The expansion of BRICS reflects a striking shift in the global balance of power.
The BRICS summit in Johannesburg this week represents a potentially significant moment in the shifting, fragmenting world order.
BRICS – an acronym for Brazil, Russia, India, China and South Africa – is an economic bloc made up of the fastest-growing developing countries. From the very moment of its first summit in 2009, this bloc has positioned itself as an alternative to the G7 bloc of advanced economies, made up of Canada, France, Germany, Italy, Japan, the UK and the US.
BRIC’s has been described as a collection of failed states, if so can the G7 be described as a collection of incipient failed states?
