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	<updated>2026-10-24T20:26:28Z</updated>
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		<id>https://prole.wiki/w/index.php?title=North_Atlantic_Treaty_Organization&amp;diff=49177</id>
		<title>North Atlantic Treaty Organization</title>
		<link rel="alternate" type="text/html" href="https://prole.wiki/w/index.php?title=North_Atlantic_Treaty_Organization&amp;diff=49177"/>
		<updated>2023-06-11T21:23:51Z</updated>

		<summary type="html">&lt;p&gt;AntPL: added finland into members and removed them on the part that says they might join soon&lt;/p&gt;
&lt;hr /&gt;
&lt;div&gt;{{Infobox settlement|image_map=NATO_Members.svg|conventional_long_name=North Atlantic Treaty Organization|official_languages=English&amp;lt;br&amp;gt;French|native_name=Organisation du traité de l&#039;Atlantique nord|capital_type=Headquarters|capital=Brussels, [[Belgium]]|established_event1=Formation|established_date1=4 April 1949|image_flag=Flag of NATO.png|image_coat=NATO logo.svg|coa_size=150}}&lt;br /&gt;
&lt;br /&gt;
The &#039;&#039;&#039;North Atlantic Treaty Organization&#039;&#039;&#039;, more often called &#039;&#039;&#039;NATO&#039;&#039;&#039;, is an [[Anti-communism|anticommunist]] international military treaty created in the [[imperial core]] following the [[Second World War]].&amp;lt;ref&amp;gt;{{News citation|author=[[Ben Norton]]|newspaper=[[Multipolarista]]|title=NATO is a tool of US imperialism that has backed Nazis for decades|date=2022-06-14|url=https://youtu.be/Maqkl4fEQfs}}&amp;lt;/ref&amp;gt; It includes all of the world&#039;s major [[Imperialism|imperialist]] powers except [[Commonwealth of Australia|Australia]] and [[Japan]].&amp;lt;ref name=&amp;quot;:3&amp;quot;&amp;gt;{{Web citation|author=John Catalinotto|newspaper=[[Workers World]]|title=A short history of NATO|date=2018-07-16|url=https://www.workers.org/2018/07/38222/|archive-url=https://web.archive.org/web/20220626141139/https://www.workers.org/2018/07/38222/|archive-date=2022-06-26|retrieved=2022-12-23}}&amp;lt;/ref&amp;gt;&lt;br /&gt;
&lt;br /&gt;
Its original aim was to defend [[Dictatorship of the bourgeoisie|bourgeois republics]] against a possible [[Union of Soviet Socialist Republics (1922–1991)|Soviet]] liberation of [[Europe]]. When this did not occur, NATO moved to funding anticommunist (more often [[Fascism|fascist]]) acts in Europe and abroad. In 1955, the Soviet Union formed the [[Warsaw Pact]] to protect itself and its allies from NATO.&amp;lt;ref name=&amp;quot;:2&amp;quot;&amp;gt;{{Web citation|author=Sara Flounders|newspaper=[[Workers World]]|title=NATO’s global history of reaction|date=2022-04-04|url=https://www.workers.org/2022/04/63075/|archive-url=https://web.archive.org/web/20220822120013/https://www.workers.org/2022/04/63075/|archive-date=2022-08-22|retrieved=2022-09-04}}&amp;lt;/ref&amp;gt;&lt;br /&gt;
&lt;br /&gt;
NATO has started wars in [[Afghanistan]], [[Iraq]], [[Libyan Arab Jamahiriya (1977–2011)|Libya]], and [[Syrian Arab Republic|Syria]], causing about a million deaths and creating 38 million refugees.&amp;lt;ref name=&amp;quot;:1&amp;quot; /&amp;gt; Its commanders are always appointed by the [[President of the United States|U.S. president]], and it is an arm of [[United States imperialism|U.S. imperialism]].&amp;lt;ref name=&amp;quot;:3&amp;quot; /&amp;gt; In the event of a war, the U.S. commander has the power to suspend civilian laws and enact a dictatorship over most of Europe.&amp;lt;ref&amp;gt;{{Citation|author=Stephen Gowans|year=2018|title=Patriots, Traitors and Empires: The Story of Korea’s Struggle for Freedom|chapter=Imperialism|page=49|pdf=https://ipfs.io/ipfs/bafykbzaced4iiga4ngtxusr2civjxewbili5jne2sbpefbx2s3im2kphattzc?filename=Stephen%20Gowans%20-%20Patriots%2C%20Traitors%20and%20Empires_%20The%20Story%20of%20Korea%E2%80%99s%20Struggle%20for%20Freedom-Baraka%20Books%20%282018%29.pdf|city=Montreal|publisher=Baraka Books|isbn=9781771861427|lg=https://libgen.rs/book/index.php?md5=8435F6FF91279531705764823FDC2A7F}}&amp;lt;/ref&amp;gt;&lt;br /&gt;
&lt;br /&gt;
== Members ==&lt;br /&gt;
[[File:NATO expansion.png|thumb|NATO expansion after the fall of the Warsaw Pact]]&lt;br /&gt;
The 12 founding members of NATO were [[Belgium]], [[Canada]], [[Kingdom of Denmark|Denmark]], [[France]], [[Iceland]], [[Italy]], [[Luxembourg]], the [[Netherlands]], [[Kingdom of Norway|Norway]], [[Portugal]], the [[United Kingdom]] and the [[United States]].&amp;lt;ref name=&amp;quot;:0&amp;quot;&amp;gt;https://archive.vn/wip/ogQgV&amp;lt;/ref&amp;gt; Since that time, other countries have joined the alliance: [[Greece]] and [[Turkey]] (1952), [[Germany]] (1955), [[Spain]] (1982), the [[Czech Republic]], [[Hungary]] and [[Poland]] (1999), [[Bulgaria]], [[Estonia]], [[Latvia]], [[Lithuania]], [[Romania]], [[Slovakia]] and [[Slovenia]] (2004), [[Albania]] and [[Croatia]] (2009), [[Montenegro]] (2017),  [[Republic of North Macedonia|North Macedonia]] (2020) and [[Finland]] (2023).&amp;lt;ref name=&amp;quot;:0&amp;quot; /&amp;gt;&lt;br /&gt;
&lt;br /&gt;
In 1990, U.S. Secretary of State [[James Baker]] claimed NATO would not expand into [[Eastern Europe]],&amp;lt;ref&amp;gt;{{Citation|author=[[James Baker]], [[Mikhail Gorbachev|Mikhail Gorbachyov]]|year=1990|title=Memorandum of conversation between Mikhail Gorbachev and James Baker in Moscow|page=6|title-url=https://nsarchive.gwu.edu/document/16116-document-05-memorandum-conversation-between|publisher=National Security Archive|pdf=https://nsarchive.gwu.edu/sites/default/files/documents/4325679/Document-05-Memorandum-of-conversation-between.pdf|quote=Baker: We understand the need for assurances to the countries in the East. If we maintain a presence in Germany that is part of NATO, there would be no extension of NATO&#039;s jurisdiction for forces of NATO one inch to the east.}}&amp;lt;/ref&amp;gt; although it did anyway,&amp;lt;ref&amp;gt;{{News citation|newspaper=National Security Archive|title=NATO Expansion: What Gorbachev Heard|url=https://nsarchive.gwu.edu/briefing-book/russia-programs/2017-12-12/nato-expansion-what-gorbachev-heard-western-leaders-early}}&amp;lt;/ref&amp;gt;&amp;lt;ref&amp;gt;{{Web citation|author=[[Eugene Puryear]]|newspaper=[[Liberation News]]|title=Should we really blame NATO for the Ukraine war?|date=2022-06-05|url=https://www.liberationnews.org/should-we-really-blame-nato-for-the-ukraine-war/|archive-url=https://web.archive.org/web/20221011074105/https://www.liberationnews.org/should-we-really-blame-nato-for-the-ukraine-war/|archive-date=2022-10-11|retrieved=2022-10-22}}&amp;lt;/ref&amp;gt; and 14 countries in Central and Eastern Europe joined NATO after the [[overthrow of the Soviet Union]].&amp;lt;ref name=&amp;quot;:1&amp;quot;&amp;gt;{{News citation|author=[[Chris Hedges]]|newspaper=[[MintPress News]]|title=Chris Hedges: NATO—The Most Dangerous Military Alliance on the Planet|date=2022-07-12|url=https://www.mintpressnews.com/chris-hedges-nato-most-dangerous-military-alliance/281304/|archive-url=https://web.archive.org/web/20220721133324/https://www.mintpressnews.com/chris-hedges-nato-most-dangerous-military-alliance/281304/|archive-date=2022-07-21|retrieved=2022-07-26}}&amp;lt;/ref&amp;gt;&lt;br /&gt;
&lt;br /&gt;
[[Kingdom of Sweden|Sweden]] will likely join NATO soon. Turkish president [[Recep Tayyip Erdoğan]] gave permission for them to join NATO after they expanded domestic terror laws and lifted restrictions on selling weapons to Turkey.&amp;lt;ref name=&amp;quot;:1&amp;quot; /&amp;gt;&lt;br /&gt;
[[File:Romanian anti NATO poster.jpeg|thumb|235x235px|[[Socialist Republic of Romania (1947–1989)|Romanian]] anti-NATO poster saying &amp;quot;[[Neo-fascism|New label]] on [[Fascism|old merchandise]]&amp;quot;]]&lt;br /&gt;
&lt;br /&gt;
== Anticommunist projects ==&lt;br /&gt;
NATO took over anti-Soviet subversive activities from their predecessors when they started operating [[German Reich (1933–1945)|Nazi]] general [[Richard Gehlen]]&#039;s network of spies in the Soviet Union.&lt;br /&gt;
&lt;br /&gt;
NATO is perhaps best known among European communists for [[Operation Gladio]], which is a name given to a series of operations that consisted of funding fascist groups in Europe to assassinate and destabilize communists in the 20th century. In 2022, a Spanish lawmaker [[Gerado Pisarello]] criticized NATO for promoting a [[New Cold War]] on [[People&#039;s Republic of China|China]].&amp;lt;ref&amp;gt;{{News citation|author=[[Ben Norton]]|newspaper=[[Multipolarista]]|title=Spanish lawmaker: NATO subordinates Europe to US, pushes war on China, enriches weapons companies|date=2022-07-05|url=https://youtu.be/F4C6MKbhuZQ}}&amp;lt;/ref&amp;gt;&lt;br /&gt;
&lt;br /&gt;
NATO supported a right-wing military coup in Greece in 1967. It sent warships to Portugal in 1975 to repress the [[Proletariat|working class]] after the fall of the fascist [[Estado Novo]] regime.&amp;lt;ref name=&amp;quot;:3&amp;quot; /&amp;gt;&lt;br /&gt;
&lt;br /&gt;
== Imperialist acts ==&lt;br /&gt;
The Coalition fighting in Afghanistan, in a [[Afghanistan War|conflict]] that started in 1979 when the Afghan government asked the USSR to help fight against the [[Mujahideen]], was sent on the request of NATO.&lt;br /&gt;
&lt;br /&gt;
NATO invaded and destroyed Iraq in 1991.&amp;lt;ref name=&amp;quot;:2&amp;quot; /&amp;gt;&lt;br /&gt;
&lt;br /&gt;
NATO bombed [[Bosnia and Herzegovina|Bosnia]] and [[Federal Republic of Yugoslavia (1992–2006)|Serbia]] during the [[Yugoslav Wars]].&amp;lt;ref name=&amp;quot;:1&amp;quot; /&amp;gt; This bombing violated NATO&#039;s own charter because Yugoslavia never attacked any NATO member.&amp;lt;ref name=&amp;quot;:02&amp;quot;&amp;gt;{{Citation|author=[[Michael Parenti]]|year=2000|title=To Kill a Nation|chapter=NATO&#039;s War Crimes|page=115–116|pdf=https://leftychan.net/edu/src/1614706295182-3.pdf|publisher=Verso}}&amp;lt;/ref&amp;gt;&lt;br /&gt;
&lt;br /&gt;
When the USA was attacked on [[9/11|September 11, 2001]] and followed with a declaration of [[Iraq War|war against Iraq]] for imperialist interests, NATO—by their own admission—put their principle of collective defence to practice: if one member country is attacked, then all must join the war in defense. It is important to note that the government of Iraq never claimed responsibility or was ever tied to the terrorist attacks. Notably, president Bush admitted in 2006 that Saddam Hussein, president of Iraq in 2001, was not responsible for the attack&amp;lt;ref&amp;gt;{{News citation|title=Bush: Saddam was not responsible for 9/11|url=https://www.theguardian.com/world/2006/sep/12/september11.usa2|author=Suzanne Goldenberg|newspaper=[[The Guardian]]|date=2006-09-12}}&amp;lt;/ref&amp;gt;.&lt;br /&gt;
