14 Nations Eye Membership in BRICS Crypto Alliance

• BRICS 2023 Summit: A Turning Point for Global Alliances
• Controversial Decisions and Regime Changes
• Potential Expansion: 14 New Applicants
• Second Wave of Expansion: the New Contenders
• Future of the BRICS Bloc: Expansion or Stagnation?

BRICS 2023 Summit: A Turning Point for Global Alliances

In the wake of the BRICS 2023 summit's six-nation expansion drive, a reported total of 14 additional countries have expressed interest in joining the alliance. The new group of interested nations appears to be taking inspiration from the incoming members, set to officially join the alliance in 2024. While discussions of potential expansion were prevalent throughout the year, only six nations received the necessary approval for inclusion.

Controversial Decisions and Regime Changes

Interestingly, despite receiving an invitation, Argentina opted out following a change in the country's political leadership. Throughout 2023, the geopolitical sector was extensively engaged in discourse surrounding the BRICS economic alliance. The alliance's initiatives for de-dollarization found a receptive global trade sector, and agreements were made to allow five more countries to join the bloc in 2024.

Potential Expansion: 14 New Applicants

Moving forward, this trend of expansion could possibly continue into the following year. It has been observed that 14 new countries have expressed a desire to join the BRICS bloc in the upcoming year. These countries are Algeria, Bahrain, Bangladesh, Belarus, Bolivia, Cuba, Honduras, Kazakhstan, Kuwait, Palestine, Senegal, Thailand, Venezuela, and Vietnam.

Second Wave of Expansion: the New Contenders

These nations aspire to be the second wave of expanding members that the alliance will accept. If successful, they would be joining the ranks of Saudi Arabia, the United Arab Emirates (UAE), Iran, Egypt, and Ethiopia, all of whom have already been accepted into the alliance. It's worth noting that Argentina, despite being featured in the 2023 summit, declined the invitation to join.

Future of the BRICS Bloc: Expansion or Stagnation?

So far, the bloc has demonstrated an openness towards continued expansion agreements. However, it remains unclear whether such expansion invitations will be a consistent annual occurrence. As a result, there is considerable anticipation surrounding the 2024 summit and the potential implications for the ongoing development of a multipolar world.

Edited by Jonathan Stoker