As the BRICS summit kicks off July 6, all eyes are on China and Brazil as they spearhead efforts to redefine global trade rules. With U.S. tariffs squeezing manufacturing giants, these emerging economies are flipping the script 💡—turning inward to unlock massive new opportunities among themselves.
🔍 Why it matters: BRICS nations (Brazil, Russia, India, China, South Africa) represent over 40% of the world’s population. Their pivot toward boosting cross-member trade could reshape supply chains and counter Western-led economic policies. Analysts call it a 'post-Western world trade playbook' in the making.
📊 By the numbers: Trade between BRICS countries grew 56% faster than global trade averages last year. China’s tech exports to Brazil surged 28% in Q1 2024 alone—think EVs, solar panels, and AI infrastructure. 🚗☀️
🎯 The big picture: 'This isn’t just about tariffs—it’s about building digital payment systems, green energy partnerships, and youth-driven innovation hubs,' says trade expert Owen Fairclough. With Gen Z entrepreneurs driving cross-border e-commerce, BRICS could become the ultimate 'vibes-based trade alliance.' ✨
