The BRICS alliance, an association of the five major emerging economies of Brazil, Russia, India, China, and South Africa, is witnessing an increasing number of nations showing interest in joining its ranks.

The BRICS alliance, an association of the five major emerging economies of Brazil, Russia, India, China, and South Africa, is witnessing an increasing number of nations showing interest in joining its ranks.

  • Docus@lemmy.world
    92·
    1 year ago

    Global powerhouse? Wonder what the combined GDP of this ‘alliance’ is.

    • knfrmity@lemmygrad.ml
      93·
      1 year ago

      You don’t have to wonder, the information isn’t hard to find.

      The five BRICS countries overtook the G7 in terms of unadjusted GDP earlier this year, contributing about 31% to the global total vs. 30% from the G7. BRICS are expected to reach 50% by the end of the decade. In terms of purchasing power parity they were already equal in 2021. The five BRICS countries also make up 40% of the global population.

      Now add the GDP, populations, and growth prospects for the thirty or so applicant nations on top of that, as well as how much more robustly they can grow once they get out of the shadow of the US empire.

      BRICS is a big deal, especially now that the US and it’s vassals are otherwise occupied, allowing the age of multipolarity and dedollarization to come even more quickly than anticipated.