The XV BRICS summit ended in Johannesburg while starts new phase of its history, that of its expansion to other countries inviting Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE to join as full-fledged members beginning next year. The New Development Bank (popularly known as the BRICS Bank) has already been joined by new members such as Bangladesh, Egypt, the UAE, and Uruguay. But BRICS expansion will confront numerous challenges to be overcoming as the admission of new countries as full-fledged members will drastically change the group’s dynamics owing to their very different economies and domestic situations and their different ideological patterns. Here one can formulate two hypothesis:(1) dealing with the question of alternative currencies to dollar could be a appropriate solution for the developing countries to free themselves from the Bretton woods intuitions set up in the wake of the WWII used as US tool to impose its worldwide hegemony and this way, the BRICS can play key role in the current move for a multipolar world;(2) however, alternative currencies is one solution to meet the main challenge, the survival of the BRICS in the long term, this is a different story. The BRICKS can be compared with the European Union founded in 1951, starting with the European Coal and Steel Community which was its first step In 1957, the Treaty of Rome established the European Economic Community (EEC) and opened a new era of ever closer cooperation in Europe whose history began with a common market between six European countries and ended with common currency in 2000 the Euro and political union established by Lisbon Treaty in 2007 albeit its rejection by the French people in 2005 by 55% of the vote, by the Dutch and the Irish, grouping 28 members, till 2020 now 27 after the withdrawal of the UK following the BREXIT referendum in June 2016 and definitive separation on January 31, 2020 read more on @elmir1975
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BRICS AT A CROSSROAD
