Iran Press/Asia: Indonesia, on Monday, formally became a member of the BRICS bloc of developing nations, signifying a substantial increase in the group's global influence. Indonesia's accession reflects the growing appeal of BRICS among emerging economies aiming to counter the dominance of Western-led institutions.
This development indicates a broader shift in global power dynamics as BRICS continues to draw nations from various regions of the Global South.
BRICS, originally formed in 2009 by Brazil, Russia, India and China, expanded in 2010 to include South Africa. The alliance, conceived as a counterweight to the Group of Seven, has seen steady growth. Its name derives from an economic term used in the early 2000s to describe rising countries expected to dominate the global economy by 2050. Last year, it added Iran, Egypt, Ethiopia and the United Arab Emirates, with Saudi Arabia invited to join. Meanwhile, countries like Turkey, Azerbaijan and Malaysia have formally applied for membership.
BRICS plays a significant role in global geopolitics by challenging existing power structures, promoting cooperation among emerging economies, and advocating for a more inclusive and multipolar world order.
