Patial RC
The Concern: Original BRICS members are Brazil, Russia, India, China, and South Africa. The so-far 10-member BRICS+ grouping already comprises nearly half of the world’s population and over a third of the global economy. It also has more than 25 per cent of the world’s landmass, produces more than 30 per cent of the world’s oil output. In the 21st Century, with the rise of Asia, and economies like China, India, Russia, Indonesia, UAE, Saudi Arabia, and others, the world has become much more multi-polar, instead of being bipolar. Brazil in South America and South Africa in Africa were also rising global economies. BRICS and is on track to surge ahead of the G7 economies in less than 20 years. Though the BRICS group was created in 2009. However, the renewed interest saw its membership double within one year. Lately Indonesia became a full member of BRICS group.
President Trump is after the BRICS+ and is threatening to impose 100 per cent tariffs on member countries if it tries to replace the US dollar for international trade. The US feels threatened by the grouping ,because it can actually make the US dollar vulnerable. “If the BRICS nations want to do that (replace the US dollar), that’s okay, but we’re going to put at least a 100 per cent tariff on the business they do with the United States,” President Trump told the international media shortly after his presidential inauguration. Naturally the West led by the US seem genuinely concerned about the challenge to its existing ‘World Order’, the West-made international system.
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