Interest in BRICS membership is on the rise, with seven countries applying to join just one week after the recent foreign ministers' meeting.
Delsey Rodriguez, Venezuela’s vice president, announced at an economic seminar in Caracas that the South American nation is another new candidate.
This follows the bloc’s move at its annual summit in 2023, when it invited and approved the accession of Iran, Ethiopia, Egypt and the UAE.
Along with Venezuela, Thailand, Malaysia, Zimbabwe, Colombia, Vietnam and Pakistan have also applied for membership. Rodríguez emphasized Venezuela’s readiness to accept the changing world order.
Pakistan, through Senator Mushahid Hussain Syed, expressed its interest in joining BRICS for the first time, stressing increasing efforts of Russia and China in Southeast Asia to strengthen BRICS influence.
With Thailand and Malaysia, which are preparing for membership, BRICS is poised for a potential second expansion at its annual summit in October 2024, underscoring the alliance’s growing geopolitical importance.
The Bank of Japan (BOJ)’s upcoming monetary policy meeting, set for June 16–17, could be the next major catalyst for global risk assets, including stocks and cryptocurrencies like Bitcoin.
Mark Skousen, the economist who foresaw the 1987 market collapse, believes the current financial environment is entering a precarious phase.
Across Asia, the U.S. dollar is rapidly losing ground as countries intensify efforts to reduce reliance on the greenback.
Despite encouraging job numbers on the surface, JPMorgan Chase’s chief global strategist David Kelly says the U.S. economy is quietly losing momentum.