BRICS+ News and Analysis

In an age defined by shifting global tides and the emergence of new economic powerhouses, the world finds itself at a crossroads. The dynamics of international relations, economics, and geopolitics are undergoing a profound transformation, challenging established norms and reshaping the contours of global influence. In this ever-evolving landscape, one term stands as a symbol of change, promise, and potential: BRICS.

Comprising Brazil, Russia, India, China, and South Africa, these five nations have coalesced into a formidable coalition, wielding the potential to redefine the global economic order.

As we embark on the journey through the chapters of this book, we delve into a realm of exploration, analysis, and foresight.

🥴🥴🥴US Debt Spiral: How Much Longer Can America Keep Borrowing?

You can see in 2 minutes how US debt grow every year, please leave a comment and subsribe if you like

G7 vs BRICS

G7 & BRICS Real GDP Growth Forecasts for 2024

The International Monetary Fund (IMF) has released its real gross domestic product (GDP) growth forecasts for 2024. While global growth is projected to stay steady at 3.2%, many major nations are seeing declining forecasts. Let's dive into the details and see what this means for the G7, BRICS, and other significant players.

Overview of the 2024 Forecasts

This chart visualizes the 2024 real GDP growth forecasts using data from the IMF’s 2024 World Economic Outlook for G7 and BRICS member nations, along with Saudi Arabia, which is still considering an invitation to join the bloc.

Key Insights from the IMF’s World Economic Outlook

Are you interested in a visual breakdown of the insights from the IMF’s 2024 World Economic Outlook report? You can get the full dispatch of charts and detailed analysis.

Mixed Economic Growth Prospects for Major Nations in 2024

Economic growth projections by the IMF for major nations are mixed. Most G7 and BRICS countries are forecasted to experience slower growth in 2024 compared to 2023. However, there are some exceptions:

Saudi Arabia, the UAE, and South Africa are expected to have higher projected real GDP growth rates in 2024 than in 2023.
China and India are forecasted to maintain relatively high growth rates in 2024 at 4.6% and 6.8%, respectively. However, this represents a slowdown compared to the previous year, with China growing 0.6 percentage points slower and India an entire percentage point slower.
On the other hand, four G7 nations, including Germany, are set to grow faster than last year, with Germany making a comeback from its negative real GDP growth of -0.3% in 2023.

Faster Growth for BRICS than G7 Nations

Despite mostly lower growth forecasts for 2024 compared to 2023, BRICS nations still have a significantly higher average growth forecast at 3.6% compared to the G7 average of 1%. While the G7 countries’ combined GDP is around $15 trillion greater than that of the BRICS nations, the higher growth rates and potential for expansion suggest that BRICS could overtake the G7 in economic size within two decades.

BRICS Expansion Stutters Before October 2024 Summit

BRICS' recent expansion has faced some hurdles. Argentina's newly-elected president, Javier Milei, declined the bloc's invitation, and Saudi Arabia clarified that it is still considering its invitation and has not joined yet. Despite these challenges, South Africa's Foreign Minister Naledi Pandor reported in February that 34 different countries have submitted applications to join the growing BRICS bloc.

Any changes to the group are likely to be announced leading up to or at the 2024 BRICS summit, which takes place from October 22-24 in Kazan, Russia.

Stay tuned for more updates and in-depth analysis on these economic trends! Don't forget to like, comment, and subscribe for more insightful content.

Thucydides Trap

3 mag 2024 05:38

In certain academic circles within the United States, the Peloponnesian War has been intriguingly embraced as a metaphor for the complex and evolving competition between the United States and China over the past decade. This historical analogy, often referred to as the Thucydides Trap, has gained prominence due to its relevance in understanding the dynamics of power shifts between an established and emerging power. The Thucydides Trap, coined by Professor Graham Allison and researchers from the Belfer Center for Science and International Affairs at Harvard University, draws parallels between the ancient conflict and the contemporary tensions between the US and China.

