BRICS: its aims and how it challenges G7 influence - Down to Business English

<div> The BRICS nations — Brazil, Russia, India, China, and South Africa— are taking steps to challenge the influence of the G7 by promoting economic cooperation, reducing reliance on the US dollar, and creating opportunities for the Global South. Skip Montreux and Dez Morgan explore the origins and evolution of BRICS, from its beginnings as a term coined by a Goldman Sachs economist to its expansion as a formal organization. They discuss the group's goals, including fostering economic collaboration among member nations, reducing dependence on Western-dominated systems like SWIFT, and advocating for a multipolar world order. Skip and Dez talk about how BRICS’ growing membership positions it as a potential counterweight to the G7. Their conversation is a great learning resource if you want to build your English listening comprehension skills and expand your business vocabulary. Key points of their discussion include: <ol> <li>BRICS: Initially a term coined in 2...