By Rhod Mackenzie
In May 2023, the Russian economy grew at an annualized rate of 5.4% after 3.4% in April. Industrial production by industry shows significantly better results, and they are fixed not only against the low base of last year, but also by 2021.
The growth of industrial production in...
By Naseem Javed
Measuring BRICS in single decades, in 2001, BRIC started as an acronym for Brazil, Russia, India, and China; Goldman Sachs economist Jim O’Neill claimed that by 2050 the four BRIC economies would come to dominate the global economy. So South Africa was added to BRIC in 2010. The fo...
By Ben Aris
The dollar is becoming toxic in regular transactions, Russian Deputy Minister of Foreign Affairs Alexander Pankin told reporters. Several countries have drastically reduced their dollar reserves while increasing their gold reserves in 2022.
"These trends show that the US dollar is be...
By Rhod Mackenzie
The BRICS New Development Bank (NDB) has issued an RMB-denominated bond of 8.5 billion yuan (about 1.2 billion U.S. dollars) on the China Interbank Bond Market, the bank announced. It is the bank's biggest RMB bond issuance to date.
The net proceeds from the sale of the bonds...
By Nivedita Das Kundu
Introduction
The BRICS (Brazil, Russia, India, China, South Africa) alliance is reshaping the world order by shifting power from the 'Global North' to the 'Global South'. Originally coined by Jim O'Neill in 2001 as BRIC, the acronym was expanded in 2010 to include South Afri...
By Timofei Bordachev.
Expectations about the role of the BRICS in world affairs are shaped independently of the will of the participants in this group: they become the product of the evolution of the entire international order in a direction whose main features we have yet to witness,
The BRICS...