The Brazil-Russia-India-China-South Africa (BRICS) summit in Johannesburg concluded on August 24 after a major disappointment: the long-overdue challenge to U.S. dollar hegemony was stillborn due to the bloc’s conservative forces. Yet to the credit of BRICS leaders, expansion of the network was undertaken, to include Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates (UAE). More

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