Lula: BRICS Is Stronger Than G7

“The world will never be the same again.” Luis Inacio Lula da Silva, who has just arrived from the South African BRICS summit, has returned to charting the next steps for the group uniting the economies of the “global south.”

The summit held in Johannesburg from August 22 to 24 opened the way for the entry of six more countries that will be able to join BRICS starting next year. These countries are: Argentina, Iran, Egypt, Ethiopia, Saudi Arabia, and the United Arab Emirates, which will be added to Brazil, Russia, China, India, and South Africa.

The unification is strengthening and, as Lula said in a traditional live broadcast on social networks, the new formation is “stronger than the G7.” The President of Brazil stated that “the group will become more powerful, stronger, and more important. I don’t think the world will ever be the same again.” BRICS actually accounts for 32% of global GDP, while the G7 countries account for only 29%.

One of the hot topics is a new currency that could facilitate trade between countries without using the dollar. This way Lula hinted, albeit indirectly, at what the BRICS currency could look like, explaining that this is not necessarily an “anti-dollar” move. To do this, he took as an example the euro that was created by the countries of the European Union.

“We are building a new framework for geopolitical negotiations with BRICS,” Lula’s X-Twitter account says. “Providing a base currency for export is important. This is not directed against the dollar, but will help the development of our countries.”