Why countries are trying to join BRICS?
During BRICS summit 2024 held in Kazan-Russia, world are witnesses 38 countries attend the summit. Why countries are trying to join BRICS? The main reason is sanction. Currently 33 countries are sanction by US. What makes it worst is that any country not sanction by US can not do business with those 33 countries sanction by US. Why they want to listen to US? It is not good for them to close their economy to those 33 countries sanction by US just because US do not want to do business with them. In the future when US add more countries to their sanction meaning that they need to close their economy to the new sanction's country?
Another reason for them to join BRICS is because of US dollar. World's can not do business among other country without dollar inside SWIFT system. The dependency to dollar and to SWIFT system make them losing their economy portion in those 33 countries. Even they themselves are possible to be sanction by US in the future. By joining BRICS they can use their local currencies which later will be appreciated in value instead of using dollar which makes their local currency depreciated even more. BRICS has BRICS Pay system which allow them to make cross border transaction without using US dollar and they also can using Barter System which have been practices many times recently.
BRICS's policy which do not mandatory for any countries who is want to join BRICS as partner or even as a member to do trade to any countries makes many businesses support their countries to join BRICS. By putting politic a side and do business to who ever they want makes BRICS more appreciated than western countries. At the end, we are the people get the best products and services at the best price offer by these open economy environment practices by BRICS.
BRICS has so many resources and population which also can be benefit to other countries. How can other countries want to have those rich resources and cheap work force and consumer in those population if western can not offer to them as good as BRICS countries can offer to them. Each country to decide what is best for them. Not forcing them to losing economy portion in those sanction countries by US.
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