Which country proposed the establishment of BRICS?

[coolcoinz]

I mean among the four countries, which one among them brought up the offer. Which I guessed to either be China or Russia.

No, this was not how BRICS was formed, it was neither China or Russia that came up with the idea, they weren't even the ones that came up with that acronym. From what i could garner online, it was Jim O'Neill, a Goldman Sachs economist that came up with the acronym BRIC, he used it to recognize four countries with very fast growing economies that (according to him), could rival the economic powerhouses like the U.S and others from the West.

These four countries found the idea interesting and decided to make a group from it, South Africa later joined them and it became BRICS.

Sure, it wasn't the idea of any of these countries, but when it came to life someone had to make the first step and IMO that country was Russia. Do you know how treaties are usually signed? When a country capitulates it signs it on the territory of the country it capitulates to. When you throw a party, you usually invite people to your house. The first BRICS summit took place in Russia.

It might be a coincidence, but 2009 was the year in which Obama started his term and also the fist bitcoin block was mined

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[God bless u]

I think the country that will first move to establish BRICS will be China or Russia.

Such countries are the ones with the motive of dedollarization. Some other countries that are joining BRICS may not think about dedollarization but about some benefits of joining the organisation, although while some may also think about it.

Chinese Yuan recently become the most traded currency in Russia. Some other country are joined BRICS while some other countries are planing to join. Most of the imported products that these countries are using are from China. I see China looking for ways to make Yuan dominant the US dollar as most countries are depending on China than China are depending on them.

BRICS is nothing more than China wants to dominate the economy.

I can not forget this old news: Chinese lenders, the Export-Import Bank of China, also known as Exim Bank, has taken over the Ugandan Entebbe International Airport and other assets in the country over the failure of the Ugandan government to repay a loan.


I hope these countries will wake up and know that China may not be their friend. Why BRICS?

I think that had to happen one day. At the time of my childhood I used to hear that British empire was the one on which there is no sunset but every power has its end and one day there is always a power shift.

America was super power from decades and now it's time for the power shift that I talked about recently. China is the best candidate for that due to its advance technology and strong fundamentals. It has progressed very well and now it's time for it to try it's level best to dominate the world. Due to Ukraine and Palestine issue America is under immense pressure and chine will take benefit from it.

[Oshosondy]

I mean among the four countries, which one among them brought up the offer. Which I guessed to either be China or Russia.

No, this was not how BRICS was formed, it was neither China or Russia that came up with the idea, they weren't even the ones that came up with that acronym. From what i could garner online, it was Jim O'Neill, a Goldman Sachs economist that came up with the acronym BRIC, he used it to recognize four countries with very fast growing economies that (according to him), could rival the economic powerhouses like the U.S and others from the West.

These four countries found the idea interesting and decided to make a group from it, South Africa later joined them and it became BRICS.

I do not agree with you. Jim O'Neill did not proposed the establishment of BRIC, although he coined it. There is something the internet is not telling you about how BRICS was formed. It is possible that either China or Russia saw it as an advantage to reduced the economic power and sanction effect of the United States used it as an opportunity.

I found this about BRICS:

The organization seeks to deepen economic cooperation between the member countries and stand in contrast to the Western sphere of power.

BRICS sees itself as countering the traditional Western-led global order, with some member states viewing the organization as a way to boost their influence around the world.

China and Russia among the countries that joined can mostly have this motive, while others will instead have other motives that can help the economy of their countries. Another country that is among them that I think can have such motive is Iran but the country join in 2024 or so.

This is not about reality and not only what is read on the news or Internet.

[peter0425]

I do not agree with you. Jim O'Neill did not proposed the establishment of BRIC, although he coined it. There is something the internet is not telling you about how BRICS was formed. It is possible that either China or Russia saw it as an advantage to reduced the economic power and sanction effect of the United States used it as an opportunity.

Honestly with how these two countries are, it is not that far off from reality. The two countries do not have an official alliance with each other but they have one common enemy and that is the United States. They know that if they join forces they can finally put the us dollar down to its place hence why the formation of brics was probably a propaganda to implement dedollarization

[tabas]

China has it all set with all of the alliances that are joining BRICS. It's known that China and Russia were all allies long time before this organization has been made. And if it's about the history, it's also since time immemorial when the Chinese people have been doing trades here and there and until now they does but with the show of some buff on their strength through army and economy. While US triggers war for the sales of the arms and weaponries, Chinese is doing an overtaking through economic style with their purpose of loaning and putting those countries indebted to them as they call the "Chinese debt trap". Sounds smart and together with the emergence of their products in the technology sector, no doubt that it's going to take a few years until we see them have a stronger economy.

