{"id":7002,"date":"2025-01-11T17:27:59","date_gmt":"2025-01-11T11:57:59","guid":{"rendered":"https:\/\/www.class24.study\/exams\/?p=7002"},"modified":"2026-02-24T12:52:00","modified_gmt":"2026-02-24T07:22:00","slug":"new-member-of-the-grouping-indonesia-as-the-11th-country-8084","status":"publish","type":"post","link":"https:\/\/www.class24.study\/current-affairs\/new-member-of-the-grouping-indonesia-as-the-11th-country-8084\/","title":{"rendered":"New Member of the Grouping Indonesia As the 11th Country"},"content":{"rendered":"<p dir=\"ltr\"><span style=\"color:#000000\">This is a big addition to the BRICS, as it expands the group&rsquo;s reach among the emerging powers. Today BRICS accounts for 35% of the world economy and holds 46% of the global population, and therefore has significant potential in terms of trade and investments. The company opposes the hegemonic systems in the International Monetary System and calls for a shift to the post-American order and a decrease the reliance on the US dollar. It also seeks change within international organizations such as the IMF and the UN including the criterion of, getting better representation from developing nations.<\/span><\/p>\n<h3 dir=\"ltr\"><span style=\"color:#000000\">About BRICS<\/span><\/h3>\n<ul>\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span style=\"color:#000000\">BRICS is a leading intergovernmental organization of five large developing and rapidly growing economies.<\/span><\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span style=\"color:#000000\">Formation: The BRIC association was formed in 2001 During the same year the organization had its first inaugural meeting in Russia in 2009.<\/span><\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span style=\"color:#000000\">Founding Members: The four founding members of BRIC are Brazil, Russia, India, and China(2009).<\/span><\/p>\n<\/li>\n<\/ul>\n<ul>\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span style=\"color:#000000\">Brazil &#8211; 2009<\/span><\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span style=\"color:#000000\">Russia- 2009<\/span><\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span style=\"color:#000000\">India- 2009<\/span><\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span style=\"color:#000000\">China-2009<\/span><\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span style=\"color:#000000\">South Africa-2010<\/span><\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span style=\"color:#000000\">Iran- 2024<\/span><\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span style=\"color:#000000\">UAE- 2024<\/span><\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span style=\"color:#000000\">Egypt- 2024<\/span><\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span style=\"color:#000000\">Ethiopia- 2024<\/span><\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span style=\"color:#000000\">Saudi Arabia- 2024<\/span><\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span style=\"color:#000000\">Argentina- 2024<\/span><\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span style=\"color:#000000\">Indonesia-2025<\/span><\/p>\n<\/li>\n<\/ul>\n<h3 dir=\"ltr\"><span style=\"color:#000000\">Economic Influence<\/span><\/h3>\n<ul>\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span style=\"color:#000000\">Together the five countries of BRICs have a total GDP of around one-third of the total international GDP.<\/span><\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span style=\"color:#000000\">Cover 46% of the world and represent an immense market and human resource base.<\/span><\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span style=\"color:#000000\">The bloc holds a crucial position in boosting trade and investment among the various emerging economies.<\/span><\/p>\n<\/li>\n<\/ul>\n<h3 dir=\"ltr\"><span style=\"color:#000000\">A counterbalance to Western Dominance<\/span><\/h3>\n<ul>\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span style=\"color:#000000\">BRICS provides an avenue for new economic powers to compete with G7 and other Western-dominated financial systems.<\/span><\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span style=\"color:#000000\">Here the group&rsquo;s stance is for a multipolar world whereby they aim at diversifying from the American and European dominance most particularly in the areas of trade and finance.<\/span><\/p>\n<\/li>\n<\/ul>\n<h3 dir=\"ltr\"><span style=\"color:#000000\">Focus on Local Currencies and Non-Dollar Transactions<\/span><\/h3>\n<ul>\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span style=\"color:#000000\">BRICS has one of its aims to bring down the influence of the US dollar in its Cross-border transactions.<\/span><\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span style=\"color:#000000\">The objective is to encourage the use of physical currencies in local areas and develop a less degenerate financial environment that fully relies on dollars.<\/span><\/p>\n<\/li>\n<\/ul>\n<h3 dir=\"ltr\"><span style=\"color:#000000\">Advocacy for Global Institutional Reforms<\/span><\/h3>\n<ul>\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span style=\"color:#000000\">BRICS is demanding more voice and vote reform in international organizations like the IMF and UN where the landscapes of international governance are shaped and where emerging economies like BRICS seek seats at the high table of decision-making.<\/span><\/p>\n<\/li>\n<\/ul>\n<h3 dir=\"ltr\"><span style=\"color:#000000\">Collaboration Among Emerging Economies<\/span><\/h3>\n<ul>\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span style=\"color:#000000\">Shows cooperation in technology, sustainable development, and others through BRICS.<\/span><\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span style=\"color:#000000\">The group fosters mutually beneficial knowledge of each other to address common issues which include global warming, disease outbreaks, and other adverse issues.