Hey folks, big news from Rio de Janeiro! The vibrant city is all set to host the 17th BRICS Summit from July 6 to 7, where global leaders will gather to champion a voice for the Global South. It’s like watching a teenager step into their prime – the BRICS model of inclusive cooperation is truly coming of age! 🎉
Here's a quick rewind: what began as a concept in a 2001 Goldman Sachs thesis has transformed into a powerhouse. Initially, Brazil, Russia, India, and China laid the foundation. With the addition of South Africa in 2010 and an expansion in 2024, the bloc now includes full members from Egypt, Ethiopia, Indonesia, Iran, and the UAE. Today, BRICS represents over 40% of the world’s population and covers about 35% of the global land area.
Economic forecasts are equally impressive. While early estimates predicted a smaller share, current projections expect BRICS nations to contribute 41% of global GDP in purchasing power parity by 2025. Moreover, with the group accounting for 24% of international trade exchanges and an IMF growth projection of 3.4%—compared to the 2.8% global average—BRICS continues to outpace global trends.
Beyond the statistics, BRICS has evolved into a symbol of multipolarity and balanced growth. It stands as a reminder that diverse partnerships can drive a fairer, more inclusive future. As Rio plays host to the summit, this landmark event is not just a meeting of leaders but a celebration of youthful energy and dynamic global teamwork.
Reference(s):
cgtn.com
