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In 2016, the BRICS block accounted for 41% of the world's population and just under 30% of the territory. The five countries control 23% of global GDP, about US $ 40.6 trillion (£ 30.9 trillion), and 18% of trade. The group is growing impressively if you consider it as a single entity, with an average of 3.8% in 2015, 4.2% in 2016 and 5.1% in 2017 – although China and India grow much faster than others. Xi Jinping in 2017 referred to the "golden decade" of countries, although it depends on who you are talking to.
Commercial Insults
The summit comes at a time when the West is undoubtedly in decline. We see the United States threatening trade wars with most other countries, especially China, but also with allies like the EU. The threat to world trade will be at the top of the agenda of the BRICS summit – which is hardly surprising when China's economic weight gives it such an important role within the bloc. The Russian Minister of Economy, Maxim Oreshkin, said recently: The summit concerns the context … We are at a time when the United States and China announce new measures almost every week.
consolidate the commercial relations of members through reduced rates. This could boost trade between countries, which has stagnated or declined in recent years.
Africa and sustainable development will also receive a lot of attention this year. Despite the list of heavyweight delegates, South African leader Cyril Ramaphosa will undoubtedly do his best to steal everyone's thunder as a newbie host and president. The economy of his country has shrunk, with sectors such as mining and agriculture in the doldrums, compounded by corruption issues that symbolize the administration of his predecessor Jacob Zuma
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