&lt;br /&gt;
NATO invaded the [[Libyan Arab Jamahiriya (1977–2011)|Libyan Arab Jamahiriya]] in 2011, causing a complete collapse of the country.&amp;lt;ref name=&amp;quot;:1&amp;quot; /&amp;gt;&lt;br /&gt;
&lt;br /&gt;
NATO backed Turkey&#039;s occupation of parts of [[Syrian Arab Republic|Syria]] and Iraq. Turkey has the second largest military of any NATO member.&amp;lt;ref name=&amp;quot;:1&amp;quot; /&amp;gt;&lt;br /&gt;
&lt;br /&gt;
In June 2022, NATO announced it would increase its standing army in Europe from 40,000 to 300,000 troops, including over 3,000 troops in the [[Baltics|Baltic]] states on the border with [[Russian Federation|Russia]].&amp;lt;ref&amp;gt;{{News citation|author=Andre Damon|newspaper=[[World Socialist Web Site]]|title=NATO announces plan for massive European land army|date=2022-06-27|url=https://www.wsws.org/en/articles/2022/06/28/sosw-j28.html|archive-url=https://web.archive.org/web/20220630011006/https://www.wsws.org/en/articles/2022/06/28/sosw-j28.html|archive-date=2022-06-30|retrieved=2022-06-30}}&amp;lt;/ref&amp;gt; NATO also added [[People&#039;s Republic of China|China]] to its list of enemies and labeled it a &amp;quot;systemic challenge.&amp;quot;&amp;lt;ref&amp;gt;{{News citation|author=Sameena Rahman|newspaper=[[Liberation News]]|title=NATO officially adds China to its list of enemies|date=2022-06-30|url=https://www.liberationnews.org/nato-officially-adds-china-to-its-list-of-enemies/|archive-url=https://web.archive.org/web/20220630223716/https://www.liberationnews.org/nato-officially-adds-china-to-its-list-of-enemies/|archive-date=2022-06-30|retrieved=2022-07-02}}&amp;lt;/ref&amp;gt;&lt;br /&gt;
&lt;br /&gt;
== References ==&lt;br /&gt;
&amp;lt;references /&amp;gt;&lt;br /&gt;
[[Category:Intergovernmental organizations]]&lt;br /&gt;
[[Category:Imperialist organizations]]&lt;/div&gt;</summary>
		<author><name>AntPL</name></author>
	</entry>
	<entry>
		<id>https://prole.wiki/w/index.php?title=BRICS&amp;diff=43281</id>
		<title>BRICS</title>
		<link rel="alternate" type="text/html" href="https://prole.wiki/w/index.php?title=BRICS&amp;diff=43281"/>
		<updated>2023-02-02T21:29:23Z</updated>

		<summary type="html">&lt;p&gt;AntPL: Bolsonaro was still as leader of brazil in the infobox&lt;/p&gt;
&lt;hr /&gt;
&lt;div&gt;{{Infobox organization&lt;br /&gt;
| name                = BRICS&lt;br /&gt;
| full_name           = Brazil, Russia, India, China and South Africa &amp;lt;hr&amp;gt;&lt;br /&gt;
| image               = Informal_meeting_of_the_BRICS_during_the_2019_G20_Osaka_summit.jpg&lt;br /&gt;
| image_size          = 245&lt;br /&gt;
| alt                 = &lt;br /&gt;
| caption             = The BRICS leaders in 2019, from left to right: [[Xi Jinping]], [[Vladimir Putin]], [[Jair Bolsonaro]], [[Narendra Modi]] and [[Cyril Ramaphosa]]&lt;br /&gt;
| logo                =Infobrics.org_logo.svg &lt;br /&gt;
| logo_size           = 230&lt;br /&gt;
| logo_alt            = &lt;br /&gt;
| logo_caption        = Official Logo&lt;br /&gt;
| map                 = BRICS_Members.svg&lt;br /&gt;
| map_size            = 330&lt;br /&gt;
| map_alt             = &lt;br /&gt;
| map_caption         = Current members&amp;lt;br /&amp;gt;&lt;br /&gt;
----&lt;br /&gt;
&#039;&#039;&#039;Member states and key leaders:&#039;&#039;&#039;&lt;br /&gt;
----{{Infobox | subbox = yes&lt;br /&gt;
| labelstyle = padding-right:1em;text-align:left&lt;br /&gt;
| datastyle = text-align:left&lt;br /&gt;
| label1 = [[File:Flag_of_Brazil.svg|25x25px|]] [[Federative_Republic_of_Brazil|Brazil]]&lt;br /&gt;
| data1 = President [[Lula da Silva]]&lt;br /&gt;
| label2 = [[File:Flag_of_Russia.svg|25x25px|]] [[Russian_Federation|Russia]]&lt;br /&gt;
| data2 = President [[Vladimir Putin]]&lt;br /&gt;
| label4 = [[File:Flag_of_the_People%27s_Republic_of_China.svg|25x25px|]] [[People%27s_Republic_of_China|China]] (2022 host)&lt;br /&gt;
| data4 = President [[Xi Jinping]]&lt;br /&gt;
| label5 = [[File:Flag_of_South_Africa.svg|25x25px|]] [[Republic_of_South_Africa|South Africa]]&lt;br /&gt;
| data5 = President [[Cyril Ramaphosa]]&lt;br /&gt;
| label3 = [[File:Flag_of_India.svg|25x25px|]] [[Republic_of_India|India]]&lt;br /&gt;
| data3 = Prime Minister [[Narendra Modi]]&lt;br /&gt;
}}&amp;lt;hr&amp;gt;&lt;br /&gt;
| abbreviation        = BRICS&lt;br /&gt;
| predecessor         = BRIC&lt;br /&gt;
| named_after         = Member states&#039; initials&lt;br /&gt;
| type                = [[Intergovernmental organization]]&lt;br /&gt;
| purpose             = Political&lt;br /&gt;
| fields              = International politics&lt;br /&gt;
| membership          = 5&lt;br /&gt;
| membership_year     = 2022&lt;br /&gt;
| funding             = Member states&lt;br /&gt;
| formerly            = BRIC&lt;br /&gt;
| headquarters        = [[New Development Bank|BRICS Tower]]&lt;br /&gt;
| location_city       = [[Shanghai]]&lt;br /&gt;
| location_country    = China&lt;br /&gt;
| website             = &lt;br /&gt;
}}&lt;br /&gt;
&lt;br /&gt;
&#039;&#039;&#039;BRICS&#039;&#039;&#039; is an acronym for five leading emerging economies: [[Brazil|&#039;&#039;&#039;B&#039;&#039;&#039;razil]], [[Russia|&#039;&#039;&#039;R&#039;&#039;&#039;ussia]], [[India|&#039;&#039;&#039;I&#039;&#039;&#039;ndia]], [[China|&#039;&#039;&#039;C&#039;&#039;&#039;hina]], and [[South Africa|&#039;&#039;&#039;S&#039;&#039;&#039;outh Africa]]. The first four were initially grouped as &amp;quot;BRIC&amp;quot; (or &amp;quot;the BRICs&amp;quot;) in 2001 by Goldman Sachs economist Jim O&#039;Neill, who coined the term to describe fast-growing economies that would collectively dominate the global economy by 2050;&amp;lt;ref&amp;gt;Doshi, Tilak. [https://www.forbes.com/sites/tilakdoshi/2022/07/21/brics-in-the-new-world-energy-order-hedging-in-oil-geopolitics/ &#039;&#039;&#039;BRICS In The New World Energy Order: Hedging In Oil Geopolitics&#039;&#039;&#039;]. Forbes. Retrieved 10 November 2022.&amp;lt;/ref&amp;gt; [[South Africa]] was added in 2010.&amp;lt;ref&amp;gt;&lt;br /&gt;
[http://www.southafrica.info/global/brics/brics-080411.htm &amp;quot;New era as South Africa joins BRICS&amp;quot;] [https://web.archive.org/web/20110418004139/http://www.southafrica.info/global/brics/brics-080411.htm &#039;&#039;&#039;Archived&#039;&#039;&#039;] 18 April 2011 at the Wayback Machine. SouthAfrica.info. 11 April 2010. Retrieved 2 December 2012.&lt;br /&gt;
&amp;lt;/ref&amp;gt;&lt;br /&gt;
&lt;br /&gt;
The BRICS have a combined area of 39,746,220 km2 (15,346,100 sq mi) and an estimated total population of about 3.21 billion,&amp;lt;ref&amp;gt;[https://population.un.org/wpp/Download/Files/1_Indicators%20(Standard)/EXCEL_FILES/1_Population/WPP2019_POP_F01_1_TOTAL_POPULATION_BOTH_SEXES.xlsx &amp;quot;Total Population - Both Sexes&amp;quot;]. &#039;&#039;World Population Prospects, the 2019 Revision.&#039;&#039; United Nations Department of Economic and Social Affairs, Population Division, Population Estimates and Projections Section. June 2019. Retrieved 17 June 2019.&amp;lt;/ref&amp;gt; or about 26.7% of the world&#039;s land surface and 41.5% of the global population. Brazil, Russia, India, and China are among the world&#039;s ten largest countries by population, area, and GDP, and are widely considered to be current or emerging superpowers. All five states are members of the [[G20]], with a combined nominal GDP of US$26.6 trillion (about 26.2% of the [[gross world product]]), a total [[GDP (PPP)]] of around US$51.99 trillion (32.1% of global GDP PPP), and an estimated US$4.46 trillion in combined foreign reserves (as of 2018).&amp;lt;ref&amp;gt;[https://www.imf.org/en/Publications/WEO/weo-database/2022/October/weo-report &amp;quot;Report for Selected Countries and Subjects&amp;quot;]. &#039;&#039;IMF.&#039;&#039; Retrieved 19 October 2022.&amp;lt;/ref&amp;gt;&amp;lt;ref&amp;gt;&lt;br /&gt;
[http://www.csmonitor.com/World/Global-Issues/2011/1018/Amid-BRICS-rise-and-Arab-Spring-a-new-global-order-forms &amp;quot;Amid BRICS&#039; rise and &#039;Arab Spring&#039;, a new global order forms&amp;quot;] [https://web.archive.org/web/20111020201828/http://www.csmonitor.com/World/Global-Issues/2011/1018/Amid-BRICS-rise-and-Arab-Spring-a-new-global-order-forms &#039;&#039;Archived&#039;&#039;] 20 October 2011 at the Wayback Machine. &#039;&#039;The Christian Science Monitor&#039;&#039;. 18 October 2011. Retrieved 20 October 2011.&lt;br /&gt;
&amp;lt;/ref&amp;gt;  &lt;br /&gt;
&lt;br /&gt;
The BRICS were originally identified for the purpose of highlighting investment opportunities, and had not been a formal [[intergovernmental organization]].&amp;lt;ref&amp;gt;[https://www.bloomberg.com/news/articles/2015-11-08/goldman-s-bric-era-ends-as-fund-closes-after-years-of-losses &amp;quot;Goldman&#039;s BRIC Era Ends as Fund Folds After Years of Losses&amp;quot;]. &#039;&#039;Bloomberg.&#039;&#039;&amp;lt;/ref&amp;gt; Since 2009, they have increasingly formed into a more cohesive geopolitical bloc, with their governments meeting annually at formal summits and coordinating multilateral policies;&amp;lt;ref&amp;gt;Doshi, Tilak. [https://www.forbes.com/sites/tilakdoshi/2022/07/21/brics-in-the-new-world-energy-order-hedging-in-oil-geopolitics/ &#039;&#039;&#039;BRICS In The New World Energy Order: Hedging In Oil Geopolitics&#039;&#039;&#039;]. Forbes. Retrieved 10 November 2022.&amp;lt;/ref&amp;gt;China hosted the most recent 14th BRICS summit on 24 July 2022. Bilateral relations among the BRICS are conducted mainly on the basis of noninterference, equality, and mutual benefit.&amp;lt;ref&amp;gt;Gutemberg Pacheco Lopes Junior. [https://repository.law.wisc.edu/s/uwlaw/media/21534 &#039;&#039;The Sino-Brazilian Principles in a Latin American and BRICS Context: The Case for Comparative Public Budgeting Legal Research; Wisconsin International Law Journal; 13 May 2015&#039;&#039;]&amp;lt;/ref&amp;gt;&lt;br /&gt;
&lt;br /&gt;
