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Venezuela and BRICS: A Viable Match?
By E.C.V. & Asociados
Venezuela's recent bid to join the BRICS group (Brazil, Russia, India, China, and South Africa) has stirred the pot of global economic alliances.
Joining BRICS could offer Venezuela access to trade and investment opportunities, potentially boosting its economy.
But while Venezuela's potential resources and alignment with some BRICS goals are attractive, its economic instability and political baggage present significant hurdles.
Ultimately, the decision lies with the existing BRICS members. And it wont' be easy. According to Bloomberg, the relationship between China can promote Venezuela’s entry into the bloc. And although an expansion of the BRICS bloc is currently under consideration from its members, it has attracted a big crew of potential candidates -not only Venezuela- and therefore the final call may take much more time than anticipated.
One of the limitations are the divisions among the current four leaders over how much and how quickly the expansion must take place.
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