BRICS: will it grow fast and collectively dominate the global economy by 2050 ?
What will be the effect for world trade ?
Collective economic might
Varying levels of economic development, governance structures, and political ideologies can lead to disagreement
The combined economic clout of BRICS allowes these nations to exert influence in international financial institutions and negotiate more favorable terms in theyr trade agreements
Brics helps reducing the dependency on traditional Western markets and provides opportunities for member nations to tap into each other's growing consumer bases
BRICS has provides a platform for its member countries to jointly address global issues and push for reforms in international organizations. By presenting a united front on various global challenges, such as climate change and poverty, BRICS has enhanced its members' political influence on the global stage.