The hand of Goldman and Sachs

2 feb 2024 05:03

Let's delve deeper into the context and the impact of Jim O'Neill's predictions regarding the BRIC economies and Goldman Sachs' role:

How born the BRICS

2 feb 2024 04:58

The acronym "BRIC" was coined in 2001 by Jim O'Neill, the chief economist of the American investment bank Goldman Sachs. It was used to refer to four emerging economies that O'Neill identified as having high potential for investment due to their rapid development. The four countries included in BRIC were Brazil, Russia, India, and China.

Thucydides Trap

3 mag 2024 05:38

In certain academic circles within the United States, the Peloponnesian War has been intriguingly embraced as a metaphor for the complex and evolving competition between the United States and China over the past decade. This historical analogy, often referred to as the Thucydides Trap, has gained prominence due to its relevance in understanding the dynamics of power shifts between an established and emerging power. The Thucydides Trap, coined by Professor Graham Allison and researchers from the Belfer Center for Science and International Affairs at Harvard University, draws parallels between the ancient conflict and the contemporary tensions between the US and China.

The hand of Goldman and Sachs

2 feb 2024 05:03

Let's delve deeper into the context and the impact of Jim O'Neill's predictions regarding the BRIC economies and Goldman Sachs' role:

How born the BRICS

2 feb 2024 04:58

The acronym "BRIC" was coined in 2001 by Jim O'Neill, the chief economist of the American investment bank Goldman Sachs. It was used to refer to four emerging economies that O'Neill identified as having high potential for investment due to their rapid development. The four countries included in BRIC were Brazil, Russia, India, and China.

Thucydides Trap

3 mag 2024 05:38

In certain academic circles within the United States, the Peloponnesian War has been intriguingly embraced as a metaphor for the complex and evolving competition between the United States and China over the past decade. This historical analogy, often referred to as the Thucydides Trap, has gained prominence due to its relevance in understanding the dynamics of power shifts between an established and emerging power. The Thucydides Trap, coined by Professor Graham Allison and researchers from the Belfer Center for Science and International Affairs at Harvard University, draws parallels between the ancient conflict and the contemporary tensions between the US and China.

The hand of Goldman and Sachs

2 feb 2024 05:03

Let's delve deeper into the context and the impact of Jim O'Neill's predictions regarding the BRIC economies and Goldman Sachs' role:

How born the BRICS

2 feb 2024 04:58

The acronym "BRIC" was coined in 2001 by Jim O'Neill, the chief economist of the American investment bank Goldman Sachs. It was used to refer to four emerging economies that O'Neill identified as having high potential for investment due to their rapid development. The four countries included in BRIC were Brazil, Russia, India, and China.

Thucydides Trap

3 mag 2024 05:38

In certain academic circles within the United States, the Peloponnesian War has been intriguingly embraced as a metaphor for the complex and evolving competition between the United States and China over the past decade. This historical analogy, often referred to as the Thucydides Trap, has gained prominence due to its relevance in understanding the dynamics of power shifts between an established and emerging power. The Thucydides Trap, coined by Professor Graham Allison and researchers from the Belfer Center for Science and International Affairs at Harvard University, draws parallels between the ancient conflict and the contemporary tensions between the US and China.

The hand of Goldman and Sachs

2 feb 2024 05:03

Let's delve deeper into the context and the impact of Jim O'Neill's predictions regarding the BRIC economies and Goldman Sachs' role:

How born the BRICS

2 feb 2024 04:58

The acronym "BRIC" was coined in 2001 by Jim O'Neill, the chief economist of the American investment bank Goldman Sachs. It was used to refer to four emerging economies that O'Neill identified as having high potential for investment due to their rapid development. The four countries included in BRIC were Brazil, Russia, India, and China.

Relevant Articles

Brics now expanding in the wrong way?

It may seem like good news that the Brics (Brazil, Russia, India, China, and South Africa) group will expand to include Saudi Arabia, Iran, the United Arab Emirates, Ethiopia, Egypt, and Argentina. An 11-strong Brics+ could be more representative of the world's emerging economies, providing a useful counterweight against American hegemony.

Yet, in many ways, the announced enlargement represents a major lost opportunity. The world does not need more countries to fall under Chinese and Russian influence, or to align against the US; rather, it needs a genuinely independent third grouping to provide a counterweight against both the China-Russia axis and US power.

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