Final week’s Brics summit concluded with an invite to Saudi Arabia, Argentina, Egypt, the United Arab Emirates, Ethiopia and Iran to affix the emerging-market bloc. If confirmed, it could result in the enlargement of the group to 11 international locations from 5, rising its protection to 46% of the world’s inhabitants and 37% of world gross home product. In response to the Economist Intelligence Unit’s Democracy Index, of these nations solely Argentina will be thought-about a democracy — albeit a flawed one. Meaning the enlargement would depart the group dominated by non-democratic international locations, with seven of them headed by hybrid or authoritarian regimes.
© 2023 Bloomberg
