What if, in a few years’ time, the “new world order” was no longer the United States, the America Way of life, Europe, and a few Nordic countries deciding for the world on financial standards, international trade procedures, and even countries no longer having the right to speak to or trade with others? The world order to which we Europeans are accustomed is about to be turned upside down, and forever. The BRICS+, also known as the BRICS, are a group of nine countries that meet at annual summits: Brazil, Russia, India, China, South Africa, Egypt, the United Arab Emirates, Ethiopia and Iran.
The group was initially formed in 2009 under the name “BRIC”, an acronym for Brazil, Russia, India and China. In 2011, South Africa joined the group, giving rise to the acronym “BRICS”. In 2024, Egypt, the United Arab Emirates, Ethiopia and Iran joined the group, giving rise to the new acronym “BRICS+”.
What are brics?
The BRICS or BRICS+ are a group of nine countries:
- Brazil
- Russia
- India
- China
- South Africa
- Egypt
- United Arab Emirates
- Ethiopia
- Iran
The name ” BRIC ” was first used in 2001 by a Goldman Sachs economist to refer to Brazil, Russia, India and China. South Africa joined the group in 2011, forming the BRICS. Egypt, Ethiopia, Iran and the United Arab Emirates joined the group in 2024. Argentina and Saudi Arabia were also invited to join the group in 2024, but Argentina declined and Saudi Arabia has yet to confirm its acceptance.
The Brics represent a formidable counterweight to the all-powerful American dollar. Because today, to trade on international markets, you have to do so in dollars. But this could soon change, and this new grouping of non-aligned countries could be the driving force behind it.
What’s North Korea got to do with the Brics?
North Korea, often perceived as an isolated state on the international stage, sees the BRICS as an opportunity to strengthen its economic alliances and circumvent the international sanctions it faces.
Membership of the BRICS group would give it access to alternative payment systems, notably those being developed around central bank digital currencies. It would also free it from dependence on the SWIFT network, which is controlled by the Western powers and to which it has access restrictions.
What’s more, this move is in line with Pyongyang’s desire to gain greater autonomy and respectability on the international stage.
North Korea is seeking a survival strategy in an evolving multipolar world, and sees the BRICS as a platform for strengthening its legitimacy and breaking its isolation.
Integration still unclear?
However, North Korea’s integration into the BRICS remains hypothetical. None of the documents provided indicate that North Korea has officially requested to join the group, only that it has expressed an interest.
Even so, we think it would probably be better for the country if its request to join the group of countries were as discreet as possible.
Moreover, North Korea’s accession would pose significant challenges, as the country would have to comply with international standards and meet financial transparency requirements.
The BRICS, made up of South Africa, Brazil, China, India and Russia, are increasingly positioning themselves as a counterweight to Western hegemony, particularly in monetary terms.
The group recently welcomed Saudi Arabia, Iran, Egypt, the United Arab Emirates and Ethiopia as new members. The aim of the BRICS is to extend its influence and act as a counterweight to the United States and Europe.
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