The BRICS summit will be held this month and the bloc of five nations will decide on expanding the alliance. The bloc will also discuss the formation of a new currency that could challenge the U.S. dollar’s global reserve status. A total of 22 countries have formally applied to join the BRICS alliance, confirmed Ambassador Anil Sooklal to Bloomberg.
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However, cracks have emerged in BRICS as two countries out of the five, are disinterested in the expansion efforts. The two countries could dismiss expansion and resist becoming BRICS+ at the upcoming summit on August 22 to 24.
2 BRICS Countries Uninterested In Expanding the Alliance
Brazil and India are the two countries that are disinterested in expanding the BRICS alliance to BRICS+, reported Reuters. “An expansion could transform the bloc into something else,” said a Brazilian official on the condition of anonymity to the news outlet.
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India and Brazil are concerned that China is using the BRICS alliance to increase its political clout. The Chinese agenda of gaining power by using BRICS as a stepping stone makes Brazil and India critical of expansion.
A government official from India also spoke on the condition of anonymity that the Modi government has reservations against expansion. “India has reservations about the expansion. If it has to happen, then it needs to happen through consensus.”
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Therefore, both Brazil and India could turn down the expansion efforts at the next BRICS summit in South Africa. China, on the other hand, is eager to induct many countries into the alliance to take on U.S. dollar supremacy.
The contrasting opinions could be visible in the upcoming summit when Brazil and India showcase different plans for the bloc. BRICS is an acronym for Brazil, Russia, India, China, and South Africa and the group aims to turn into BRICS+.