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BRICS is about to become a major threat to G7

BRICS is about to become a major threat to G7

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TL;DR

  • BRICS has expanded to include Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE.
  • The revamped BRICS now covers 47% of the global population and 37% of its GDP.
  • This expansion poses a significant challenge to the influence of the G7.
  • Beijing aims to use this enlarged bloc to reform major international institutions.

If the tides of global influence were already shifting, the expansion of the BRICS alliance just might have initiated a tsunami.

The revamped BRICS, which once encapsulated Brazil, Russia, India, China, and South Africa, now boasts an added muscle with the inclusion of nations like Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates.

This bold move doesn’t just suggest a change; it’s a blatant challenge to the G7’s long-standing dominion.

The Numbers Don’t Lie: BRICS vs. G7

With this new structure, BRICS is no longer the underdog. A staggering 47% of the global populace now falls under its umbrella, coupled with 37% of the world’s gross domestic product.

If you stack that against the G7, which holds influence over merely 9.8% of the world’s population and 29.8% of its GDP (excluding the EU), it’s clear who the new heavyweight is.

But it doesn’t end with population and GDP. With the lion’s share of the planet’s oil, gas reserves, and a colossal repository of other natural resources, BRICS has resources to back its claims. Beijing, the force behind this seismic shift, isn’t only looking for bragging rights.

They have a vision: to rejuvenate international institutions that have been stagnant for too long. This includes titans like the World Bank, the IMF, and the UN. The endgame? Amplify the voice of developing nations that have long been sidelined.

Challenges Ahead: Unity or Just a Facade?

While on the surface, the expansion of BRICS seems like a cohesive front against the G7, the internal dynamics are complex. The consortium is a medley of contrasting political and economic perspectives.

From democracies to autocracies, from nations that champion non-alignment to those vociferously anti-west, the spectrum is vast. Amidst these differences, the looming question remains: Will the member nations maintain their sovereignty, or will they inadvertently turn into satellites, orbiting around China’s colossal presence?

It’s also worth noting that not all members of the new BRICS are on an upward trajectory. Some nations are enjoying a renaissance, while others seem to be in a downward spiral.

Take, for instance, the recent attempts by two of its members to touch the moon. India basked in success, whereas Russia plummeted into yet another debacle, further deepening its international isolation due to its ongoing conflict in Ukraine.

However, regardless of these intricate dynamics, the new and improved BRICS stands tall as the most potent force the developing world has ever marshaled.

This isn’t just about geopolitical power play; it’s a symbol of a rising ‘global south’. After years of playing second fiddle, adhering to the dictates of the West, a new epoch is on the horizon.

Bottomline is while the road ahead is fraught with complexities and potential rifts, the sheer audacity of this new alliance is undeniable. BRICS, in its invigorated form, isn’t just here to compete; it’s here to lead.

The G7, and indeed the world, should take notice. The balance of power is shifting, and the tremors will be felt globally.

Disclaimer: The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

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Jai Hamid

Jai Hamid is a passionate writer with a keen interest in blockchain technology, the global economy, and literature. She dedicates most of her time to exploring the transformative potential of crypto and the dynamics of worldwide economic trends.

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