Established in 2009, Brazil, Russia, India, and China formed a group where they’d collaborate on an international scale. The S addition was when South Africa joined in 2011. A growing membership includes Iran, Egypt, Ethiopia, the UAE, and Indonesia. This group gathered enough attention to provoke a threat from Trump, promising 100% tariffs against nations that partook in the organization.
Many Western and American outlets insist that the organization is dead and impotent. Still, it was enough for Trump to threaten tariffs when they floated the idea of developing their currency in competition with the US Dollar. Other projects include the New Development Bank, an economic group that invests in projects.
Think of it as having the same purpose as the IMF, the difference being that no member would receive vetoing powers and that no vote would outweigh the other. The bank can not move forward without receiving a majority vote. And for being an inept and symbolic project, the bank has $100 billion divided into 1 million shares. This money is to be used for development projects, renewable energy, and environmental protection. Recently they invested over $1 billion dollars into rebuilding communities affected by the 2025 Rio Grande do Sul floods.
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