What changes are BRICS making in the world

What changes are BRICS making in the world

Economic Cooperation

  1. New Development Bank: Expansion of the New Development Bank (formerly known as the BRICS Bank) to include and benefit other countries.
  2. Trade Agreements: Exploring possibilities for new free trade agreements or economic partnerships with emerging and developed economies.
  3. Alternative Financing: Providing an alternative to Western-led financial institutions for project financing and development loans.

Political Influence

  1. United Front on Global Issues: Greater influence in international politics by presenting a united front on global issues like climate change, trade tariffs, and geopolitical conflicts.
  2. Multilateralism: Advocacy for a multipolar world, as opposed to one dominated by Western powers, particularly the United States.
  3. Reform of International Institutions: Pushing for reforms in institutions like the UN Security Council, IMF, and World Bank to better represent emerging economies.

Social and Cultural Exchanges

  1. Educational and Cultural Programs: Expanding educational and cultural exchange programs to foster better relations among an expanded list of countries.
  2. Technology and Innovation: Collaborative efforts in technology and innovation, often aimed at reducing the technological gap between BRICS+ countries and developed nations.

Regional Stability

  1. Security Alliances: While BRICS is primarily an economic alliance, an expanded BRICS+ could involve strategic partnerships aimed at maintaining regional stability.
  2. Counter-Terrorism: Enhanced cooperation in counter-terrorism efforts.

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