BRICS countries agree to expand membership

<p>BRICS leaders (sans Putin) met this week in South Africa and expanding the group has been on the agenda for awhile so this isn't a surprise. The aim — at least for China — is creating a something to counter the G7.</p><p>Saudi Arabia is high on the list of countries that would like to join.</p><p>Whenever I hear the term BRICS being used I cringe. Naming your group after a Goldman Sachs <a href="https://www.goldmansachs.com/intelligence/archive/brics-dream.html" target="_blank" rel="nofollow">note </a>doesn't sound like a serious move.</p>

This article was written by Adam Button at www.forexlive.com.