BRICS putting new members on hold.

 NEW CANDIDATES CAN STILL ENGAGE IN PARTNERSHIP

59 NEW PROSPECTS AND COUNTING

The BRICS group, comprising, Brazil, Russia, India, China, South Africa, Saudi Arabia, UAE, Egypt, Ethiopia and Iran, have announced that there will be a temporary hold on new members. It seems that while in the complicated process of enacting a global payments transfer system and possibly a BRICS currency, it would be chaotic to incorporate new members.

At present there are 59 countries expressing interest in joining, including Turkey, Malaysia and Thailand. Those countries will have the opportunity to become working  partners in the group. It is expected that incorporating and perfecting the infrastructure will take some time to bring it on line.

BRICS now encompesses half the worlds population and 35% of the world's GDP. With the prospective new members it will be the majority of the worlds population and wealth. So far the one standard is that no members can engage in economic sanctions as a condition of membership.

BRICS is becoming an alternative to the western economic system that has evolved into a system of control by economic means and promises to focus on coexistence and economic prosperity for all members.