The BRICS are considered the foremost rival to the [[G7|G7 bloc]] of leading advanced economies,&amp;lt;ref&amp;gt;Doshi, Tilak. [https://www.forbes.com/sites/tilakdoshi/2022/07/21/brics-in-the-new-world-energy-order-hedging-in-oil-geopolitics/ &#039;&#039;&#039;BRICS In The New World Energy Order: Hedging In Oil Geopolitics&#039;&#039;&#039;]. Forbes. Retrieved 10 November 2022.&amp;lt;/ref&amp;gt; announcing competing initiatives such as the New Development Bank, Contingent Reserve Arrangement, BRICS payment system, and BRICS basket reserve currency. Since 2022, the group has sought to expand membership, with several developing countries expressing interest in joining.&amp;lt;ref&amp;gt;O&#039;Connor, Tom (7 November 2022). [https://www.newsweek.com/brazil-russia-india-china-south-africa-brics-bloc-grows-us-left-out-1757643 &amp;quot;Brazil-Russia-India-China-South Africa BRICS bloc grows with U.S. left out&amp;quot;]&amp;lt;/ref&amp;gt; The BRICS have received praise from numerous commentators.&amp;lt;ref&amp;gt;[http://www.businessday.co.za/articles/Content.aspx?id=168422 &amp;quot;Brics a force for world peace, says China&amp;quot;]. &#039;&#039;4=Business Day.&#039;&#039; 8 August 2012. [https://archive.today/20130422020755/http://www.businessday.co.za/articles/Content.aspx?id=168422 &#039;&#039;Archived&#039;&#039;] from the original on 22 April 2013. Retrieved 9 November 2013.&amp;lt;/ref&amp;gt;&lt;br /&gt;
&lt;br /&gt;
==History==&lt;br /&gt;
===Name===&lt;br /&gt;
The term BRIC was originally developed in the context of foreign investment strategies. It was introduced in the 2001 publication, &#039;&#039;Building Better Global Economic BRICs&#039;&#039; by then-chairman of Goldman Sachs Asset Management, Jim O&#039;Neill;&amp;lt;ref&amp;gt;Jim O&#039;Neill (2001).[http://www.goldmansachs.com/our-thinking/archive/building-better.html &amp;quot;Building Better Global Economic BRICs&amp;quot;] [https://web.archive.org/web/20140714202851/http://www.goldmansachs.com/our-thinking/archive/building-better.html &#039;&#039;Archived&#039;&#039;] 14 July 2014 at the Wayback Machine. Goldman Sachs. Retrieved 12 February 2015. jai shree ram&amp;lt;/ref&amp;gt; the term was coined by Roopa Purushothaman, who was a Research Assistant in the original report.&amp;lt;ref&amp;gt;[https://www.youtube.com/watch?v=5yqL_iBFXzQ &#039;&#039;Uday Kotak In Conversation With &#039;Bridgital Nation&#039; Author N Chandrasekaran&#039;&#039;], retrieved 1 January 2020.&amp;lt;/ref&amp;gt;&lt;br /&gt;
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For investing purposes, the list of emerging economies sometimes included South Korea, which expanded the acronym to BRICS or BRICK.&lt;br /&gt;
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===First BRIC summit===&lt;br /&gt;
The foreign ministers of the initial four BRIC General states (Brazil, Russia, India, and China) met in New York City in September 2006 at the margins of the General Debate of the UN Assembly, beginning a series of high-level meetings.&amp;lt;ref&amp;gt;[https://web.archive.org/web/20150710163822/http://brics6.itamaraty.gov.br/about-brics/information-about-brics &amp;quot;Information about BRICS&amp;quot;]. Brics6.itamaraty.gov.br. 27 March 2013. Archived from [http://brics6.itamaraty.gov.br/about-brics/information-about-brics the original] on 10 July 2015. Retrieved 4 September 2017.&amp;lt;/ref&amp;gt;A full-scale diplomatic meeting was held in Yekaterinburg, Russia, on 16 June 2009.&amp;lt;ref&amp;gt;[http://www.kremlin.ru/eng/articles/bric_1.shtml &amp;quot;Cooperation within BRIC&amp;quot;]. [https://web.archive.org/web/20090619032104/http://www.kremlin.ru/eng/articles/bric_1.shtml Archived] 19 June 2009 at the Wayback Machine. Kremlin.ru. Retrieved 16 June 2009.&amp;lt;/ref&amp;gt;&lt;br /&gt;
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The BRIC grouping&#039;s 1st formal summit, also held in Yekaterinburg, commenced on 16 June 2009,&amp;lt;ref&amp;gt;[http://news.bbc.co.uk/1/hi/business/8102216.stm &amp;quot;First summit for emerging giants&amp;quot;]. &#039;&#039;BBC News.&#039;&#039; 16 June 2009. [https://web.archive.org/web/20090618002740/http://news.bbc.co.uk/1/hi/business/8102216.stm Archived] from the original on 18 June 2009. Retrieved 16 June 2009.&amp;lt;/ref&amp;gt; with [[Luiz Inácio Lula da Silva]], [[Dmitry Medvedev]], [[Manmohan Singh]], and [[Hu Jintao]], the respective leaders of Brazil, Russia, India, and China, all attending.&amp;lt;ref&amp;gt;Bryanski, Gleb (26 June 2009). [https://www.reuters.com/article/marketsNews/idUSLG67435120090616 &amp;quot;BRIC demands more clout, steers clear of dollar talk&amp;quot;]. Reuters. [https://web.archive.org/web/20090619134448/https://www.reuters.com/article/marketsNews/idUSLG67435120090616 Archived] from the original on 19 June 2009. Retrieved 16 June 2009.&amp;lt;/ref&amp;gt; The summit&#039;s focus was on improving the [[late-2000s recession|global economic situation]] and reforming financial institutions, and discussed how the four countries could better co-operate in the future.&amp;lt;ref&amp;gt;[http://news.bbc.co.uk/1/hi/business/8102216.stm &amp;quot;First summit for emerging giants&amp;quot;]. &#039;&#039;BBC News.&#039;&#039; 16 June 2009. [https://web.archive.org/web/20090618002740/http://news.bbc.co.uk/1/hi/business/8102216.stm Archived] from the original on 18 June 2009. Retrieved 16 June 2009.&amp;lt;/ref&amp;gt;&amp;lt;ref&amp;gt;Bryanski, Gleb (26 June 2009). [https://www.reuters.com/article/marketsNews/idUSLG67435120090616 &amp;quot;BRIC demands more clout, steers clear of dollar talk&amp;quot;]. Reuters. [https://web.archive.org/web/20090619134448/https://www.reuters.com/article/marketsNews/idUSLG67435120090616 Archived] from the original on 19 June 2009. Retrieved 16 June 2009.&amp;lt;/ref&amp;gt; There was further discussion of ways that [[developing countries]], such as 3/4 of the BRIC members, could become more involved in global affairs.&amp;lt;ref&amp;gt;Bryanski, Gleb (26 June 2009). [https://www.reuters.com/article/marketsNews/idUSLG67435120090616 &amp;quot;BRIC demands more clout, steers clear of dollar talk&amp;quot;]. Reuters. [https://web.archive.org/web/20090619134448/https://www.reuters.com/article/marketsNews/idUSLG67435120090616 Archived] from the original on 19 June 2009. Retrieved 16 June 2009.&amp;lt;/ref&amp;gt;&lt;br /&gt;
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In the aftermath of the Yekaterinburg summit, the BRIC nations announced the need for a new [[World currency|global reserve currency]], which would have to be &amp;quot;diverse, stable and predictable.&amp;quot;&amp;lt;ref&amp;gt;[http://www.euronews.net/2009/06/16/bric-wants-more-influence/ &amp;quot;BRIC wants more influence&amp;quot;]. Euronews. 16 June 2009. [https://web.archive.org/web/20090621022125/http://www.euronews.net/2009/06/16/bric-wants-more-influence/ Archived] from the original on 21 June 2009. Retrieved 16 June 2009.&amp;lt;/ref&amp;gt; Although the statement that was released did not directly criticize the perceived &amp;quot;dominance&amp;quot; of the [[United States dollar|US dollar]] – something that Russia had criticized in the past – it did spark a fall in the value of the dollar against other major currencies.&amp;lt;ref&amp;gt;Zhou, Wanfeng (16 June 2009). [https://www.reuters.com/article/us-markets-forex-idUSTRE5530NQ20090616 &amp;quot;Dollar slides after Russia comments, BRIC summit&amp;quot;]. &#039;&#039;Reuters.&#039;&#039; [https://web.archive.org/web/20150924142310/http://www.reuters.com/article/2009/06/16/us-markets-forex-idUSTRE5530NQ20090616 Archived] from the original on 24 September 2015. Retrieved 6 July 2014.&amp;lt;/ref&amp;gt;&lt;br /&gt;
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===Entry of South Africa===&lt;br /&gt;
In 2010, South Africa began efforts to join the BRIC grouping, and the process for its formal admission began in August of that year.&amp;lt;ref name=&amp;quot;foreignpolicyjournal.com&amp;quot;&amp;gt;&lt;br /&gt;
{{cite web |last=Graceffo |first=Antonio |url=http://www.foreignpolicyjournal.com/2011/01/21/bric-becomes-brics-changes-on-the-geopolitical-chessboard/2/ |title=BRIC Becomes BRICS: Changes on the Geopolitical Chessboard |publisher=Foreign Policy Journal |date=21 January 2011 |access-date=14 April 2011 |archive-url=https://web.archive.org/web/20110126031749/http://www.foreignpolicyjournal.com/2011/01/21/bric-becomes-brics-changes-on-the-geopolitical-chessboard/2/ |archive-date=26 January 2011 |url-status=live  }}&amp;lt;/ref&amp;gt; South Africa officially became a member nation on 24 December 2010, after being formally invited by China to join&amp;lt;ref&amp;gt;{{Cite news|url=https://www.reuters.com/article/us-bric-safrica-idUSTRE6BN1DZ20101224|title=China invites South Africa to join BRIC: Xinhua|date=24 December 2010|work=Reuters|access-date=9 June 2019|language=en}}&amp;lt;/ref&amp;gt; and subsequently accepted by other BRIC countries.&amp;lt;ref name=&amp;quot;foreignpolicyjournal.com&amp;quot; /&amp;gt; The group was renamed BRICS – with the &amp;quot;S&amp;quot; standing for South Africa – to reflect the group&#039;s expanded membership.&amp;lt;ref&amp;gt;Blanchard, Ben and Zhou Xin (14 April 2011). [https://af.reuters.com/article/southAfricaNews/idAFL3E7FE13B20110414 &amp;quot;UPDATE 1-BRICS discussed global monetary reform, not yuan&amp;quot;] {{Webarchive|url=https://web.archive.org/web/20170620043200/http://af.reuters.com/article/southAfricaNews/idAFL3E7FE13B20110414 |date=20 June 2017 }} . Reuters Africa. Retrieved 26 April 2013.&amp;lt;/ref&amp;gt; In April 2011, the President of South Africa, [[Jacob Zuma]], attended the 2011 BRICS summit in Sanya, China, as a full member.&amp;lt;ref name=autogenerated1&amp;gt;&lt;br /&gt;
{{cite web |url=http://news.xinhuanet.com/english2010/china/2010-12/24/c_13662138.htm |archive-url=https://web.archive.org/web/20101228032338/http://news.xinhuanet.com/english2010/china/2010-12/24/c_13662138.htm |url-status=dead |archive-date=28 December 2010 |title=South Africa joins BRIC as full member |publisher=Xinhua |date=24 December 2010 |access-date=14 April 2011 }}&amp;lt;/ref&amp;gt;&amp;lt;ref&amp;gt;{{cite web|url=http://timesofindia.indiatimes.com/india/BRICS-countries-need-to-further-enhance-coordination-Manmohan-Singh/articleshow/7961167.cms |title=BRICS countries need to further enhance coordination: Manmohan Singh |website=[[The Times of India]] |date=12 April 2011 |access-date=14 April 2011}}&amp;lt;/ref&amp;gt;&amp;lt;ref&amp;gt;{{cite web |url=http://www.indianexpress.com/news/brics-should-coordinate-in-key-areas-of-development-pm/775130/ |title=BRICS should coordinate in key areas of development: PM |website=Indian Express |date=10 April 2011 |access-date=14 April 2011 |archive-url=https://web.archive.org/web/20110415005531/http://www.indianexpress.com/news/brics-should-coordinate-in-key-areas-of-development-pm/775130 |archive-date=15 April 2011 |url-status=live }}&amp;lt;/ref&amp;gt;&lt;br /&gt;
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=== Potential further expansion ===&lt;br /&gt;
