https://www.nytimes.com/2023/08/24/world/europe/brics-expansion-xi-lula.htmlhttps://www.independent.co.uk/news/world/africa/brics-2023-summit-new-members-saudi-uae-iran-b2398553.htmlhttps://www.reuters.com/world/brics-expansion-hopefuls-seek-rebalance-world-order-2023-08-21/Today, at the start of the closing day of the BRICS meeting, the President of South Africa announced an important decision regarding the BRICS acceptance of the invitation of six countries to become new members of the BRICS group. These countries are Egypt, Iran, United Arab Emirates, Saudi Arabia, Ethiopia, and Argentina. He also announced a consensus regarding the first stage of expanding BRICS, so that the membership of new members begins on January 1, 2024, while stressing that the doors of membership will remain open to other countries in the future, such as Algeria and Indonesia, which are not yet ready to join.
With the accession of these countries, the BRICS bloc now includes 46% of the world's population (almost half), with a gross domestic product of 7.2% of the global GDP, which will make it a new engine for the global economy.
Let's discuss the results of this expansion on the global economy and the possible position of the G-7 countries. And do you think that this is the beginning of the formation of a new world order, especially since in the speech of Russian President Vladimir Putin, he had stressed the need to deal with a common currency among the countries of the group in addition to local currencies ?