Reportedly, encouraged by BRICS success on the economic and geopolitical fronts, a growing number of countries in the Global South consider it as an attractive agent of multilateralism. South African President Cyril Ramaphosa formally announced BRICS expansion, and now Iran, Saudi Arabia, Egypt, the UAE, Argentina and Ethiopia will join BRICS. Overtly this seems to be an attempt to reshape the global world order and provide a counterweight to the US and its allies. Xi had leading the demand admitting new members, thus shaping-up an enlarged BRICS as a way for the Global South to have a stronger voice in world affairs. According to Hippolyte BRICS countries are already making strides in the use of local currencies in cross-border transactions.

Source: The North Africa Journal August 28, 2023 12:28 UTC