Since South Africa joined the BRIC grouping (now BRICS) in 2010, numerous other countries have expressed interest in joining the bloc, including [[Argentina]] and [[Iran]]. Both signaled their intent to join BRICS during meetings with senior Chinese officials, the current BRICS chair, over the course of the summer of 2022. Beijing backed Argentina&#039;s potential accession&amp;lt;ref&amp;gt;{{cite web |first1=MercoPress |title=China once again backs Argentina joining BRICS |url=https://en.mercopress.com/2022/07/07/china-once-again-backs-argentina-joining-brics |access-date=1 October 2022}}&amp;lt;/ref&amp;gt; following a meeting&amp;lt;ref&amp;gt;{{cite web |last1=People&#039;s Republic of China |first1=Ministry of Foreign Affairs of the |title=Wang Yi Attends the G20 Foreign Ministers&#039; Meeting |url=https://www.fmprc.gov.cn/mfa_eng/topics_665678/kjgzbdfyyq/202207/t20220709_10717939.html |access-date=1 October 2022}}&amp;lt;/ref&amp;gt; between Argentine Foreign Minister Santiago Cafiero and Chinese State Councilor and Foreign Minister Wang Yi on the margins of the G20 Summit in Indonesia. China once again reiterated their support for Argentina’s potential application during a subsequent meeting between Cafiero and Yi on the margins of the 77th UN General Assembly.&amp;lt;ref&amp;gt;{{cite web |first1=MercoPress |title=China once again backs Argentina joining BRICS |url=https://en.mercopress.com/2022/07/07/china-once-again-backs-argentina-joining-brics |access-date=1 October 2022}}&amp;lt;/ref&amp;gt; Likewise, it is understood that both Russia, India, and Brazil support Argentina’s application. Iran also submitted an application in June 2022 to Chinese authorities to join the economic association of emerging markets.&amp;lt;ref&amp;gt;{{cite web |last1=Hafezi |first1=Parisa |website=[[Reuters]] |url=https://www.reuters.com/world/middle-east/iran-applies-join-brics-group-emerging-countries-2022-06-27/ |access-date=1 October 2022}}&amp;lt;/ref&amp;gt; Relations between Iran, China and Russia have warmed in recent months as all three governments seek new allies against increasing Western opposition. [[Saudi Arabia]], [[Turkey]], and [[Egypt]] also expressed their interest in joining BRICS but have not yet submitted formal requests. There is no formal application process as such to join BRICS, but any hopeful government must receive unanimous backing from all existing BRICS members--Brazil, Russia, India, China, and South Africa--to receive an invitation.&lt;br /&gt;
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===Developments===&lt;br /&gt;
[[File:28_06_2019_Reunião_Informal_do_BRICS_(48142569851).jpg|thumb|right|Brazilian president [[Jair Bolsonaro]] and Russian president [[Vladimir Putin]] during the BRICS in [[Brasília]], [[Brazil]].]]&lt;br /&gt;
The BRICS Forum, an independent international organization encouraging commercial, political, and cultural cooperation among the BRICS nations, was formed in 2011.&amp;lt;ref&amp;gt;&lt;br /&gt;
[http://www.bricsforum.org BRICS Forum website] {{Webarchive|url=https://web.archive.org/web/20150717220554/http://www.bricsforum.org/ |date=17 July 2015 }}  . Retrieved 29 November 2012.&amp;lt;/ref&amp;gt; In June 2012, the BRICS nations pledged $75&amp;amp;nbsp;billion to boost the lending power of the [[International Monetary Fund]] (IMF). However, this loan was conditional on IMF voting reforms.&amp;lt;ref&amp;gt;{{cite web|url=http://in.reuters.com/article/russia-brics-imf-idINDEE85K04C20120621|publisher=Reuters|title=Russia says BRICS eye joint anti-crisis fund|date=21 June 2012|access-date=5 December 2012|archive-url=https://web.archive.org/web/20130515075723/http://in.reuters.com/article/2012/06/21/russia-brics-imf-idINDEE85K04C20120621|archive-date=15 May 2013|url-status=live}}&amp;lt;/ref&amp;gt; In late March 2013, during the fifth BRICS summit in Durban, South Africa, the member countries agreed to create a [[BRICS Development Bank|global financial institution]] intended to cooperate with the western-dominated IMF and World Bank.&amp;lt;ref&amp;gt;jai shree ram&lt;br /&gt;
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{{cite web|url=https://www.theguardian.com/global-development/2013/mar/28/brics-countries-infrastructure-spending-development-bank|title=Brics eye infrastructure funding through new development bank|website=The Guardian|date=28 March 2013|access-date=29 March 2013|archive-url=https://web.archive.org/web/20131030120601/http://www.theguardian.com/global-development/2013/mar/28/brics-countries-infrastructure-spending-development-bank|archive-date=30 October 2013|url-status=live}}&amp;lt;/ref&amp;gt; After the summit, the BRICS stated that they planned to finalize the arrangements for this [[New Development Bank]] by 2014.&amp;lt;ref&amp;gt;{{cite web|url=http://in.reuters.com/article/g20-brics-india-idINDEE93I0DK20130419|title=India sees BRICS development bank agreed by 2014 summit|publisher=Reuters|date=19 April 2013|access-date=10 July 2013|archive-url=https://web.archive.org/web/20130528093058/http://in.reuters.com/article/2013/04/19/g20-brics-india-idINDEE93I0DK20130419|archive-date=28 May 2013|url-status=live}}&amp;lt;/ref&amp;gt; However, disputes relating to burden sharing and location slowed down the agreements.&lt;br /&gt;
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At the BRICS leaders meeting in St Petersburg in September 2013, China committed $41&amp;amp;nbsp;billion towards the pool; Brazil, India, and Russia $18&amp;amp;nbsp;billion each; and South Africa $5&amp;amp;nbsp;billion. China, holder of the world&#039;s largest foreign exchange reserves and contributes the bulk of the currency pool, wants a more significant managing role, said one BRICS official. China also wants to be the location of the reserve. &amp;quot;Brazil and India want the initial capital to be shared equally. We know that China wants more,&amp;quot; said a Brazilian official. &amp;quot;However, we are still negotiating, there are no tensions arising yet.&amp;quot;&amp;lt;ref&amp;gt;&lt;br /&gt;
{{cite news |url=http://in.reuters.com/article/g20-brics-fund-idINL6N0I13N720131011 |title=BRICS may decide on $100 billion fund early 2014 – Russia &amp;amp;#124; Reuters |publisher=In.reuters.com |date=11 October 2013 |access-date=4 September 2017 |archive-url=https://web.archive.org/web/20140201194824/http://in.reuters.com/article/2013/10/11/g20-brics-fund-idINL6N0I13N720131011 |archive-date=1 February 2014 |url-status=live  }}&lt;br /&gt;
&amp;lt;/ref&amp;gt; On 11 October 2013, Russia&#039;s Finance Minister Anton Siluanov said that creating a $100&amp;amp;nbsp;billion fund designated to steady currency markets would be taken in early 2014. The Brazilian finance minister, Guido Mantega, stated that the fund would be created by March 2014.&amp;lt;ref&amp;gt;&lt;br /&gt;
{{cite news |author1=Silvio Cascione |author2=Patricia Duarte |url=http://in.reuters.com/article/us-brazil-economy-mantega-idINBRE9990WR20131010 |title=Brazil&#039;s Mantega urges Fed to communicate tapering &#039;clearly&#039; &amp;amp;#124; Reuters |publisher=In.reuters.com |date=10 October 2013 |access-date=4 September 2017 |archive-url=https://web.archive.org/web/20140201194821/http://in.reuters.com/article/2013/10/10/us-brazil-economy-mantega-idINBRE9990WR20131010 |archive-date=1 February 2014 |url-status=live  }}&lt;br /&gt;
&amp;lt;/ref&amp;gt; However, by April 2014, the currency reserve pool and development bank had yet to be set up, and the date was rescheduled to 2015.&amp;lt;ref name=rbth1&amp;gt;&lt;br /&gt;
{{Cite web |url=http://rbth.com/business/2014/04/14/brics_countries_to_set_up_their_own_imf_35891.html |title=rbth.com: &amp;quot;BRICS countries to set up their own IMF&amp;quot; 14 Apr 2014 |date=14 April 2014 |access-date=15 July 2014 |archive-url=https://web.archive.org/web/20140531200454/http://rbth.com/business/2014/04/14/brics_countries_to_set_up_their_own_imf_35891.html |archive-date=31 May 2014 |url-status=live  }}&lt;br /&gt;
&amp;lt;/ref&amp;gt; One driver for the BRICS development bank is that the existing institutions primarily benefit extra-BRICS corporations, and the political significance is notable because it allows BRICS member states &amp;quot;to promote their interests abroad... and can highlight the strengthening positions of countries whose opinion is frequently ignored by their developed American and European colleagues.&amp;quot;&lt;br /&gt;
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[[File:NDB-HQ-Photo.jpg|thumb|BRICS Tower headquarters (former Oriental Financial Centre) in Shanghai.]]&lt;br /&gt;
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In July 2014, the Governor of the Russian Central Bank, Elvira Nabiullina, claimed that the &amp;quot;BRICS partners promote the establishment of a system of multilateral swaps that will allow them to transfer resources to one or another country, if needed&amp;quot; in an article which concluded that &amp;quot;If the current trend continues, soon the dollar will be abandoned by most of the significant global economies and it will be kicked out of the global trade finance.&amp;quot;&amp;lt;ref&amp;gt;&lt;br /&gt;
{{Cite web |url=http://voiceofrussia.com/2014_07_03/BRICS-is-morphing-into-an-anti-dollar-alliance-6229/ |title=voiceofrussia.com: &amp;quot;BRICS morphing into anti-dollar alliance&amp;quot; 3 Jul 2014 |access-date=15 July 2014 |archive-url=https://web.archive.org/web/20140712033220/http://voiceofrussia.com/2014_07_03/BRICS-is-morphing-into-an-anti-dollar-alliance-6229/ |archive-date=12 July 2014 |url-status=live  }}&lt;br /&gt;
&amp;lt;/ref&amp;gt;&lt;br /&gt;
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Over the weekend of 13 July 2014, when the final game of the FIFA World Cup was held, and in advance of the BRICS Fortaleza summit, Putin met fellow leader [[Dilma Rousseff]] to discuss the BRICS development bank, and sign some other bilateral accords on air defense, gas and education. Rouseff said that the BRICS countries &amp;quot;are among the largest in the world and cannot content themselves in the middle of the 21st century with any kind of dependency.&amp;quot;&amp;lt;ref&amp;gt;&lt;br /&gt;
{{Cite web |url=https://news.yahoo.com/brazil-russia-discuss-creation-brics-bank-182127176.html |title=yahoo.com: &amp;quot;Brazil, Russia discuss creation of BRICS bank&amp;quot; 14 Jul 2014 |access-date=14 January 2017 |archive-url=https://web.archive.org/web/20151207225030/http://news.yahoo.com/brazil-russia-discuss-creation-brics-bank-182127176.html |archive-date=7 December 2015 |url-status=live  }}&lt;br /&gt;
