BRICS To Control 37% of World's GDP: West To Fall Below 28%
BRICS is now a nine-member bloc consisting of Brazil, Russia, India, China, South Africa, the UAE, Egypt, Iran, and Ethiopia. Also, Saudi Arabia is invited to join the alliance but the Kingdom has yet to decide on entering the bloc. Saudi Arabia’s induction will further strengthen BRICS and have larger control of the global oil supply and global GDP. Read here to know why Saudi Arabia is taking the time to join the alliance. Also Read: BRICS : China Enters Western Territory, Buys Gold Company With Hard Cash The bloc is advancing to de-dollarize the world and keep local currencies at the center of all global cross-border transactions. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. The next decade could be different as a paradigm shift in the world’s economy could take place. BRICS GDP Could Reach 37% of the World’s Economy, The G7 Nations’ GDP At 28% Source: Reuters Russia’s President Vladim...