BRICS+ Expansion: Shaping Global Economics and Geopolitics

From BRIC to BRICS, adding South Africa, and now evolving into BRICS+ with the inclusion of the UAE, Saudi Arabia, Egypt, Ethiopia, Iran, and Argentina, the economic grouping has witnessed a remarkable transformation throughout its history, expanding its membership to eleven countries starting from January 1, 2014. But will this group's impact be felt on the global economy?

According to some analysts, the entry of these six countries into BRICS will strengthen the group's positions and demands for global economic stability. This move might counterbalance the global polarization dominated by the United States, promoting the idea of multiple international poles.

BRICS' expansion also enhances its role as a geopolitical alternative to Western-led economic forums like the G7. 

However, this expansion could fuel concerns about increasing global division, as indicated by the US newspaper "The New York Times."

Furthermore, these eleven countries collectively control over thirty percent of the world's land area, potentially influencing global trade, transportation, and supply routes. Notably, the recently added countries also control strategic international straits.
With the entry of Iran, Saudi Arabia, the UAE, and others, BRICS gains a substantial addition to its oil and gas reserves, giving it extra global leverage in energy markets and related interactions.

Among the goals of the BRICS group, according to some observers, is the potential launch of a unified currency, which could challenge the dominance of the US dollar. Expanding trade among member states using their local currencies could also be a target.

Yet, economic experts argue that breaking the dollar's dominance faces significant hurdles. Around ninety percent of global trade is conducted in dollars, making it nearly impossible to achieve in the near future.

So, as the BRICS group expands before the eyes of the West, the question remains: who or what can halt this expansion?