Before the 2010s, Brazil, Russia, India, China, and South Africa were flagged as future growth economies and rising powers on the world stage. Then, in the ensuing decade, each of these nations—collectively known as the “BRICS” nations—experienced a range of challenges, and the Sino-Indian rivalry between the group’s two largest members intensified; accordingly, some of the BRICS fanfare fizzled. Nonetheless, the BRICS association has gained relevance again, with the group announcing six new members at its most recent summit: Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates.
This panel discussed the implications of BRICS expansion, with the association now representing 42 percent of the world’s population and more than one-third of the global GDP. For instance, this panel scrutinized why—out of forty prospective members—the six new members were chosen, as well as what this expansion means for BRICS founding members and the United States. As this bloc is characterized by economics, this panel touched on attempts to challenge the US Dollar’s dominance and implications for the energy sector worldwide.
Featuring:
Mihaela Papa, Ph.D., Senior Fellow, Fletcher School of Law and Diplomacy, Tufts University
Margaret Myers, Director, Asia & Latin America Program, Inter-American Dialogue
Moderator: Nitin Nainani, Law Clerk, Mayer Brown LLP
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As always, the Federalist Society takes no position on particular legal or public policy issues; all expressions of opinion are those of the speaker.
