Title: The Expansion of the BRICS: A New World Order in Perspective
Introduction :
Since their creation, the BRICS (Brazil, Russia, India, China, South Africa) have gained in influence and economic power. Recently, six new countries decided to join this select club, heralding an unprecedented expansion. The addition of Iran, Argentina, Egypt, Ethiopia, Saudi Arabia and the United Arab Emirates raises many questions about the future of the global economic landscape and the ambitions of the BRICS. In this article, we will analyze the consequences of this expansion and the possible changes it could bring.
The BRICS New World Order:
From January 2024, the date of official entry of the six new countries, the BRICS will represent nearly 36% of the world’s surface area, with a territorial area of 48.5 million square kilometers. This is more than twice that of the G7, the group of most industrialized countries. In addition, the BRICS will have 3.6 billion inhabitants, or 45% of the world’s population, thus establishing their demographic dominance. This expansion also brings a significant share of world oil reserves, with a weight of 44.35%.
Economic benefits and challenges:
In terms of industrial production and the metals needed for high technology, the BRICS have undeniable advantages. They account for 79% of aluminum production and 77% of palladium production respectively, far surpassing the G7. However, despite this economic power, the BRICS still face the challenge of boosting their exports. The G7 occupies a higher share in this area, with 28.8% of world exports against 23.4% for the BRICS. It is therefore essential that new members of the club put in place effective economic strategies to meet this challenge and increase their presence on the international scene.
Geopolitical and geoeconomic implications:
The expansion of the BRICS will have considerable implications for the global geopolitical and geoeconomic balance. The declared will of these countries to free themselves from Western hegemony and to promote the de-dollarization of the world economy challenges the established order. This expansion also reinforces the idea of a new multipolar world order, where the BRICS will play a leading role alongside Western countries. In addition, the accession of Saudi Arabia and the United Arab Emirates strengthens economic cooperation between the Gulf countries and emerging powers, thus creating new strategic alliances.
Conclusion :
The expansion of the BRICS with the arrival of six new members marks a turning point in global economic balances. The new BRICS represent a considerable area and population, as well as a significant share of energy resources. However, economic challenges remain, particularly in terms of exports. This expansion also raises geopolitical and geoeconomic questions about the establishment of a new multipolar world order. It will be interesting to follow the evolution of this club and see how these countries shape the future of the world. The BRICS have taken a new turn and the consequences of this expansion cannot be ignored