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Brics has emerged as a formidable economic bloc, making up the world's largest emerging economies. They have been working to promote trade and economic growth, as well as to foster political and cultural ties. As the Brics nations gear up for their annual summit in South Africa few months to come, 20 countries have pressured up for membership, indicating a growing interest in joining the bloc. In this video, we will explore why these countries are keen to join Brics and what benefits they stand to gain. #brics #brics2023 #dollar Firstly, it is important to understand the historical context of Brics. The bloc was formed in 2009, as a response to the global financial crisis, which had a significant impact on the economies of these five nations. At the time, the group was seen as a counterbalance to the dominance of the G7 nations – the US, UK, Germany, Japan, Canada, France, and Italy – who were the traditional leaders of the global economy. However, in recent years, Brics has emerged as a major economic power in its own right, with a combined GDP of over $16 trillion, making it the world's largest emerging market. So, why are 20 nations eager to join Brics? The answer lies in the numerous benefits that membership offers. For starters, Brics provides a platform for member countries to share knowledge and expertise, as well as to collaborate on research and development. This is particularly valuable for developing countries, which may not have the resources or expertise to tackle complex problems on their own. By working together, Brics members can pool their resources and knowledge to tackle issues such as climate change, healthcare, and poverty alleviation, among others. World Affairs, Geopolitics, Economic History and Busniess Shaping our civilization. “How They Did It“ and “How it impacts our lives today.“ We'll be delving into a variety of intricate strategic issues, trends, and Stories in an engaging manner. Kindly Subscribe and hit the notification bell to learn something every day. ► ▬▬▬▬▬▬▬▬▬ ✅FINANCIAL DISCLAIMER This channel's content should not be interpreted or construed as financial advice. We are not, and do not claim to be, an attorney, accountant, or financial advisor. This channel's content is not a substitute for financial advice and is solely for entertainment purposes. ▬▬▬▬▬▬▬▬▬ ✅COPYRIGHT DISCLAIMER Chronomy doesn't fully own some of the materials compiled in its videos. It belongs to people or organizations who ought to be respected. If used, it falls under the following provisions: Copyright disclaimer section 107 of the Copyright Act 1976. “Fair use“ is allowed for purposes such as criticism, comment, news reporting, teaching, scholarships, and research. ▬▬▬▬▬▬▬▬▬ ✅ If you are the owner of the materials used in this video, let us know in the comments. We will follow your request immediately.