&amp;lt;/ref&amp;gt; The Fortaleza summit was followed by a BRICS meeting with the Union of South American Nations president&#039;s in Brasilia, where the development bank and the monetary fund were introduced.&amp;lt;ref name=yn11j&amp;gt;&lt;br /&gt;
[https://news.yahoo.com/brics-launch-bank-tighten-latin-america-ties-034909760.html &amp;quot;BRICS to launch bank, tighten Latin America ties&amp;quot;] {{Webarchive|url=https://web.archive.org/web/20150712193150/http://news.yahoo.com/brics-launch-bank-tighten-latin-america-ties-034909760.html |date=12 July 2015 }} . Yahoo.com. 11 July 2014. Retrieved 13 February 2015.&lt;br /&gt;
&amp;lt;/ref&amp;gt; The development bank will have capital of US$50&amp;amp;nbsp;billion with each country contributing US$10&amp;amp;nbsp;billion, while the monetary fund will have US$100&amp;amp;nbsp;billion at its disposal.&amp;lt;ref name=yn11j/&amp;gt;&lt;br /&gt;
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On 15 July, the first day of the BRICS sixth summit in Fortaleza, Brazil, the group of emerging economies signed the long-anticipated document to create the US$100&amp;amp;nbsp;billion [[New Development Bank]] (formerly known as the &amp;quot;BRICS Development Bank&amp;quot;) and a reserve currency pool worth over another US$100&amp;amp;nbsp;billion. Documents on cooperation between BRICS export credit agencies and an agreement of cooperation on innovation were also inked.&amp;lt;ref&amp;gt;[https://www.coursehero.com/file/96729068/BRICS-by-sourav-das-05042020pdf/ BRICS in Fortaleza, Brazil]&amp;lt;/ref&amp;gt;&lt;br /&gt;
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At the end of October 2014, Brazil trimmed down its holdings of US government securities to US$261.7&amp;amp;nbsp;billion; India, US$77.5&amp;amp;nbsp;billion; China, US$1.25&amp;amp;nbsp;trillion; South Africa, US$10.3&amp;amp;nbsp;billion.&amp;lt;ref&amp;gt;&lt;br /&gt;
[http://economictimes.indiatimes.com/news/economy/foreign-trade/india-cuts-exposure-to-us-government-securities-at-77-5-billion-in-october/articleshow/45592315.cms &amp;quot;India cuts exposure to US government securities at $77.5 billion in October.&amp;quot;] {{Webarchive|url=https://web.archive.org/web/20170910063217/http://economictimes.indiatimes.com/news/economy/foreign-trade/india-cuts-exposure-to-us-government-securities-at-77-5-billion-in-october/articleshow/45592315.cms|date=10 September 2017}}  &#039;&#039;[[The Times of India]]&#039;&#039;. 21 December 2014. Retrieved 21 December 2014. Alternative link: [http://economictimes.indiatimes.com/articleshow/45592315.cms] {{Webarchive|url=https://web.archive.org/web/20170910063215/http://economictimes.indiatimes.com/articleshow/45592315.cms|date=10 September 2017}}&lt;br /&gt;
&amp;lt;/ref&amp;gt;[[File:NDB-HQ-LOGO.jpg|thumb|right|New Development Bank&#039;s logo.]]&lt;br /&gt;
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After the 2015 summit, the respective communications ministers, under a Russian proposal, had a first summit for their ministries in Moscow in October where the host minister, Nikolai Nikiforov, proposed an initiative to further tighten their information technology sectors and challenge the monopoly of the United States in the sector.&lt;br /&gt;
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Since 2012, the BRICS group of countries have been planning an optical fibre submarine communications cable system to carry telecommunications between the BRICS countries, known as the [[BRICS Cable]].&amp;lt;ref name=&amp;quot;bloomberg&amp;quot;&amp;gt;{{cite web|url=https://www.bloomberg.com/apps/news?pid=newsarchive&amp;amp;sid=aDLKQqIM.ZZ0|title=Brics Cable Unveiled for Direct and Cohesive Communications Services between Brazil, Russia, India, China and South Africa|publisher=[[Bloomberg News]]|date=16 April 2012|access-date=5 March 2017|archive-url=https://web.archive.org/web/20151119201528/http://www.bloomberg.com/apps/news?pid=newsarchive&amp;amp;sid=aDLKQqIM.ZZ0|archive-date=19 November 2015|url-status=live}}&lt;br /&gt;
&amp;lt;/ref&amp;gt; Part of the motivation for the project was the spying of the [[National Security Agency|U.S. National Security Agency]] on all telecommunications that flowed in and out of United States territory.&amp;lt;ref name=&amp;quot;diplomat&amp;quot;&amp;gt;{{cite web|url=https://thediplomat.com/2015/04/a-fiber-optic-silk-road/|title=A Fiber-Optic Silk Road|publisher=[[The Diplomat]]|date=2 April 2015|first=Nadège|last=Rolland|access-date=19 November 2015|archive-url=https://web.archive.org/web/20151119180928/https://thediplomat.com/2015/04/a-fiber-optic-silk-road/|archive-date=19 November 2015|url-status=live}}&amp;lt;/ref&amp;gt;&lt;br /&gt;
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In August 2019, the communications ministers of the BRICS countries signed a letter of intent to cooperate in the Information and Communication Technology sector. This agreement was signed in the fifth edition of meeting of communication ministers of countries member of the group&amp;lt;ref&amp;gt;{{Cite web | url=https://www.telecompaper.com/news/brics-countries-to-cooperate-in-ict-sector--1304946 |title = BRICS countries to cooperate in ICT sector}}&amp;lt;/ref&amp;gt; held in Brasília, Brazil.&lt;br /&gt;
&lt;br /&gt;
The [[New Development Bank]], located in China, plans on giving out $15&amp;amp;nbsp;billion to member nation to help their struggling economies. Member countries are hoping for a smooth comeback and a continuation of economic trade pre-COVID-19. The summit they plan on doing virtually in St. Petersburg, Russia will discuss how to handle the COVID-19 pandemic and how to fix their multilateral system by reforms.&amp;lt;ref&amp;gt;{{Cite web|title=BRICS To Allocate $15 Billion For Rebuilding Economies Hit By COVID-19|url=https://www.ndtv.com/india-news/coronavirus-brics-to-allocate-15-billion-for-rebuilding-economies-hit-by-covid-19-2220046|access-date=20 October 2020|website=NDTV.com}}&amp;lt;/ref&amp;gt; The COVID-19 accepting rate of taking the vaccine is a mixture in the BRICS community. China, India, and South Africa are the most willing to take the vaccine while Brazil and Russia have more skepticism than the other three.&amp;lt;ref&amp;gt;{{Cite web|date=20 October 2020|title=What do people in BRICS countries think about a COVID-19 vaccine?|url=https://www.devex.com/news/sponsored/what-do-people-in-brics-countries-think-about-a-covid-19-vaccine-98356|access-date=25 October 2020|website=Devex}}&amp;lt;/ref&amp;gt; During the 13th BRICS summit, Indian Prime Minister [[Narendra Modi]] called for a transparent investigation into the origins of COVID-19 under the [[World Health Organization]] with the full cooperation of &amp;quot;all countries&amp;quot;, and Chinese president Xi Jinping spoke directly afterwards, calling on BRICS countries to &amp;quot;oppose politicisation&amp;quot; of the process.&amp;lt;ref&amp;gt;{{Cite news|url=https://www.thehindu.com/news/national/india-china-avoided-open-clash-over-origins-of-covid-19-virus/article36479981.ece|title=India, China avoided open clash over COVID-19 origins|newspaper=The Hindu|date=15 September 2021|last1=Haidar|first1=Suhasini|last2=Krishnan|first2=Ananth}}&amp;lt;/ref&amp;gt;&lt;br /&gt;
&lt;br /&gt;
==Summits==&lt;br /&gt;
The grouping has held annual summits since 2009, with member countries taking turns to host. Prior to South Africa&#039;s admission, two BRIC summits were held, in 2009 and 2010. The first five-member BRICS summit was held in 2011. The most recent BRICS leaders&#039; summit took place virtually on 23 June 2022 hosted by China.&amp;lt;ref&amp;gt;{{Cite news |title=14th BRICS summit to be held in China: Check date, place and other details |work=The Economic Times |url=https://economictimes.indiatimes.com/news/india/14th-brics-summit-to-be-held-in-china-check-date-place-and-other-details/articleshow/92271827.cms |access-date=2022-07-17}}&amp;lt;/ref&amp;gt;&amp;lt;ref&amp;gt;{{Cite news |last=Reuters |date=2022-06-17 |title=China&#039;s Xi to host virtual BRICS leaders summit on June 23 - Xinhua |language=en |work=Reuters |url=https://www.reuters.com/world/china/chinas-xi-host-virtual-brics-leaders-summit-june-23-xinhua-2022-06-17/ |access-date=2022-07-17}}&amp;lt;/ref&amp;gt; India has hosted the BRICS 2021 summit at New Delhi &amp;amp; amid tensions with China, Chinese president [[Xi Jinping]] had made a soft move by supporting India&#039;s Chairmanship in 2021.&amp;lt;ref name=&amp;quot;BRICS Brazil&amp;quot;&amp;gt;{{cite web |title=BRICS BRASIL 2019 – Theme and priorities |url=http://brics2019.itamaraty.gov.br/en/2019-brazilian-presidency/theme-and-priorities |website=brics2019.itamaraty.gov.br}}&amp;lt;/ref&amp;gt;&lt;br /&gt;
{| class=&amp;quot;wikitable&amp;quot; &lt;br /&gt;
|-&lt;br /&gt;
! Sr. No. !! Date(s) !! Host country !! Host leader !! Location !! Notes&lt;br /&gt;
|-&lt;br /&gt;
| 1st || 16 June 2009 || [[File:Flag_of_Russia.svg|25x25px|]] [[Russian_Federation|Russia]] || [[Dmitry Medvedev]] || {{small|Yekaterinburg (Sevastianov&#039;s House)}}||The summit was to discuss the global recession taking place at the time, future cooperation among states, and trade. Some of the specific topics discussed were food, trade, climate trade, and security for the nations. They called out for a more influential voice and representation for up and coming markets. Note at the time South Africa was not yet admitted to the BRICS organization at the time.&amp;lt;ref name=&amp;quot;What is BRICS {{!}} Africa Facts&amp;quot;&amp;gt;{{Cite web|date=15 October 2018|title=What is BRICS {{!}} Africa Facts|url=https://africa-facts.org/what-is-brics/|access-date=3 November 2020|language=en-US}}&amp;lt;/ref&amp;gt;&lt;br /&gt;
|-&lt;br /&gt;
| 2nd || 15 April 2010 || [[File:Flag_of_Brazil.svg|25x25px|]] [[Federative_Republic_of_Brazil|Brazil]] || [[Luiz Inácio Lula da Silva]] || {{small|Brasília (Itamaraty Palace)}}. ||The second summit continued on the conversation of the global recession and how to recover. They had a conversation on the IMF, climate change, and more ways to form cooperation among states.&amp;lt;ref name=&amp;quot;What is BRICS {{!}} Africa Facts&amp;quot;/&amp;gt;&lt;br /&gt;
|-&lt;br /&gt;
| 3rd || 14 April 2011 || [[File:Flag_of_the_People%27s_Republic_of_China.svg|25x25px|]] [[People%27s_Republic_of_China|China]] || [[Hu Jintao]] || {{small|Sanya (Sheraton Sanya Resort)}} || {{small|First summit to include South Africa alongside the original [[BRIC]] countries.}} The third summit had nations debating on the global and internal economies of countries.&amp;lt;ref name=&amp;quot;What is BRICS {{!}} Africa Facts&amp;quot;/&amp;gt;&lt;br /&gt;
