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The rise of BRICS

BRICS is an acronym for Brazil, Russia, India, China and South Africa. It was supposedly coined by the Chief Economist of Goldman Sachs in 2001, as a reference to the world’s emerging economies. It was then known as BRIC, with the ‘S’ added later, when South Africa formally joined the group in 2010. The geopolitical global conflict, thus shifts, resulting from the Russia-Ukraine war, however, proved to be the driving force behind the massive expansion underway at BRICS, especially as financially powerful countries began showing interest in the initiative. They include Argentina, UAE, Mexico, Algeria and, particularly, Saudi Arabia. Is BRICS likely to be the new world superpower ?

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