Argentina Formally Rejects BRICS Membership: Reasons, and Consequences

Argentina Formally Rejects BRICS Membership: Reasons, and Consequences 1 Jan 2024

Argentina Formally Rejects BRICS Membership: Reasons, and Consequences

Context: This editorial is based on the news “Why Argentina decided against joining BRICS which was published in the Live Mint. Recently, Argentina rejected the invitation to join the BRICS (comprising Brazil, Russia, India, China and South Africa).

Relevancy for Prelims: BRICS, and BRICS Summit 2023

Relevancy for Mains: Withdrawal Of Argentina From BRICS Bloc- its impact and challenges for BRICS.

Argentina Invited to Joint BRICS Membership

  • In August 2023: The BRICS grouping, during its summit in South Africa in August, invited six countries including Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the UAE to join the bloc, which has been looking to grow its influence.
  • Controversial over Expansion as an anti-Western bloc: At the time of the BRICS summit in August, many speculated that China and Russia were pushing for an expansion of BRICS to turn it into an anti- Western bloc. 
  • India’s Reaction: India publicly welcomed the expansion of BRICS. However, insisted on laying down concrete rules and procedures to regulate the entry of new members into the grouping.

Why did Argentina Reject BRICS Membership? – Reasons

  • Need to Review: As per the new Argentina’s President, the decision to join BRICS had been taken by the previous administration and the new dispensation was reviewing such policies.
  • Geopolitical Alignment: Argentina’s new President is considered to be a radical and right-wing populist. He is critical of China and BRICS as well. He argued that their geopolitical alignment is with the United States and Israel and not with communists.

Argentina Reject BRICS Membership: Consequences

  • Question on Potential: This withdrawal may be unwelcome for BRICS. It was initially conceptualized as a grouping of five major developing economies that would grow rapidly and dominate global growth by 2050. 
    • Russia, Brazil and South Africa have struggled economically, while India and China have performed steadily.
  • Impact on Relevance: With conflicts of India and China, the prospects of closer cooperation among the member nations seem bleak. Argentina’s rejection will only add questions on BRICS relevance.

About BRICS

  • The term BRIC was first introduced in 2001.
  • The British Economist Jim O’Neill coined the term BRIC to describe the four emerging economies of Brazil, Russia, India, and China. However, the grouping was formalized in 2006.
  • BRIC transformed into BRICS with the entry of South Africa in December 2010.
  • Its chairmanship is rotated annually among the members, in accordance with the acronym B-R-I-C-S.

 

Mains Question: Explicate the relevance of BRICS for India? Enumerate some of the key initiatives undertaken within the BRICS framework, and highlight the contesting factors that India faces in its engagement with BRICS. (15 marks, 250 words)

 

Archive Calendar

Mon Tue Wed Thu Fri Sat Sun
 123
45678910
11121314151617
18192021222324
25262728293031

Need help preparing for UPSC or State PSCs?

Connect with our experts to get free counselling & start preparing

Know about Physics Wallah

Physics Wallah is an Indian online education platform, that provides accessible & comprehensive learning experiences to students of classes 6 to 12 and those preparing for JEE and NEET exams. We also provide extensive NCERT solutions, sample papers, NEET, JEE Mains, BITSAT previous year papers, which makes us a one-stop solution for all resources. Physics Wallah also caters to over 3.5 million registered students and over 78 lakh+ Youtube subscribers with 4.8 rating on its app.

We Stand Out because

We successfully provide students with intensive courses by India's qualified & experienced faculties. PW strives to make the learning experience comprehensive and accessible for students of all sections of society. We believe in empowering every single student who couldn't dream of a good career in engineering and medical field earlier.

Our Key Focus Areas

Physics Wallah’s main focus is to create accessible learning experiences for students all over India. With courses like Lakshya, Udaan, Arjuna & many others, we have been able to provide a ready solution for lakhs of aspirants. From providing Chemistry, Maths, Physics formulae to giving e-books of eminent authors, PW aims to provide reliable solutions for student prep.

What Makes Us Different

Physics Wallah strives to develop a comprehensive pedagogical structure for students, where they get a state-of-the-art learning experience with study material and resources. Apart from catering students preparing for JEE Mains and NEET, PW also provides study material for each state board like Uttar Pradesh, Bihar, and others.

Aiming for UPSC?

Download Our App

# #
Quick Revise Now !
AVAILABLE FOR DOWNLOAD SOON
UDAAN PRELIMS WALLAH
Comprehensive coverage with a concise format
Integration of PYQ within the booklet
Designed as per recent trends of Prelims questions
हिंदी में भी उपलब्ध
Quick Revise Now !
UDAAN PRELIMS WALLAH
Comprehensive coverage with a concise format
Integration of PYQ within the booklet
Designed as per recent trends of Prelims questions
हिंदी में भी उपलब्ध

<div class="new-fform">






    </div>

    Subscribe our Newsletter
    Sign up now for our exclusive newsletter and be the first to know about our latest Initiatives, Quality Content, and much more.
    *Promise! We won't spam you.
    Yes! I want to Subscribe.