|-&lt;br /&gt;
| 4th || 29 March 2012 || [[File:Flag_of_India.svg|25x25px|]] [[Republic_of_India|India]] || [[Manmohan Singh]] || {{small|New Delhi (Taj Mahal Hotel)}} || {{small|The [[BRICS Cable]] announced an optical fibre submarine communications cable system that carries telecommunications between the BRICS countries.}} The fourth summit discussed how the organization could prosper from the global recession and how they could take advantage of that to help their economies. BRICS had the intention of improving their global power and to provide adequate development for their state.&amp;lt;ref name=&amp;quot;dx.doi.org&amp;quot;&amp;gt;{{Cite book|date=15 March 2011|chapter=How aid for trade could help SVEs integrate in the global economy|chapter-url=http://dx.doi.org/10.14217/9781848591004-6-en|access-date=3 November 2020|website=dx.doi.org|series=Economic Paper|pages=30–37|doi=10.14217/9781848591004-6-en|isbn=9781848591004|title=Effectiveness of Aid for Trade in Small and Vulnerable Economies|publisher=Commonwealth}}&amp;lt;/ref&amp;gt;&lt;br /&gt;
|-&lt;br /&gt;
| 5th || 26–27 March 2013 || [[File:Flag_of_South_Africa.svg|25x25px|]] [[Republic_of_South_Africa|South Africa]] || [[Jacob Zuma]] || {{small|Durban (Durban ICC)}} || The fifth summit discusses the New Development Bank proposition and Contingent Reserve Agreement. BRICS also announced the Business Council and its Think Tank Council.&amp;lt;ref name=&amp;quot;dx.doi.org&amp;quot;/&amp;gt; &lt;br /&gt;
|-&lt;br /&gt;
| 6th || 14–17 July 2014 || [[File:Flag_of_Brazil.svg|25x25px|]] Brazil || [[Dilma Rousseff]] || {{small|Fortaleza (Centro de Eventos do Ceará)}}&amp;lt;ref&amp;gt;&lt;br /&gt;
{{cite web|url=http://www.postwesternworld.com/2013/07/04/a-cupula-de-durban-e-o-futuro-dos-brics/|title=A Cúpula de Durban e o futuro dos BRICS|publisher=Post-Western World|date=4 July 2013|access-date=7 November 2013|archive-url=https://web.archive.org/web/20130907140905/http://www.postwesternworld.com/2013/07/04/a-cupula-de-durban-e-o-futuro-dos-brics/|archive-date=7 September 2013|url-status=live}}&lt;br /&gt;
&amp;lt;/ref&amp;gt; || {{small|BRICS [[New Development Bank]] and [[BRICS Contingent Reserve Arrangement]] agreements signed.}}&amp;lt;br /&amp;gt;The members of BRICS conversed with each other about political coordination, development, and economic growth. They established the Fortaleza Declaration and Action Plan.&amp;lt;ref name=&amp;quot;africa-facts.org&amp;quot;&amp;gt;{{Cite web|date=15 October 2018|title=What is BRICS {{!}} Africa Facts|url=https://africa-facts.org/what-is-brics/|access-date=4 November 2020|language=en-US}}&amp;lt;/ref&amp;gt;&lt;br /&gt;
|-&lt;br /&gt;
| 7th || 8–9 July 2015 || [[File:Flag_of_Russia.svg|25x25px|]] Russia  || [[Vladimir Putin]] || {{small|Ufa (Congress Hall)&amp;lt;ref&amp;gt;{{cite web|url=http://ufacity.info/eng/press/news/117306.html|title=Ufa to host SCO and BRICS summits in 2015|publisher=UfaCity.info|access-date=7 November 2013|archive-url=https://web.archive.org/web/20140325165310/http://ufacity.info/eng/press/news/117306.html|archive-date=25 March 2014|url-status=dead}}&amp;lt;/ref&amp;gt;}} || {{small|Joint summit with [[Shanghai Cooperation Organisation|SCO]]-[[Eurasian Economic Union|EAEU]]}}. The seventh summit discussed global, economic problems, and better ways to foster cooperation among member states.&amp;lt;ref name=&amp;quot;africa-facts.org&amp;quot;/&amp;gt;&lt;br /&gt;
|-&lt;br /&gt;
| 8th || 15–16 October 2016 || [[File:Flag_of_India.svg|25x25px|]] India || [[Narendra Modi]] || {{small|Benaulim (Taj Exotica)}} || {{small|Joint summit with [[BIMSTEC]]}}. The eighth BRICS summit debated on topics like counter-terrorism, economies, and climate change. BRICS also issued the Goa Declaration and Action Plan, hoping to harden their relationships.&amp;lt;ref name=&amp;quot;ReferenceA&amp;quot;&amp;gt;{{Cite web|date=15 October 2018|title=What is BRICS {{!}} Africa Facts|url=https://africa-facts.org/what-is-brics/|access-date=5 November 2020|language=en-US}}&amp;lt;/ref&amp;gt;&lt;br /&gt;
|-&lt;br /&gt;
| 9th || 3–5 September 2017 || [[File:Flag_of_the_People%27s_Republic_of_China.svg|25x25px|]] China || [[Xi Jinping]] || {{small|Xiamen (Xiamen International Conference Center)}} || {{small|Joint summit with EMDCD}}. The ninth summit was an event that talked about a bright future for BRICS and what their goals intend to be. They still covered and debated on international and regional issues with one another; hopeful to keep moving forward.&amp;lt;ref name=&amp;quot;ReferenceA&amp;quot;/&amp;gt;&lt;br /&gt;
|-&lt;br /&gt;
| 10th || 25–27 July 2018 || [[File:Flag_of_South_Africa.svg|25x25px|]] South Africa || [[Cyril Ramaphosa]] || {{small|Johannesburg (Sandton Convention Centre)}} ||The tenth summit had the members discuss their rising industries. Hoping they can cut a bigger slice of the industry market.&lt;br /&gt;
|-&lt;br /&gt;
| 11th || 13–14 November 2019 || [[File:Flag_of_Brazil.svg|25x25px|]] Brazil || [[Jair Bolsonaro]] || {{small|Brasília (Itamaraty Palace)}}&amp;lt;ref name=&amp;quot;BRICS Brazil&amp;quot;/&amp;gt; ||The eleventh summit discussed advancements in the BRICS&#039;s science and innovation fields. Primarily trying to advance technology and digital currency. They made mutual agreements to help stop drug trafficking and organized crime; both internationally and internally&lt;br /&gt;
|-&lt;br /&gt;
| 12th || 21–23 July 2020 (postponed due to [[COVID-19 pandemic]])&amp;lt;ref&amp;gt;{{Cite web|url=https://eng.brics-russia2020.ru/news/20200527/395729/BRICS-and-the-SCO-summits-postponed.html|title=BRICS and the SCO summits postponed &amp;amp;#124; Official website of the Russian BRICS Chairmanship in 2020}}&amp;lt;/ref&amp;gt;&amp;lt;br /&amp;gt; 17 November 2020 (video conference)&amp;lt;ref&amp;gt;{{cite news |title=BRICS Summit to be held virtually on Nov 17; strengthening cooperation, global stability on agenda |url=https://www.hindustantimes.com/india-news/brics-summit-to-be-held-virtually-on-nov-17-cooperation-strengthening-global-stability-on-agenda/story-Io02j2Xpb81KAx03C13O1M.html |access-date=5 October 2020 |work=Hindustan Times |date=5 October 2020 |language=en}}&amp;lt;/ref&amp;gt;|| [[File:Flag_of_Russia.svg|25x25px|]] Russia || Vladimir Putin || {{small|Saint Petersburg}}&amp;lt;ref&amp;gt;{{Cite web |url=https://www.rbc.ru/rbcfreenews/5d3209879a7947184d6b66f9 |title=Путин заявил о переносе саммитов БРИКС и ШОС из Челябинска |access-date=19 July 2019}}&amp;lt;/ref&amp;gt; || {{small|Joint summit with SCO}}. Discussing a mutual agreement on helping BRICS member countries to help foster better living standards and quality of life for each countries people. Plans on focusing on peace, economies, and cultural societal issues.&amp;lt;ref&amp;gt;{{Cite news|last=Chaudhury|first=Dipanjan Roy|title=BRICS Summit to be held virtually on November 17|work=The Economic Times|url=https://economictimes.indiatimes.com/news/politics-and-nation/brics-summit-to-be-held-virtually-on-november-17/articleshow/78495022.cms|access-date=20 October 2020}}&amp;lt;/ref&amp;gt;&lt;br /&gt;
|-&lt;br /&gt;
| 13th || 9 September 2021 (video conference) || [[File:Flag_of_India.svg|25x25px|]] India || Narendra Modi || {{small|New Delhi}} || {{small|BRICS Games 2021}}&amp;lt;ref&amp;gt;{{cite news |title=India plans to host BRICS Games during Khelo India Games in 2021 – Sports News , Firstpost |url=https://www.firstpost.com/sports/india-plans-to-host-brics-games-during-khelo-india-games-in-2021-8755221.html |work=Firstpost |date=26 August 2020}}&amp;lt;/ref&amp;gt;&lt;br /&gt;
|-&lt;br /&gt;
| 14th || 23 June 2022 (video conference) || [[File:Flag_of_the_People%27s_Republic_of_China.svg|25x25px|]] China || Xi Jinping || Beijing || &lt;br /&gt;
|-&lt;br /&gt;
| 15th || 2023 || [[File:Flag_of_South_Africa.svg|25x25px|]] South Africa || || TBA || &lt;br /&gt;
|}&lt;br /&gt;
&lt;br /&gt;
==Member countries==&lt;br /&gt;
{| class=&amp;quot;wikitable sortable&amp;quot; style=&amp;quot;text-align:center&amp;quot;&lt;br /&gt;
|-&lt;br /&gt;
! Country     &lt;br /&gt;
! Population (in Thousands) (2018)&lt;br /&gt;
! |PPP GDP bil. USD (2022 est.)&amp;lt;ref name=&amp;quot;autogenerated2&amp;quot;/&amp;gt;&lt;br /&gt;
! style=&amp;quot;font-size:85%&amp;quot; | PPP GDP per capita USD (2022 est.)&amp;lt;ref name=&amp;quot;autogenerated2&amp;quot;/&amp;gt;&lt;br /&gt;
! GDP growth&amp;lt;br /&amp;gt;(2022 est.)&amp;lt;ref&amp;gt;&lt;br /&gt;
{{Cite web |title=Report for Selected Countries and Subjects |url=https://www.imf.org/en/Publications/WEO/weo-database/2022/April/weo-report |access-date=2022-04-20 |website=IMF |language=en}}&lt;br /&gt;
&amp;lt;/ref&amp;gt;&lt;br /&gt;
! Government spending&lt;br /&gt;
! Exports&amp;lt;ref&amp;gt;&lt;br /&gt;
{{cite web |url=https://www.cia.gov/library/publications/the-world-factbook/rankorder/2078rank.html |title=The World Factbook — Central Intelligence Agency |publisher=Cia.gov |access-date=4 September 2017 |archive-url=https://web.archive.org/web/20081004073036/https://www.cia.gov/library/publications/the-world-factbook//rankorder/2078rank.html |archive-date=4 October 2008 |url-status=dead  }}&lt;br /&gt;
&amp;lt;/ref&amp;gt;&lt;br /&gt;
! Imports&amp;lt;ref&amp;gt;&lt;br /&gt;
{{cite web |url=https://www.cia.gov/library/Publications/the-world-factbook/rankorder/2087rank.html |title=The World Factbook — Central Intelligence Agency |publisher=Cia.gov |access-date=4 September 2017 |archive-url=https://web.archive.org/web/20081004070323/https://www.cia.gov/library/publications/the-world-factbook//rankorder/2087rank.html |archive-date=4 October 2008 |url-status=dead  }}&lt;br /&gt;
&amp;lt;/ref&amp;gt;&lt;br /&gt;
! Literacy rate&amp;lt;ref&amp;gt;&lt;br /&gt;
{{cite web|url=https://www.cia.gov/library/publications/the-world-factbook/fields/2103.html|title=Field Listing :: Literacy|website=[[The World Factbook]]|publisher=[[Central Intelligence Agency]]|access-date=6 March 2016|archive-url=https://web.archive.org/web/20161124171442/https://www.cia.gov/library/publications/the-world-factbook/fields/2103.html|archive-date=24 November 2016|url-status=dead}}&lt;br /&gt;
&amp;lt;/ref&amp;gt;&lt;br /&gt;
! Life expectancy (years, avg.)&amp;lt;ref&amp;gt;&lt;br /&gt;
