.jpg)
Daisy Luther at Discern Report provides a good overview of the BRICS alliance. Here’s her opener:
BRICS
Is Expanding:
Here’s Why That’s Very Concerning for the US
You may have heard the term “BRICS”
when reading about world affairs and wondered what it was all about. As we watch
the American dollar and economy lose power on the world stage, this alliance
could quickly move to take its place, especially as other countries that used
to be allied with us move over this bloc.
As a matter of opinion, I think
that on the global stage, BRICS is a union we should watch, as there are
several large economic powers involved that aren’t exactly friends of the
United States of America. Should this group continue to grow, it’s possible
that it could dramatically affect us with regard to world trade. And that’s at
the very least.
What is BRICS?
BRICS is an economic alliance that
has been around since about 2001. Jim O’Neill from Goldman Sachs coined the
acronym BRIC to represent the original countries: Brazil, Russia, India, and
China. By 2010, South Africa had been added, bringing us to the current
acronym.
. . .
For many years, the United States
has been a primary global economic power, but as our star shines a little less
brightly due to our economic difficulties, poor governmental management, and less
than stellar relationships with several other countries, BRICS seems poised to
step into the position our nation once held.
. . .
But…the union seems intent on
expanding, and other nations are in the midst of an application process.
Multiple countries have asked to become a part of the bloc.
The nations that have formally
applied for acceptance into the cooperative are:
- Algeria
- Argentina
- Bahrain
- Egypt
- Indonesia
- Iran
- Saudi Arabia
- United Arab Emirates
. . .
Read the rest here.
