#TOIDW On January 1, the group of developing economies added five new players to its roster. Existing members Brazil, Russia, India, China and South Africa were joined by oil nations Saudi Arabia, Iran, the UAE and key African players Egypt and Ethiopia. Argentina was initially part of the expansion plans but withdrew after recent elections. It’s the start of a new era for what is now called the BRICS Plus group. China-led bloc seeks to introduce its currency as an alternative to the US dollar. Experts are still cautious when assessing the expansion.

#BRICS #india #china

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