The BRICS bloc expands its influence with new members, aiming to challenge Western dominance and reshape the global economic and political landscape.
Leaders of China , Russia , India and other BRICS nations gathered in Kazan, Russia on Tuesday for the bloc’s first annual summit since its major expansion last year. In August 2023, the group decided to invite six nations to join. Four of these nations – Egypt, Ethiopia, Iran and the United Arab Emirates – formally joined the bloc on January 1, 2024. Argentina rejected the offer and Saudi Arabia is still considering it.
” As Richter shows in the chart below, the new, expanded BRICS represent roughly 45 percent of the world’s population and 35 percent of global GDP when measured at purchasing power parity. You will find more infographics at Statista With the addition of Iran and the United Arab Emirates, the bloc has grown its combined oil production by nearly 50 percent and now accounts for almost 30 percent of global oil output, according to the Energy Institute.
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