BRICS leaders meet in South Africa as bloc weighs expansion
Leaders from the BRICS nations, comprising Brazil, Russia, India, China, and South Africa, are convening for a summit in Johannesburg, where discussions will center on the potential expansion of the bloc.
The backdrop of heightened global tensions, driven by events such as the Ukraine conflict and the escalating rivalry between China and the United States, has added urgency to the need for the BRICS alliance to solidify. This move comes as the bloc has faced challenges due to internal divisions and a lack of a unified vision at various points in its history.
South African President Cyril Ramaphosa highlighted the significance of expansion in his address preceding the meetings. He emphasized that an expanded BRICS would encompass a diverse group of nations with varying political systems but a shared goal of promoting a more balanced global order.
One of the items on the summit's agenda is the promotion of the use of member states' local currencies in international transactions. However, South African organizers have clarified that there will be no discussions regarding the establishment of a BRICS currency, a proposal put forward by Brazil earlier in the year as an alternative to dependence on the U.S. dollar.
China, a prominent player within the bloc, has long advocated for expansion, believing that a broader membership would enhance the influence of the BRICS, which already represents approximately 40% of the world's population and a quarter of global GDP.
During the summit, leaders will participate in a mini-retreat and dinner, during which they are expected to explore a framework and criteria for admitting new countries into the alliance.
South African officials have reported that over 40 countries have expressed interest in joining the BRICS, with nearly two dozen formally requesting admission. This development underscores the growing significance of the BRICS alliance on the global stage.
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