Venezuelan President Nicolás Maduro during the Con Maduro+ program. Photo: Con Maduro+.
During his program Con Maduro+, Venezuelan President Nicolás Maduro announced that Venezuela formally requested to join BRICS, the economic and geopolitical bloc formed by Brazil, Russia, India, China, and South Africa.
President Maduro hopes that the request will be positively valued by the countries that make up the group so that “Venezuela enters the dynamics of BRICS to learn, support, and help,” according to his statements during the show broadcast Monday, July 31.
After nearly 40 years of domination by the G7, which from its inception was projected as a body that would dominate the political, economic, and military spheres in the world under neocolonial principles, the rising powers created BRICS, whose rapid economic growth is seen as a counterweight to the Western group. In fact, the collective GDP of BRICS currently exceeds that of the G7.
The Visual Capitalist table below shows how the BRICS countries have been displacing the G7 in world’s GDP share, adjusted for purchasing power parity (PPP).
Venezuela would have much to contribute to the emerging group as it possesses enormous energy reserves as well as an infinity of raw materials necessary for states such as China and India to follow their path to become the most industrialized nations in the world. At the same time, Venezuela seeks to become involved in an international dynamic free of coercive economic measures—euphemistically referred to as “sanctions”—and restrictions of all kinds in order to achieve its own development goals.
Translation: Orinoco Tribune
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