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Fortune
Fortune
Lionel Lim

Countries like Malaysia and Thailand are flocking to join BRICS as a potential ‘counterweight against U.S. economic hegemony’

(Credit: Prakash Singh—Bloomberg/Getty Images)

BRICS—originally made up of just Brazil, Russia, India, China, and South Africa—is going to need a new name. 

After not adding any new members for 13 years, the non-Western international group welcomed Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates last August. The floodgates have since been opened: In February, South African Foreign Minister Naledi Pandor claimed that over 30 nations now want to join the international group.

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