BRICS expansion seekers want to restore global balance.

An extension of the BRICS bloc is being discussed at a meeting this week, and it has drawn a diverse group of possible candidates, from Argentina to Iran, who all share the aim to level what many see as an unfair playing field in the international arena.

The list of complaints is extensive. unfair business practices. sanctions regimes that punish. perceived disregard for the needs of developing countries. international organisations like the United Nations, the International Monetary Fund, and the World Bank are dominated by the rich West.

Despite a lack of tangible outcomes, the promise of the BRICS countries—currently Brazil, Russia, India, China, and South Africa—to make the alliance a prominent advocate of the "Global South" has gained resonance amid broad unhappiness with the present global order.

According to representatives of South Africa, which is hosting the BRICS summit from August 22–24, more than 40 nations have shown interest in joining. Nearly a dozen of them have formally requested admission.

Its once-expanding economies, most notably China, are slowing. The Ukraine crisis has caused Russia, a founding member, to become isolated. Vladimir Putin, who is sought internationally for various war crimes, will not physically attend Johannesburg but rather participate digitally.

Even while BRICS hasn't released a complete list of candidates for expansion, a number of nations have openly shown their interest.

Iran and Venezuela are attempting to lessen their isolation as a result of the bloc's sanctions and are hoping that it would help their ailing economies.

Gulf nations According to commentators, Saudi Arabia and the United Arab Emirates view the BRICS as a means to a more important position within international organisations.

The bloc's dedication to UN changes that would give the continent a stronger voice attracted African hopefuls like Ethiopia and Nigeria. Others want the World Bank, International Monetary Fund, and World Trade Organisation to undergo adjustments.

China and Russia are eager to go forward with expansion but others, like Brazil, are concerned about speeding the process. BRICS leaders are set to establish a framework for admitting new members during the meeting.

Sanctions on founding member Russia have made the New Development Bank, sometimes known as the "BRICS bank," the group's greatest tangible accomplishment, much more challenging to operate.

Small nations should learn from South Africa's success if they are hopeful that joining the BRICS will help their economies.

(Sources: investing.com, reuters.com)