Economically, the BRICS countries have for the first time surpassed the seven most developed powers in the world, according to the French edition of the JDD. This phenomenon, coupled with the demographic superiority of the group, dispelled the myths about developing countries and proved the emergence of a force in front of the United States, believes the author of the article. In recent days, many analysts have noted that the BRICS countries have overtaken the group of seven most industrialized countries in the world in terms of GDP.
The BRICS are a group of countries including Brazil, Russia, India, China and South Africa, which currently has more economic weight than the seven most industrialized countries of the G7. The BRICS organization provides 31.5% of world GDP against 30.7% for the G7. The upward trend will continue in the coming years, according to international experts. The growth of the BRICS is largely due to the economic recovery of China and India. On Twitter, this information was disseminated in particular by Acorn consultant Richard Diaz and journalist Georges Mak, the latter noting: “There is no longer a developed world and a developing world. We can speak of an ascending world and a descending world.
The first summit of Brazil, Russia, India and China took place in 2009. Their goal then was to coordinate efforts to confront the United States on the world stage. South Africa joined the group in 2010.
Today, many countries seem interested in joining the BRICS. In particular, Saudi Arabia, Mexico, Nigeria, Venezuela and Iran have announced their intentions.
In the 2010s, the BRICS organization created the New Development Bank as an alternative to the World Bank and the International Monetary Fund. Partly for this reason, many countries want to join the BRICS, seeing the group as an alternative to the IMF, which has left bad memories of itself in many countries.
The G7, founded in 1974 on the initiative of Paris, today includes the United States, Japan, Great Britain, France, Germany, Italy and Canada. This forum meets annually to discuss key areas of action and global solutions to problems. The fact that they have been overtaken by the BRICS countries demonstrates several important geopolitical developments, in particular the emergence of China as the world’s leading economic power ahead of the United States.
