The BRICS countries: The world's most important emerging economies

The BRICS countries: The world's most important emerging economies

The 15th BRICS summit is set to take place in Johannesburg, South Africa, on August 22-24, 2023. This year's summit will be particularly significant, as it will be the first since Russia's invasion of Ukraine. The war in Ukraine has had a major impact on the global economy, and it is likely to be a major topic of discussion at the summit. BRICS is a group of five emerging economies: Brazil, Russia, India, China, and South Africa. The group was formed in 2009 with the goal of promoting economic cooperation and development. BRICS has since become a major force in the global economy, representing over 40% of the world's population and 24% of global GDP. There is growing interest in expanding BRICS to include other countries, such as Argentina, Egypt, and Saudi Arabia. China is a leading proponent of BRICS expansion, while India and Brazil have expressed some reservations. The expansion of BRICS would pose a number of challenges, including the need to maintain efficiency and avoid …