{{cite web |url=http://apps.who.int/iris/bitstream/handle/10665/272596/9789241565585-eng.pdf |title=World Health Statistics 2018 |publisher=Who.int |date=6 June 2018 |access-date=3 January 2019 |archive-url=https://web.archive.org/web/20181206172337/http://apps.who.int/iris/bitstream/handle/10665/272596/9789241565585-eng.pdf |archive-date=6 December 2018 |url-status=live  }}&lt;br /&gt;
&amp;lt;/ref&amp;gt;&lt;br /&gt;
! HDI (2021)&amp;lt;ref&amp;gt;{{cite web |url= http://hdr.undp.org/sites/default/files/hdr2020.pdf |title= Human Development Report 2020|year=2020|access-date=5 November 2022 |publisher=United Nations Development Programme }}&amp;lt;/ref&amp;gt;&lt;br /&gt;
|-&lt;br /&gt;
| style=&amp;quot;text-align:left;&amp;quot; | &#039;&#039;&#039;[[File:Flag_of_Brazil.svg|25x25px|]] [[Federative_Republic_of_Brazil|Brazil]]&#039;&#039;&#039; ||[[File:Increase2.svg|11x11px|]]210,869.000||3,782||17,684||[[File:Increase2.svg|11x11px|]]4.6%||$846.6 bn ||$393.2 bn ||$201.9 bn ||94.4%||76.8||0.754 (high)&lt;br /&gt;
|-&lt;br /&gt;
| style=&amp;quot;text-align:left;&amp;quot; | &#039;&#039;&#039;[[File:Flag_of_Russia.svg|25x25px|]] [[Russian_Federation|Russia]]&#039;&#039;&#039; ||[[File:Increase2.svg|11x11px|]]143,964.709||4,649||31,967||[[File:Increase2.svg|11x11px|]]4.7%||$414.0 bn ||$336.8 bn ||$212.7 bn ||99.7%||72.7||0.822 (very high)&lt;br /&gt;
|-&lt;br /&gt;
| style=&amp;quot;text-align:left;&amp;quot; | &#039;&#039;&#039;[[File:Flag_of_India.svg|25x25px|]] [[Republic_of_India|India]]&#039;&#039;&#039; ||[[File:Increase2.svg|11x11px|]]&amp;lt;br&amp;gt;1,367,089.879||11,665||8,293||[[File:Increase2.svg|11x11px|]]8.9%||$616.0 bn ||$303.4 bn ||$426.8 bn ||72.1%||68.8||0.633 (medium)&lt;br /&gt;
|-&lt;br /&gt;
| style=&amp;quot;text-align:left;&amp;quot; | &#039;&#039;&#039;[[File:Flag_of_the_People%27s_Republic_of_China.svg|25x25px|]] [[People%27s_Republic_of_China|China]]&#039;&#039;&#039; ||[[File:Increase2.svg|11x11px|]]&amp;lt;br&amp;gt;1,415,045.928||30,074||21,291||[[File:Increase2.svg|11x11px|]]8.0%||$2,031.0 bn ||$3,363.0 bn ||$2,055.0 bn ||96.4%||76.4||0.768 (high)&lt;br /&gt;
|-&lt;br /&gt;
| style=&amp;quot;text-align:left;&amp;quot; | &#039;&#039;&#039;[[File:Flag_of_South_Africa.svg|25x25px|]] [[Republic_of_South_Africa|South Africa]]&#039;&#039;&#039; ||[[File:Increase2.svg|11x11px|]]57,398.421||949||15,556||[[File:Increase2.svg|11x11px|]]4.9%||$95.27 bn ||$78.25 bn ||$80.22 bn ||94.3%||63.6||0.713 (high)&lt;br /&gt;
|-&lt;br /&gt;
| style=&amp;quot;text-align:left;&amp;quot; | &#039;&#039;&#039;Average&#039;&#039;&#039; ||[[File:Increase2.svg|11x11px|]]627,060.914||8,119.9||19,041||[[File:Increase2.svg|11x11px|]]6.2%||$800.574 bn ||$562.94 bn ||$446.68 bn ||93%||71.2||0.741 (high)&lt;br /&gt;
|}&lt;br /&gt;
&lt;br /&gt;
[[Bangladesh]], [[Egypt]], [[United Arab Emirates]] and [[Uruguay]] are members of BRICS [[New Development Bank]].&lt;br /&gt;
&lt;br /&gt;
Argentina&#039;s potential accession has been supported by China according to several sources.&amp;lt;ref&amp;gt;{{cite web | url=https://brazilian.report/liveblog/2022/05/12/argentina-invited-brics/ | title=Argentina invited to BRICS Summit in May | date=12 May 2022 }}&amp;lt;/ref&amp;gt;&amp;lt;ref&amp;gt;{{Cite news |last1=Hafezi |first1=Parisa |last2=Faulconbridge |first2=Guy |date=2022-06-28 |title=Iran applies to join China and Russia in BRICS club |language=en |work=Reuters |url=https://www.reuters.com/world/middle-east/iran-applies-join-brics-group-emerging-countries-2022-06-27/ |access-date=2022-06-29}}&amp;lt;/ref&amp;gt;&lt;br /&gt;
&lt;br /&gt;
In addition, [[Algeria]], [[Bangladesh]], [[Indonesia]], [[Mexico]], [[Nigeria]], [[Iran]], [[Pakistan]], [[Saudi Arabia]], [[Sudan]], [[Syria]], [[Turkey]], [[Egypt]], [[Venezuela]] and [[Zimbabwe]] have expressed interest in membership of BRICS.&amp;lt;ref&amp;gt;&lt;br /&gt;
{{cite web|url=http://en.ria.ru/russia/20130427/180876832.html|title=Syria Seeks to Join Shanghai Group, BRICS – Minister|publisher=RIA Novosti|date=27 April 2013|access-date=7 November 2013|archive-url=https://web.archive.org/web/20140108000726/http://en.ria.ru/russia/20130427/180876832.html|archive-date=8 January 2014|url-status=live}}&amp;lt;/ref&amp;gt;&amp;lt;ref&amp;gt;&lt;br /&gt;
{{cite web|url=https://oilprice.com/Geopolitics/International/Emerging-Markets-Rush-To-Join-BRICS-Alliance-As-High-Energy-Prices-Persist.html|title=Emerging Markets Rush To Join BRICS Alliance As High Energy Prices Persist|publisher=Clarin|date=21 August 2022|access-date=21 August 2022|url-status=live}}&amp;lt;/ref&amp;gt;&amp;lt;ref&amp;gt;{{Cite web|url=https://calrev.org/2019/04/30/french-soft-power-resetting-african-relations/|title=FRANCE RESETS AFRICAN RELATIONS: A POTENTIAL LESSON FOR PRESIDENT TRUMP|last=Genin|first=Aaron|date=30 April 2019|website=The California Review|language=en-US|access-date=1 May 2019}}&amp;lt;/ref&amp;gt;&amp;lt;ref&amp;gt;{{Cite news |last=Dib |first=Nassima |date=July 31, 2022 |title=Président Tebboune: l&#039;Algérie satisfait en grande partie aux conditions d&#039;adhésion aux BRICS |language=French |work=[[Algeria Press Service]] |url=https://www.aps.dz/economie/143407-president-tebboune-l-algerie-satisfait-en-grande-partie-aux-conditions-d-adhesion-aux-brics |url-status=live |archive-url=https://web.archive.org/web/20220801040638/https://www.aps.dz/economie/143407-president-tebboune-l-algerie-satisfait-en-grande-partie-aux-conditions-d-adhesion-aux-brics |archive-date=August 1, 2022}}&amp;lt;/ref&amp;gt;&lt;br /&gt;
&lt;br /&gt;
==Financial architecture==&lt;br /&gt;
[[File:Shanghai skyline waterfront pudong 5166168 69 70.jpg|right|thumb|The New Development Bank (NDB) is based in Shanghai.]]&lt;br /&gt;
[[File:Signing of documents at 6th BRICS Summit.jpeg|right|thumb|The New Development Bank (NDB) and Contingent Reserve Arrangement (CRA) were signed into treaty at the 2014 BRICS summit in [[Brazil]].]]&lt;br /&gt;
[[File:NDB-Chart-BRICS.png|thumb|right|Equal distribution of shares between the shareholders of the NDB.]]&lt;br /&gt;
Currently, there are two components that make up the financial architecture of BRICS, namely, the New Development Bank (NDB), or sometimes referred to as the BRICS Development Bank, and the Contingent Reserve Arrangement (CRA). Both of these components were signed into treaty in 2014 and became active in 2015.&lt;br /&gt;
&lt;br /&gt;
===New Development Bank===&lt;br /&gt;
&lt;br /&gt;
{{Main article|New Development Bank}}&lt;br /&gt;
&lt;br /&gt;
The &#039;&#039;&#039;New Development Bank (NDB)&#039;&#039;&#039;, formally referred to as the &#039;&#039;&#039;BRICS Development Bank&#039;&#039;&#039;,&amp;lt;ref name=&amp;quot;headq&amp;quot;&amp;gt;&lt;br /&gt;
[http://indiasnaps.com/brics-bank-to-be-headquartered-in-shanghai-india-to-hold-presidency/ &amp;quot;BRICS Bank to be headquartered in Shanghai, India to hold presidency&amp;quot;] {{Webarchive|url=https://web.archive.org/web/20140812062235/http://indiasnaps.com/brics-bank-to-be-headquartered-in-shanghai-india-to-hold-presidency/ |date=12 August 2014 }}  . Indiasnaps.com. 16 July 2014&lt;br /&gt;
&amp;lt;/ref&amp;gt; is a multilateral development bank operated by the five BRICS states. The bank&#039;s primary focus of lending will be infrastructure projects&amp;lt;ref name=&amp;quot;allabout&amp;quot;&amp;gt;&lt;br /&gt;
{{cite news|url=https://www.washingtonpost.com/blogs/monkey-cage/wp/2014/07/17/what-the-new-bank-of-brics-is-all-about/|title=What the new bank of BRICS is all about|date=17 July 2014|newspaper=The Washington Post|access-date=20 July 2014|archive-url=https://web.archive.org/web/20140717190437/http://www.washingtonpost.com/blogs/monkey-cage/wp/2014/07/17/what-the-new-bank-of-brics-is-all-about/|archive-date=17 July 2014|url-status=live}}&lt;br /&gt;
&amp;lt;/ref&amp;gt;&amp;lt;ref name=&amp;quot;hpos&amp;quot;&amp;gt;&lt;br /&gt;
{{cite news|url=https://www.huffingtonpost.com/parag-khanna/new-brics-bank_b_5600027.html|title=New BRICS Bank a Building Block of Alternative World Order|date=18 July 2014|work=The Huffington Post|access-date=20 July 2014|archive-url=https://web.archive.org/web/20140719184109/http://www.huffingtonpost.com/parag-khanna/new-brics-bank_b_5600027.html|archive-date=19 July 2014|url-status=live}}&lt;br /&gt;
&amp;lt;/ref&amp;gt; with authorized lending of up to $34&amp;amp;nbsp;billion annually.&amp;lt;ref name=&amp;quot;hpos&amp;quot;/&amp;gt; South Africa will be the African Headquarters of the Bank named the &amp;quot;New Development Bank Africa Regional Centre.&amp;quot;&amp;lt;ref name=&amp;quot;bill&amp;quot;&amp;gt;{{cite news |url = http://in.rbth.com/world/2014/07/16/brics_countries_launch_100_billion_developmental_bank_currency_pool_36733.html |title =BRICS countries launch $100 billion developmental bank, currency pool |date= 16 July 2014 |publisher = Russia &amp;amp; India Report |access-date =20 July 2014}}&amp;lt;/ref&amp;gt; The bank will have starting capital of $50&amp;amp;nbsp;billion, with wealth increased to $100&amp;amp;nbsp;billion over time.&amp;lt;ref name=&amp;quot;ready&amp;quot;&amp;gt;{{cite news |url = http://in.rbth.com/economics/2014/07/10/brics_bank_ready_for_launch_-_russian_finance_minister_36599.html |title=BRICS Bank ready for launch – Russian Finance Minister |date= 10 July 2014|publisher= Russia &amp;amp; India Report |access-date=20 July 2014}}&amp;lt;/ref&amp;gt; Brazil, Russia, India, China, and South Africa will initially contribute $10&amp;amp;nbsp;billion each to bring the total to $50&amp;amp;nbsp;billion.&amp;lt;ref name=&amp;quot;bill&amp;quot; /&amp;gt;&amp;lt;ref name=&amp;quot;ready&amp;quot; /&amp;gt; It has so far 53 projects under way worth around $15&amp;amp;nbsp;billion.&amp;lt;ref&amp;gt;{{Cite web|title=History|url=https://www.ndb.int/about-us/essence/history/|access-date=9 November 2020|website=New Development Bank|language=en-US}}&amp;lt;/ref&amp;gt;&lt;br /&gt;
&lt;br /&gt;
Recently [[Bangladesh]], [[Egypt]], the [[United Arab Emirates]] and [[Uruguay]] were added as new members of BRICS New Development Bank (NDB).&amp;lt;ref&amp;gt;[https://www.reuters.com/world/middle-east/brics-development-bank-admits-uae-bangladesh-uruguay-new-members-2021-09-02/ BRICS development bank admits UAE, Bangladesh, Uruguay as new members]&amp;lt;/ref&amp;gt;&lt;br /&gt;
&lt;br /&gt;
===BRICS CRA===&lt;br /&gt;
&lt;br /&gt;
{{Main article|BRICS Contingent Reserve Arrangement}}&lt;br /&gt;
&lt;br /&gt;
