Will BRICS Obstruct Western Markets?

Trade agreement between Brazil, Russia, India, China, and South Africa [Image acquired from businessstandard.com]

Overview

Multilateral trade agreements signify the importance of globalization and economic interdependence in our rapidly-changing world. From the WTO (World Trade Organization) to NAFTA (North American Free Trade Agreement) to B.R.I.C.S, global superpowers are realizing and acting on the importance of free trade, and they are expanding their economies much faster because of this.

 B.R.I.C.S is an acronym for Brazil, Russia, India, China, and South Africa; it is a free trade agreement that aims to increase cooperations between member nations to achieve greater development, provide extensive financial assistance, and support various infrastructure and border defense projects.

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