The promise of BRICS
Posted by: John Phoenix
Since the organisation now known as BRICS was founded in 2009 it has evolved considerably under the pressure of the world crisis of imperialism. Founded as a group initially consisting of Brazil, Russia, India and the Peoples Republic of China (South Africa joined in 2010), it arose out of a shared frustration on the part of the four founding members of the group at the dominance of the US in terms of its control over most of the international institutions that currently exist, such as the UN, IMF, World Bank and World Trade Organisation. The foundation of BRICS and its subsequent expansions have seen it evolve into an alternative international organisation that countries are now queueing up to join as US dominance of the international financial an...