BRICS Readies for New Members: Bitcoin Fuels De-Dollarisation Drive

• The upcoming BRICS summit is set to announce a significant expansion of the alliance, indicating a major evolution in the global order.
• Over 22 nations have officially expressed interest in joining the BRICS bloc, and Ambassador Anil Sooklal suggests that this summit could herald a “tectonic shift” in the global geopolitical landscape.

As the BRICS nations – Brazil, Russia, India, China, and South Africa – gear up for a pivotal summit, the potential for a radical change is palpable. Reports suggest that an announcement regarding the expansion of the bloc is imminent, with over 22 nations having formally lodged their interest in joining the influential alliance.

South Africa: A Catalyst for Change

South African President Cyril Ramaphosa is set to take a prominent role in this transformation. The anticipation is fueled by a statement from South African Ambassador Anil Sooklal during a briefing in Johannesburg. According to him, the forthcoming summit would not only feature an announcement on the expansion of BRICS, but could also pave the way for a “tectonic shift” in the global order.

The BRICS bloc has experienced robust growth this year, and the upcoming summit could potentially define the economic alliance’s trajectory in the short and long term. With the summit drawing closer, Ambassador Sooklal has underscored the likelihood of a significant geopolitical shift emanating from the event.

He elaborated on the power and impact of the BRICS bloc, terming it a “powerful global force” that has been instrumental in bringing about substantial change.

“This change is not coming voluntarily. BRICS has been a catalyst for a tectonic change you will see in the global geopolitical architecture, starting with the summit,”

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he noted.

A Meeting of Minds

Over 70 nations have been invited to participate in the summit discussions, marking it as one of the most comprehensive assemblies of countries from the global south in recent times. These conversations will revolve around addressing the current global challenges.

While recent reports have suggested differing views within the bloc regarding the pace of expansion, the upcoming summit is expected to bring clarity to the criteria for membership. Despite reservations from Brazil and India, China continues to strongly advocate for expansion. As the summit approaches, the world waits to see the new direction in which the BRICS nations will steer global geopolitics.