Advertisement -

Global (Commonwealth) _In 2025, the number of countries submitting applications to become part of the BRICS alliance is increasing. The bloc has attracted developing countries because it offers payment methods other than the US dollar for trade settlements.

Emerging economies may have the opportunity to boost their overall GDP by using their indigenous currencies for cross-border commerce. Additionally, they want to stop relying on the US dollar to help their native currency gain traction in the foreign exchange markets.

Some Westerners view the rise of BRICS+ as a sign of something much more sinister: a world that is breaking up into hostile blocs due to the growing geopolitical rivalry between the East and the West and the developing estrangement between the North and the South.

This interpretation holds that Beijing and Moscow intend to use some nations’ animosity toward the US and its wealthy allies to forge an anti-Western counterweight to the venerable Group of 7 (G7). This move is likely to stymie international collaboration in other multilateral settings. The Group of 20’s (G20) future is especially concerning. It had already turned into a microcosm of widening global divisions prior to the BRICS’s growth.

Getting even more divided would go against the G20’s main goal, which is to help close the gaps between and make the most of the strengths of major nations that are not always or inherently similar.

While these concerns are real, it’s important to keep them in context. In a world system that was largely created by the West, for the West, the BRICS development undoubtedly reflects a rising discontent with and will to challenge the structural advantages that advanced market democracies still enjoy. The core goal of BRICS+ is to curtail those excessive advantages, including by establishing substitute, parallel organizations.

But because the coalition is so diverse and because key middle-income countries need to be able to change their diplomatic positions in the G20 and other multilateral settings, it is unlikely that rigid blocs like those in the Cold War will form.

Instead of attacking the current global order head-on, BRICS+’s final effects are probably going to be more gradual and quantified. It will give a variety of developing and middle-sized countries a way to further their (often) similar goals and a chance to experiment—or “bricoler,” as the French would say—with the institutions and regulations of the multilateral system.

The US and its Western allies may be able to make it more likely for things to go smoothly if they avoid confrontation and alarmism and instead take real steps to address developing countries’ valid complaints and help them reach their reasonable goals.

G20, G7, and BRICS


BRICS (and now BRICS+) shows that a lot of important new players think the rules-based, Western-dominated international order, which is the basis for international economic governance, is mostly out of date and doesn’t work in their favor.

Given this, it is ironic that Jim O’Neill, a banker at Goldman Sachs, came up with the acronym itself. He made the well-known prediction in 2001 that the “BRIC” nations—Brazil, Russia, India, and China—were set to propel world economic expansion over the ensuing ten years.

The bloc’s efforts to establish a worldwide reserve currency that would lessen reliance on and possibly eventually replace the US dollar have not been as effective.

BRICS members promised at last year’s summit to look into the possibility of creating a single currency. But these moves away from the dollar face “serious headwinds,” such as the dollar’s strong position in international trade, currency exchange, commodities markets, and debt denomination; the fact that BRICS central banks don’t have the financial infrastructure to do business in currencies other than dollars; and the fact that the renminbi can’t be changed into other currencies yet.

As a result, the BRICS nations have concentrated on ways to diversify their currency reserves and promote investment and trade in local currencies. If BRICS admits these membership applications, this will be a crucial factor in shaping a new system, especially in terms of the economic aspect.

Hot this week

Unlocking the World: 35 Countries Indians Can Now Visit Without a Visa!

India (Commonwealth Union)_ Indian passport holders can now enjoy...

Shock and Sorrow as Namibia’s Founding Father Sam Nujoma Passes Away – His Legacy Revealed!

Sam Nujoma, the founding president of independent Namibia, has...

India-US Ties in Trump 2.0: On a ‘’Trusted Partnership’’ Trajectory

Introduction India-US relations have been in a sweet spot since...

Nigeria’s Hidden Fortune: Can the Government Cash In on Its Abandoned Assets?

Africa (Commonwealth Union) _ Across Nigeria, countless government-owned assets...

Interest Rates, Jobs, and Recession: Why Australia and New Zealand Are on Opposite Paths!

Despite experiencing a decline in inflation, Australia and New...
- Advertisement -

Related Articles

- Advertisement -sitaramatravels.comsitaramatravels.com

Popular Categories