3 July 2023
The increasing number of nations seeking to join BRICS, a group of emerging economies, highlights the importance of geopolitics. Currently, 36 nations have applied or expressed interest in joining, representing over 60% of the world’s population and one-third of global GDP. The BRICS summit in Johannesburg in August may include discussions about a new trade currency backed by gold. Russia’s economic situation, including a declining trade surplus and weakening currency, suggests the need for President Putin to address Ukraine’s conflict. There are indications that Russia may attack Kiev to end Ukraine’s instability. Additionally, plans for a new trade currency tied to gold are being developed, with potential implications for global markets and the future of the US dollar. The BRICS membership is expanding, with diverse countries showing interest, including France. The integration of BRICS with the Shanghai Cooperation Organisation (SCO) could create a powerful trade bloc independent of the US and EU, with military and intelligence cooperation. A new trade currency announcement may come from the BRICS summit, laying the groundwork for future changes in global trade infrastructure.