BRICS could expand to fight ‘Western dominance’ | DW News

The BRICS summit has kicked off in Johannesburg. The meeting of Brazil, Russia, India, China and South Africa will consider whether to allow new members to grow its economic and geopolitical influence.

Beyond the enlargement question, boosting the use of member states' local currencies is also on the summit agenda. South African organizers, however, say there will be no discussions of a BRICS currency, an idea floated by Brazil earlier this year as an alternative to dollar-dependence.

DW spoke to Jim O'Neill, who coined the acronym BRIC in 2001 while working as an economist at Goldman Sachs.

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