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Has BRICS become obsolete?

At their last meeting one of the largest issues the BRICS nations talked about was how to stay relevant in the marketplace today and what they need to do to adapt.  Originally there was only Brazil, Russia, India and China in the group and they added South Africa in 2010.  In more recent years they have invited other emerging market countries to their summits.  The issue with BRICS right now is that Brazil is not the strong emerging market it used to be, Russia is struggling economically and the only reason South America is in is to have influence in Africa.  China and India are the only ones that are not struggling because of their size and are the two most important emerging markets in the world.  The BRICS nations have been overrun by events rather than helping their emerging economies grow and become stronger.  The BRICS nations have transitioned into the CHIPs nations, which stands for China India Plus.  China and India have become the most powerful and influential emerging markets today and will drive the future of BRICS.

Rothkopf, D. (2017, September 11). BRICS Is Obsolete. It Has Been Overtaken by Events. Retrieved November 06, 2017, from http://carnegieendowment.org/2017/09/11/brics-is-obsolete.-it-has-been-overtaken-by-events-pub-73068

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  1. UnknownNovember 25, 2017 at 6:08 PM

    It will be interesting to see the future of BRICS in the next few years. The imbalance of powers may prove to be an issue for this organization. Each nation will have to evaluate wheat they are doing to help their emerging economies grow in order to help BRICS stay relevant.

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