• _edge@discuss.tchncs.deEnglish
    2·
    5 months ago

    ELI5: why is BRICS suddenly a thing and what is it?

    I’ve always known BRIC to mean four countries, which may or may not have similar interests. Ok, add South Africa, that makes it 5 countries.

    Until recently, I did not think of BRICS as a bloc or an organisation. What are they? What does it mean if a country seeks to join?

    • scarrtt@lemm.eeEnglish
      3·
      5 months ago

      Most of the countries that are deciding to join recently are getting absolutely eviscerated by the dollar when it comes to foreign exchange, they all have very weak currencies because the dollar is just so incredibly strong relative to everywhere else.

      It’s a lot more complicated than just that, but that definitely seems to be a catalyst at the moment