[Scarlett_23]

BRICS is an organization of the world's emerging economic powers. Its leaders are considered important figures in world politics. Basically the countries behind BRICS are Brazil, Russia, India, China and South Africa. About half of the world's population lives in the BRICS countries. BRICS countries account for about 4th of the world's GDB. We have a rough idea about these things. 

Now let's talk about China and Russia. After Ukraine's war with Russia, the West imposed many sanctions. But Russia is quite capable of exporting and energy. Russia has strengthened itself by selling energy to China and India. As a result, there has been some crisis in the existence of the dollar. Russia is trading in Chinese yuan instead of dollars. Apart from Russia, countries like India, Pakistan, Kazakhstan are exchanging money in yuan. China stands to gain a lot from the war with Russia.

[Kamasylvia]

In fact, I think China and Russia are aiming to destroy the empire of the US dollar, and China's role is more important than Russia's in expanding the world's economic influence. In fact, they will only want to dominate the currency that they can control.

The geopolitical dynamics surrounding the US dollar and global economic influence are complex and evolving. While it is true that China and Russia have expressed aspirations to reduce the dominance of the US dollar, the ultimate outcome is uncertain and subject to various factors.

China has been working to internationalize its currency, the yuan, and increase its use in global trade and financial transactions.

[Kelward]

The country that will be the first to propose the formation of BRICS would be China, probably seconded by Russia, this two world powers are in the forefront to dethrone the US dollar as the dominant recognized currency in the world. China, with their advancements in technology and being a leading industrialized country, that exports it's products to the rest of the world will not want it's competitor's currency, US dollar to be the medium of it's exchange. So the BRICS formation should be primarily to reduce the influence and dominance of the US dollar in international trades, we'll just have to watch and see how it materializes.

[harapan]

China has been fighting to be in charge of world power,and it seems they're so close to achieving thier dreams using the BRICS as a means to get to the top and executing their plans.

They tend to blame dollar for everything but they fail to realize that the dollar will work perfectly with collective efforts and supports from their various components.China has the most controlling force+efforts+ideas put all together to defeat Dollar.If you check very well you'll notice that China is the leading factor of BRICS.China is using BRICS to promote,protect and establish their interest.What they choose and think is best for everyone that's what they're initiating.

China's objective of dominance is been reflected through BRICS,so far,it has played a crucial role of enhancing and ensuring progress amongst her BRICS countries.So long as the BRICS is concerned with trade,maintaining a stable political system,eliminating social injustice and fighting factors that seems to hinder her progress,China will continue to be in charge  because that's what they've desired all along.

[Fortify]

I think the country that will first move to establish BRICS will be China or Russia.

Such countries are the ones with the motive of dedollarization. Some other countries that are joining BRICS may not think about dedollarization but about some benefits of joining the organisation, although while some may also think about it.

Chinese Yuan recently become the most traded currency in Russia. Some other country are joined BRICS while some other countries are planing to join. Most of the imported products that these countries are using are from China. I see China looking for ways to make Yuan dominant the US dollar as most countries are depending on China than China are depending on them.

BRICS is nothing more than China wants to dominate the economy.

I can not forget this old news: Chinese lenders, the Export-Import Bank of China, also known as Exim Bank, has taken over the Ugandan Entebbe International Airport and other assets in the country over the failure of the Ugandan government to repay a loan.


I hope these countries will wake up and know that China may not be their friend. Why BRICS?

What do you mean, propose? It already "exists" in the sense that it is a grouping of countries whose economies are meant to act as a counter weight to the power of places like Europe/America/Australia/etc. It is a description that these countries already have a trading relationship, but would not necessarily find it beneficial to integrate any further. India and China are becoming ever more economically adversarial and as Xi Jinping continues to fuck up his country by taking the authoritarian Mao-esque route, India is going to pick up a lot of extra business as foreign companies abandon China. Russia is a basketcase again, after it was cut off from a lot of advanced tech due to their invasion of a peaceful neighbor. South Africa is a fragment of it's former self that got it into this group. None have any particular interest in joining further, except maybe Russia which will be consumed by China.