The &#039;&#039;&#039;BRICS Contingent Reserve Arrangement&#039;&#039;&#039; (&#039;&#039;&#039;CRA&#039;&#039;&#039;) is a framework for providing protection against global liquidity pressures.&amp;lt;ref name=&amp;quot;allabout&amp;quot;/&amp;gt;&amp;lt;ref name=&amp;quot;ready&amp;quot;/&amp;gt;&amp;lt;ref name=&amp;quot;rics&amp;quot;&amp;gt;{{cite news|url=http://in.rbth.com/world/2014/07/17/brics_currency_fund_to_protect_members_from_volatility_-_russias_top_ba_36767.html|title=BRICS currency fund to protect members from volatility – Russia&#039;s top banker|date= 17 July 2014|publisher= Russia &amp;amp; India Report|access-date=20 July 2014}}&amp;lt;/ref&amp;gt; This includes currency issues where members&#039; national currencies are being adversely affected by global financial pressures.&amp;lt;ref name=&amp;quot;allabout&amp;quot;/&amp;gt;&amp;lt;ref name=&amp;quot;rics&amp;quot;/&amp;gt; It is found that emerging economies that experienced rapid economic liberalization went through increased economic volatility, bringing an uncertain macroeconomic environment.&amp;lt;ref&amp;gt;{{Cite journal | doi=10.1080/10220461.2015.1069208|title = The rationale for and potential role of the BRICS Contingent Reserve Arrangement| journal=South African Journal of International Affairs| volume=22| issue=3| pages=307–324|year = 2015|last1 = Biziwick|first1 = Mayamiko| last2=Cattaneo| first2=Nicolette| last3=Fryer| first3=David|s2cid = 153695521}}&amp;lt;/ref&amp;gt; The CRA is generally seen as a competitor to the [[International Monetary Fund]] (IMF) and along with the [[New Development Bank]] is viewed as an example of increasing South-South cooperation.&amp;lt;ref name=&amp;quot;allabout&amp;quot;/&amp;gt; It was established in 2015 by the BRICS countries. The legal basis is formed by the &#039;&#039;Treaty for the Establishment of a BRICS Contingent Reserve Arrangement&#039;&#039;, signed at Fortaleza, Brazil on 15 July 2014. With its inaugural meetings of the BRICS CRA Governing Council and Standing Committee, held on 4 September 2015, in Ankara, Turkey&amp;lt;ref&amp;gt;&lt;br /&gt;
[http://www.cbr.ru/eng/press/pr.aspx?file=04092015_185039eng2015-09-04T18_46_05.htm On the BRICS Contingent Reserve Arrangement (CRA) Governing Council and Standing Committee inaugural meetings] {{Webarchive|url=https://web.archive.org/web/20161002172250/http://www.cbr.ru/eng/press/pr.aspx?file=04092015_185039eng2015-09-04T18_46_05.htm |date=2 October 2016 }}  4 September 2015. Retrieved 22 September 2016&lt;br /&gt;
&amp;lt;/ref&amp;gt; it entered into force upon ratification by all BRICS states, announced at the 7th BRICS summit in July 2015.&lt;br /&gt;
&lt;br /&gt;
===BRICS payment system===&lt;br /&gt;
&lt;br /&gt;
At the 2015 BRICS summit in Russia, ministers from BRICS nations, initiated consultations for a payment system that would be an alternative to the [[Society for Worldwide Interbank Financial Telecommunication|Society for Worldwide Interbank Financial Telecommunication (SWIFT)]] system. Russian Deputy Foreign Minister Sergey Ryabkov stated in an interview, &amp;quot;The finance ministers and executives of the BRICS central banks are negotiating ... setting up payment systems and moving on to settlements in national currencies. SWIFT or not, in any case we’re talking about ... a global multilateral payment system that would provide greater independence, would create a definite guarantee for BRICS.&amp;quot;&amp;lt;ref&amp;gt;[https://haryana.pscnotes.com/international/dmpq-brics-payment-system/ BRICS payment system]&amp;lt;/ref&amp;gt;&lt;br /&gt;
&lt;br /&gt;
The Central Bank of Russia (CBR) also started consultations with BRICS nations for a payment system that would be an alternative to the SWIFT system. The main benefits highlighted were backup and redundancy in case there were disruptions to the SWIFT system. The Deputy Governor of the Central Bank of Russia, Olga Skorobogatova, stated in an interview, &amp;quot;The only topic that may be of interest to all of us within BRICS is to consider and talk over the possibility of setting up a system that would apply to the BRICS countries, used as a backup.&amp;quot;&amp;lt;ref&amp;gt;{{cite news |url=http://in.rbth.com/economics/2015/06/01/russia_offers_to_discuss_brics_prototype_of_swift_global_system_43421 |title=Russia offers to discuss BRICS prototype of SWIFT global system |work=Russia &amp;amp; India Report |date=1 June 2015 |access-date=26 March 2016}}&amp;lt;/ref&amp;gt;&lt;br /&gt;
&lt;br /&gt;
China has also initiated the development of their own SWIFT-alternative payment-system called the [[Cross-Border Inter-Bank Payments System|Cross-Border Inter-Bank Payments System (CIPS)]], which would provide a network that enables financial institutions worldwide to send and receive information about financial transactions in a secure, standardized, and reliable environment.&amp;lt;ref name=&amp;quot;Reuters1&amp;quot;&amp;gt;&lt;br /&gt;
{{cite news |url=https://www.reuters.com/article/us-china-yuan-payments-exclusive-idUSKBN0M50BV20150309?irpc=932 |title=Exclusive: China&#039;s international payments system ready, could launch by end-2015 – sources |newspaper=Reuters |date=9 March 2015 |access-date=10 March 2015 |archive-url=https://web.archive.org/web/20150924214126/http://www.reuters.com/article/2015/03/09/us-china-yuan-payments-exclusive-idUSKBN0M50BV20150309?irpc=932 |archive-date=24 September 2015 |url-status=live  }}&amp;lt;/ref&amp;gt; India also has its alternative [[Structured Financial Messaging System|Structured Financial Messaging System (SFMS)]], as does Russia with its [[SPFS|Система передачи финансовых сообщений (СПФС)/System for Transfer of Financial Messages (SPFS)]].&lt;br /&gt;
&lt;br /&gt;
==Reception==&lt;br /&gt;
[[File:14 11 2019 Diálogo dos Líderes com o Conselho Empresarial do BRICS e o Novo Banco de Desenvolvimento (49066644892).jpg|thumb|right|The five leaders of BRICS in [[Brasília]], [[Brazil]].]]&lt;br /&gt;
In 2012, [[Hu Jintao]], the then General Secretary of the Chinese Communist Party and President of China, described the BRICS countries as defenders and promoters of developing countries and a force for world peace.&amp;lt;ref name=&amp;quot;BRICS Peace Defender&amp;quot;&amp;gt;&lt;br /&gt;
{{cite web|title=Brics a force for world peace, says China|url=http://www.businessday.co.za/articles/Content.aspx?id=168422|website=[[Business Day (South Africa)|4=Business Day]]|date=8 August 2012|access-date=9 November 2013|archive-url=https://archive.today/20130422020755/http://www.businessday.co.za/articles/Content.aspx?id=168422|archive-date=22 April 2013|url-status=live}}&lt;br /&gt;
&amp;lt;/ref&amp;gt;&lt;br /&gt;
&lt;br /&gt;
===BRICS Pro Tempore Presidency===&lt;br /&gt;
The group at each summit elects one of the heads of state of the component countries to serve as President Pro Tempore of the BRICS. In 2019, the pro tempore presidency was held by the president of Brazil.&amp;lt;ref&amp;gt;{{Cite web |url=http://brics.itamaraty.gov.br/images/CALENDARIOPRESIDENCIAAFRICANA.pdf |title=Archived copy |access-date=30 July 2018 |archive-url=https://web.archive.org/web/20180730203248/http://brics.itamaraty.gov.br/images/CALENDARIOPRESIDENCIAAFRICANA.pdf |archive-date=30 July 2018 |url-status=dead }}&amp;lt;/ref&amp;gt;&lt;br /&gt;
&lt;br /&gt;
The theme of the 11th BRICS summit was &amp;quot;BRICS:economic growth for an innovative future&amp;quot;, and the priorities of the Brazilian Pro Tempore Presidency for 2019 are the following -Strengthening of the cooperation in Science, technology and innovation; Enhancement of the cooperation on digital economy; Invigoration of the cooperation on the fight against transnational crime, especially against organized crime, money laundering and drug trafficking; Encouragement to the rapprochement between the New Development Bank (NDB) and the BRICS Business Council.&amp;lt;ref&amp;gt;{{Cite web|url=http://brics2019.itamaraty.gov.br/en/2019-brazilian-presidency/theme-and-priorities|title=BRICS BRASIL 2019 – Theme and priorities|website=brics2019.itamaraty.gov.br}}&amp;lt;/ref&amp;gt; Currently the new President Pro Tempore is Russia and their goals are: investing into BRICS countries in order to strengthen everyone&#039;s economies, cooperating in the energy and environmental industries, helping with young children and coming up with resolutions on migration and peacekeeping.&amp;lt;ref&amp;gt;{{Cite web|title=BRICS information portal|url=http://infobrics.org/|access-date=26 October 2020|website=BRICS|language=en}}&amp;lt;/ref&amp;gt;  &lt;br /&gt;
&lt;br /&gt;
==Current leaders==&lt;br /&gt;
{| class=&amp;quot;wikitable&amp;quot; style=&amp;quot;width:70%;&amp;quot;&lt;br /&gt;
|-&lt;br /&gt;
! Member&lt;br /&gt;
! Image&lt;br /&gt;
! Name&lt;br /&gt;
! Position&lt;br /&gt;
|-&lt;br /&gt;
| [[File:Flag_of_Brazil.svg|25x25px|]] [[Federative_Republic_of_Brazil|Brazil]]&lt;br /&gt;
| [[File:Jair_Bolsonaro.png|150px]]&lt;br /&gt;
| [[Jair Bolsonaro]]&lt;br /&gt;
| President of Brazil&lt;br /&gt;
|-&lt;br /&gt;
| [[File:Flag_of_the_People%27s_Republic_of_China.svg|25x25px|]] [[People%27s_Republic_of_China|China]]&lt;br /&gt;
| [[File:Xi_Jinping_waving_hand.jpg|150px]]&lt;br /&gt;
| [[Xi Jinping]]&lt;br /&gt;
| President of China&lt;br /&gt;
|-&lt;br /&gt;
| [[File:Flag_of_India.svg|25x25px|]] [[Republic_of_India|India]]&lt;br /&gt;
| [[File:Modi.png|150px]]&lt;br /&gt;
| [[Narendra Modi]]&lt;br /&gt;
| Prime Minister of India&lt;br /&gt;
|-&lt;br /&gt;
| [[File:Flag_of_Russia.svg|25x25px|]] [[Russian_Federation|Russia]]&lt;br /&gt;
| [[File:Putin.png|150px]]&lt;br /&gt;
| [[Vladimir Putin]]&lt;br /&gt;
| President of Russia&lt;br /&gt;
|-&lt;br /&gt;
| [[File:Flag_of_South_Africa.svg|25x25px|]] [[Republic_of_South_Africa|South Africa]]&lt;br /&gt;
| [[File:Secretary_Blinken_Meets_with_President_Ramaphosa_(52274438927)_(cropped).jpg|150px]]&lt;br /&gt;
| [[Cyril Ramaphosa]]&lt;br /&gt;
| President of South Africa&lt;br /&gt;
|}&lt;br /&gt;
&lt;br /&gt;
==See also==&lt;br /&gt;
* [[Shanghai Cooperation Organisation]] &lt;br /&gt;
* [[BRICS Games]]&lt;br /&gt;
&lt;br /&gt;
&lt;br /&gt;
== Citations ==&lt;br /&gt;
{{Reflist}}&lt;br /&gt;
&lt;br /&gt;
=== Sources ===&lt;br /&gt;
* [http://www.bhaskar.com/news/NAT-NAN-brics-summit-in-goa-news-and-updates-news-hindi-5439612-PHO.html &amp;quot;Eighth Annual BRICS Summit in Goa: (Narendra Modi, Vladimir Putin, Michel Temer, and Xi Jinping)&amp;quot;], &#039;&#039;Dainik Bhaskar&#039;&#039;, 15 October 2016.&lt;br /&gt;
&lt;br /&gt;
==External links==&lt;br /&gt;
* &#039;&#039;[https://infobrics.org/ Official Website]&#039;&#039;&lt;br /&gt;
[[Category:Intergovernmental organizations]]&lt;/div&gt;</summary>
		<author><name>AntPL</name></author>
	</entry>
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