BRICS (the acronym stands for Brazil, Russia, India, China, and South Africa, and was originally a term coined by a Goldman Sachs economist to describe emerging-market business opportunities) is also transforming itself into an alternative international institution, with regular meetings and new members. In January 2024, Iran, Saudi Arabia, Egypt, the U.A.E., and Ethiopia were welcomed into the group, the better to give it the flavor of a new, Moscow- and Beijing-oriented world order.
