Banca March: More than 60 developing countries from Latin America, Africa and Asia are attending the meeting, which has been running since Tuesday and will continue until Thursday. During these days, the BRICS are considering adding new members from among 23 possible candidates that have not yet been revealed, although there is speculation about countries such as Iran, Venezuela and Saudi Arabia, among others.
The terms of admission remain undefined, although the requirements could include joining the New Development Bank, whose headquarters are in Shanghai. India, for its part, is raising tensions with the Asian giant and is showing its opposition to such expansion.
In a context of fragmentation between the US and China, the latter is pushing to establish the BRICS bloc as a geopolitical rival to the G7. The South African foreign minister has already dismissed this idea of rivalry. In turn, China suggests a process of de-dollarisation, in which trade among BRICS members would be conducted in renminbi or local currencies.
