SHOULD GHANA JOIN BRICS? INSIGHTS FROM JACOB ZUMA – UPSA LEADERSHIP LECTURES
BRICS and the Shifting Global Order The BRICS grouping, coined by Jim O’Neill of Goldman Sachs in 2001, includes Brazil, Russia, India, China, and, later, South Africa. This group represents key emerging economies, aiming to reshape global economic governance to better represent the interests of rapidly developing countries. Today, BRICS has evolved into a significant multilateral platform, accounting for over 40% of the global population and more than 30% of world GDP in purchasing power parity (PPP), along with a growing share of international trade. The group has established institutions like the New Development Bank (NDB) and the Contingent Reserve Arrangement (CRA), promoting infrastructure financing and providing support against financial shocks. At the 2023 Johannesburg Summit, BRICS expanded to include Saudi Arabia, the United Arab Emirates, Iran, Egypt, and Ethiopia, becoming "BRICS+" and signaling a goal of creating a more balanced global economic framework....