Browsing: global power

The current large-scale transition of the global economy, principally triggered by the current conflict between Ukraine and Russia as well as the standoff between China and the United States, creates a multipolar world map with new centres of power.

Brazil, Russia, India, China, and South Africa, also known as the BRICS nations, have enhanced industrial and financial might and are pushing for a seat at the global new power axis table. These nations are essential participants in international markets for products, services, and money, having a considerable, sometimes decisive, effect on how the global economy operates.…