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Absolutely astonishing that Iran and Saudi Arabia would be admitted side-by-side. Geopolitical arch-rivals joining the same economic bloc like this might signal a watershed moment for multipolarity.
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Absolutely astonishing that Iran and Saudi Arabia would be admitted side-by-side. Geopolitical arch-rivals joining the same economic bloc like this might signal a watershed moment for multipolarity.
Egypt/ Ethiopia is a bold move too.
Maybe the bloc can be a mediator for the Nile damn conflict, since it’s a big economic issue for both.
That’s what immediately sprung to mind for me as well. If they could come to a compromise about the hydro reservoir filling speed, that’d be a huge increase in stability for the whole area.
Most likely the New Development Bank will give loans to Ethiopia to fill up the damn slowly.
Egypt doesn’t have to worry about the river running low, and Ethiopia can balance the lost gains from filling up the damn quickly with cheap cash from BRICS.
One of those things that shows you the relative shallowness of BRICS as an entity-if you can even call it that-I suppose it’s more so of an association. People are saying “it’s the end of the (petro)dollar!” but really BRICS is an empty facade and those parallel institutions that are emerging to challenge US hegemony have nothing to do with BRICS itself, just its member states-China in particular. Egypt and Ethiopia would go to war before they meaningfully challenged American hegemony as one (GERD).
I simply do not subscribe to the idea that so many on here have that BRICS in its current or even near-future form is some massive game changer in global politics. There are more important institutional changes in the global infrastructure in the past 10 years, mainly stuff led by China, which are not related to BRICS outside the “C” being China.
More importantly-the acronym is RUINED and I am very upset.
I was so taken aback by Iran and Saudi that I didn’t even pick up on that. I suppose it’s not unprecedented in BRICS since China and India have that perpetual border kerfuffle.