BRICS countries agree to expand membership | Forexlive

BRICS leaders (sans Putin) met this week in South Africa and expanding the group has been on the agenda for awhile so this isn’t a surprise. The aim — at least for China — is creating a something to counter the G7.

Saudi Arabia is high on the list of countries that would like to join.

Whenever I hear the term BRICS being used I cringe. Naming your group after a Goldman Sachs note doesn’t sound like a serious move.