<\/span><\/p>\n<\/li>\n<\/ul>\n<h3 dir=\"ltr\"><span style=\"color:#000000\">Energy and Resource Security<\/span><\/h3>\n<ul>\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span style=\"color:#000000\">BRICS has many of its members as significant producers and consumers of energy, for instance, Russia, Brazil, and China, thus making it a strategic cooperation for energy security and development.<\/span><\/p>\n<\/li>\n<\/ul>\n<h3 dir=\"ltr\"><span style=\"color:#000000\">Support for Multilateralism<\/span><\/h3>\n<ul>\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span style=\"color:#000000\">BRICS supports the concept of collective management through multilateral systems since it opposes the provision of individuals for every global issue.<\/span><\/p>\n<\/li>\n<\/ul>\n<h3 dir=\"ltr\"><span style=\"color:#000000\">Challenges Faced by BRICS<\/span><\/h3>\n<ul>\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span style=\"color:#000000\">Diverse Economic Interests:<\/span><\/p>\n<ul>\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span style=\"color:#000000\">Currently, as it was mentioned before, BRICS is the union of countries with tremendously dissimilar economies &ndash; from the developed ones as China and India to the countries with oil-generating economies as Brazil and Russia.<\/span><\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span style=\"color:#000000\">These differences inevitably entail divergence of interest, particularly on matters to do with trade relations, economic liberalization, and foreign investments hence, making d [it] difficult to agree on some of the policies.<\/span><\/p>\n<\/li>\n<\/ul>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span style=\"color:#000000\">Political Differences<\/span><\/p>\n<ul>\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span style=\"color:#000000\">However, BRICS nations have certain levels of common objectives in place however politically they differ from one another.<\/span><\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span style=\"color:#000000\">For instance, Sino-Indian, border disputes and the Russian struggle for a place with the West can affect the groups consensus in addressing certain aspects on the international relations platform.<\/span><\/p>\n<\/li>\n<\/ul>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span style=\"color:#000000\">Geopolitical Rivalries<\/span><\/p>\n<ul>\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span style=\"color:#000000\">The conflict of interest in geopolitical nature equally impacts BRICS cohesion negatively where China and India have been in conflict and so have Russia with Western countries.<\/span><\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span style=\"color:#000000\">Further, relations with other countries that compose other alliances such as India with the US or an isolated Russia may make up some of the BRICS coalition creating differences in their total strength.<\/span><\/p>\n<\/li>\n<\/ul>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span style=\"color:#000000\">Economic Dependence on Global Markets:<\/span><\/p>\n<ul>\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span style=\"color:#000000\">While BRICS members strive for the block to become quite autonomous financially, most countries of this block are tied to World trade networks that are still dominated by the West.<\/span><\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span style=\"color:#000000\">This restrains the full liberation of BRICS and how they create their financial systems or shift from dollarization in the global economy.<\/span><\/p>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3 dir=\"ltr\"><span style=\"color:#000000\">Conclusion&nbsp;<\/span><\/h3>\n<p dir=\"ltr\"><span style=\"color:#000000\">Membership in BRICS makes Indonesia one of the new working group members and strengthens the position of the conglomerate as a counterpoint to the dominance of the West in the regulation of the world economy. However, politically different paradigms, economically conflicting interests, and allied affiliations depict a picture of a continuously challenging nature that may hinder the group from behaving as a consolidated force.&nbsp;<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This is a big addition to the BRICS, as it expands the group&rsquo;s reach among the emerging powers. Today BRICS accounts for 35% of the world economy and holds 46% of the global population, and therefore has significant potential in terms of trade and investments. The company opposes the hegemonic systems in the International Monetary [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7003,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[16],"tags":[],"class_list":["post-7002","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.class24.study\/current-affairs\/wp-json\/wp\/v2\/posts\/7002","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.class24.study\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.class24.study\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.class24.study\/current-affairs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.class24.study\/current-affairs\/wp-json\/wp\/v2\/comments?post=7002"}],"version-history":[{"count":1,"href":"https:\/\/www.class24.study\/current-affairs\/wp-json\/wp\/v2\/posts\/7002\/revisions"}],"predecessor-version":[{"id":7043,"href":"https:\/\/www.class24.study\/current-affairs\/wp-json\/wp\/v2\/posts\/7002\/revisions\/7043"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.class24.study\/current-affairs\/wp-json\/wp\/v2\/media\/7003"}],"wp:attachment":[{"href":"https:\/\/www.class24.study\/current-affairs\/wp-json\/wp\/v2\/media?parent=7002"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.class24.study\/current-affairs\/wp-json\/wp\/v2\/categories?post=7002"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.class24.study\/current-affairs\/wp-json\/wp\/v2\/tags?post=7002"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}