Expansion of BRICS: what are the potential consequences for the global economy?

Bulletin No. 250, article 2. On 1 January 2024, the BRICS group (Brazil, Russia, India, China and South Africa) was expanded to include five new countries. This represents a new phase in the bloc’s development and gives it greater economic and demographic weight. However, the heterogeneity of its members and low trade integration between them limit the group’s ability to influence world trade and the international monetary system. At this stage, the expansion mainly serves to underline the alliance’s attractiveness for emerging and developing countries, ...