The Indicator from Planet Money The hottest multilateral club doesn't include the US
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Jul 29, 2025 BRICS, the dynamic alliance of emerging economies, recently convened to tackle pressing global issues like health and law. With rising tensions between BRICS and the U.S., the podcast dives into the historical context of their formation and questions Western dominance in international trading bodies. Featuring insights from the economist who coined the term 'BRICs', it highlights the contrasting goals of BRICS and the G7. As this alliance gains traction, its influence in reshaping global economic leadership is becoming increasingly significant.
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Inclusion of Emerging Economies
- Jim O'Neill stresses the importance of including countries driving global growth in international discussions.
- Excluding such countries limits the ability to solve truly global problems.
China's Role in Asian Financial Crisis
- During the 1997 Asian financial crisis, China played a key role by contributing billions to help stabilize the region.
- This involvement signaled China's rising importance beyond the traditional economic powers.
Jim O'Neill's 9/11 Impact
- Jim O'Neill personally experienced the September 11 attacks impact in 2001, which affected his perspective on global politics.
- This event led him to conclude the world was tired of American dominance and influence.