South Africa took over as the chair of BRICS on Jan. 1, 2023, during a challenging economic period, both domestically and globally. The ongoing conflict in Ukraine and the West’s sanctions have worsened the impact of the COVID-19 pandemic on economies globally, leading to soaring energy and food prices, which have had a disproportionate effect on the global South Continue…
BRICS is an informal group of states comprising the Federative Republic of Brazil, the Russian Federation, the Republic of India, the People’s Republic of China and the Republic of South Africa. The growing economic might of BRICS countries, their significance as one of the main driving forces of global economic development, their substantial population and abundant natural resources form the foundation of their influence on the international scene.