indushek
SENIOR MEMBER
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This is what happens when one starts to completely divulg,e from original objectives.Saudi Arabia is a sovereign country and can make its own decisions, it normally does.
Question is what BRICS has to offer to Saudi Arabia? Is this a feel-good bloc? An experiment?
At it core Brics was formed to
Cooperation, development, and influence in world affairs are at the heart of the BRICS goals. The following are a few of the main BRICS goals: Economic cooperation: encouraging trade, cooperation and growth among members, as well as improving BRICS economies' access to markets.
Back in 2009 the original Members Brazil Russia India and China, all were on a steady growth path. Relations with West in general were good, and these four came together to further develop cooperation on different matters especially on trade and access to markets. Basically economic cooperation.
What is the situation today?
Brazil no longer posts growth numbers
Russia has failed to innovate and still relies on military sales, Gas and Oil sales along with fertilizers
China has slowed down economically, and faces internal turmoil
Only India has maintained the growth trajectory
Point to be noted though is that, all these four including South Africa who came in later are heavily dependent on Western Markets and Investments. So any anti Western talk will crash this badly
Present status:
China wanting to break free of Western hegemony and trying to assert itself, wants to make this anti West (not overtly though). Brazil and India will not allow this, which will risk their access to Western markets and tech.
Russia due to the War and freezing of its funds, desperately wants to build a alternate to Swift and Dollar. This is impossible given no other currency has the convertibility of Dollar.
A export based economy, a fossil fuel based economy cannot replace a Innovation based economy.
All members are pulling the Org in opposite directions.