BRICS was formed in 2009 and consisted of five original founding members Brazil, Russia, India, China, and South Africa. After nearly 14 years of its existence, the alliance saw an expansion after it invited six new countries to join the bloc in 2023. It invited Saudi Arabia, the UAE, Argentina, Egypt, Iran, and Ethiopia last year. Moreover, Argentina declined the membership as the newly-elected President Javier Milei is skeptical about the bloc.
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On the other hand, Saudi Arabia has yet to provide its decision and has kept the joining on hold. BRICS has always been touted to be a group of consensus and all decisions are made with combined efforts. However, that doesn’t seem to be the case as, in reality, China continues to dominate the majority of BRICS decisions. On paper, the grouping talks about consensus but in reality the opposite gains the upper hand.
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BRICS: China Dominates The Alliance
Most of the trade and commerce between BRICS members has remained China-centric. From making other countries ditch the US dollar and making them pay in the Chinese Yuan, the Communist country has managed to put its local currency ahead. This miffed India previously as the Modi government believes China is taking undue advantage of BRICS. India had stopped buying oil from Russia by paying the Chinese Yuan and opted for US oil instead.
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Coming to inducting new countries, China is gaining the upper hand in the decision-making process. The Communist country is inviting nations that can benefit it and not the alliance as a whole. BRICS would have never invited Iran to join the alliance if it wasn’t for China.
China is looking to make developing countries join BRICS and start using the Chinese Yuan for cross-border payments. Other members believe that China is using the bloc as a stepping stone to further its global domination agenda. Read here to know how many sectors in the US will be affected if China makes other countries ditch the dollar.