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Still, BRIC alliance leaders assert they and developing nations are tired of America's dominance. In 2023, some of its members started using the Chinese Yuan and the Russian ruble in its trading.
MOSCOW (Reuters) -The BRICS group will generate most of the global economic growth in the coming years thanks to its size and relatively fast growth compared with that of developed Western nations ...
BRICS Tower headquarters in Shanghai. The term BRIC was originally developed in the context of foreign investment strategies. It was introduced in the 2001 publication, Building Better Global Economic BRICs by Jim O'Neill, then head of global economics research at Goldman Sachs and later Chairman of Goldman Sachs Asset Management.
The expansion of Brics is seen as a win for Mr Xi, who is trying to boost Beijing’s global clout by courting nations that share similar views on the US dominance of world affairs.
The expansion adds economic heft to Brics whose current members are China, Brazil, Russia, India, and South Africa as the world enters a new period of turbulence and transformation, experts tell ...
[6] [7] BRICS nations endorse reform of the UN and Security Council and the full participation of the State of Palestine in the United Nations, contingent upon the two-state solution. [8] BRICS nations consented to deliberate and investigate the feasibility of creating an autonomous cross-border settlement and depository system.
The 2023 BRICS summit was the fifteenth annual BRICS summit, an international relations conference attended by the heads of state or heads of government of the five member states: Brazil, Russia, India, China, and South Africa. [2] [3] South African President Cyril Ramaphosa also invited the leaders of 67 countries to the summit. [4]
The BRICS group — named after its five founding members, Brazil, Russia, India, China and South Africa — has become a broader grouping of non-Western countries that wants to stay out of ...