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Geopolitical Economy Report
BRICS expands with 9 new partner countries. Now it's half of world population, 41% of global economy
Dec 24, 2024
The recent expansion of BRICS adds 9 new partner countries, boosting its influence to represent half of the global population and over 41% of world GDP. The podcast dives into BRICS' agricultural and energy dominance, highlighting its role in global food production. It also discusses the group's strategies to challenge US economic hegemony with a potential multi-currency system. Insights into the contrasting economic structures of BRICS and the US reveal a shift towards local currency trading and reducing reliance on the US dollar.
22:35
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Quick takeaways
- BRICS has expanded to include nine partner countries, now representing half of the global population and over 41% of the economy.
- The organization is striving for economic independence through de-dollarization and alternative financial systems to reduce U.S. influence.
Deep dives
Expansion and Influence of BRICS
BRICS has rapidly expanded since its inception in 2009, now comprising nine full members and numerous partner countries. Recently, four new countries—Egypt, Ethiopia, Iran, and the United Arab Emirates—joined as full members, with nine additional countries potentially becoming partners by January 2025. This growth reflects BRICS' increasing significance as a global player, particularly in Asia and Africa, where its influence continues to strengthen. This collective composition now represents over 41% of the global economy and a considerable portion of the world population, demonstrating BRICS' strategic role in international affairs.
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