Well, well, well! It seems the BRICS economic alliance is swelling like a summer river after a rainstorm, as more countries hop on the de-dollarization bandwagon. 🌧️💸
On a fine Friday, the Brazilian government, which currently wears the crown of this merry band, announced that Vietnam would be joining the ranks as a “partner country.” Now, don’t get too excited, folks; partner countries are like the friends you invite to the party but don’t let them eat the cake. 🎂
Vietnam, bless its heart, is now the 10th partner country, joining the likes of Belarus, Bolivia, Kazakhstan, Cuba, Malaysia, Nigeria, Thailand, Uganda, and Uzbekistan. Quite the eclectic mix, wouldn’t you say? 🤷♂️
Now, let’s take a stroll down memory lane. The BRICS held its inaugural summit back in 2009, when it was just a wee little BRIC, standing for Brazil, Russia, India, and China. It grew up fast, adding South Africa to the mix the very next year. Talk about a growth spurt! 📈
Fast forward to 2024, and the club expanded its membership to include Iran, Egypt, Ethiopia, and the United Arab Emirates, with Indonesia crashing the party in early 2025. It’s like a global potluck, but everyone’s bringing their own currency! 🍽️
Now, Brazil claims that Saudi Arabia is part of this merry band, but the Middle Eastern nation seems to be playing hard to get, avoiding formal membership like it’s a bad cold. Can’t blame them for not wanting to ruffle Uncle Sam’s feathers! 🦅
According to Brazil, the current priorities of BRICS include “facilitating economic transactions between bloc countries, such as the use of local currencies; developing international payment platforms; cooperating in government procurement; and promoting trade facilitation measures.” Sounds fancy, doesn’t it? But let’s be honest, it’s just a lot of bureaucratic mumbo jumbo! 🏛️
In 2023, the alliance reportedly began working on a common currency backed by gold and other shiny things to escape the clutches of the US dollar. However, in early 2025, some members claimed they weren’t really pushing for de-dollarization. Ah, the sweet smell of contradiction! 😅
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2025-06-14 20:01