Good morning! Today, the BRICS alliance grows larger. A new part of the Amazon becomes a carbon source. And keeping up with the Bolsonaros’ legal setbacks.
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BRICS expansion testament to Chinese influence
The BRICS alliance, currently made up of Brazil, Russia, India, China, and South Africa, announced its biggest expansion since it became a formal group with annual meetings in 2009.
- South African President Cyril Ramaphosa, who hosted this year’s summit, confirmed today that Argentina, Egypt, Ethiopia, Iran, the United Arab Emirates, and Saudi Arabia have been invited to join. Their membership would begin in January 2024.
Why it matters. The expansion of BRICS makes sense from a Chinese perspective, as the country seeks to exert more influence globally. Beijing has sought to assert its standing by forming new blocs and signing trade and security pacts. This is especially true as tensions with the U.S. rise.
Like a ton of BRICS. The BRICS have already overtaken the G7 as a percentage of global GDP in purchasing power parity terms. With...