Algeria has applied to join the BRICS group and submitted a request to become a shareholder member of BRICS Bank with an amount of $1.5 billion, Ennahar TV quoted Algerian President Abdelmadjid Tebboune as saying.

TUNIS, July 21 (Reuters) - Algeria has applied to join the BRICS group and submitted a request to become a shareholder member of BRICS Bank with an amount of $1.5 billion, Ennahar TV quoted Algerian President Abdelmadjid Tebboune as saying.

It added that Tebboune said at the end of his visit to China that Algeria had sought to join the BRICS to open new economic opportunities.

The North Africa country is rich in oil and gas resources and seeking to diversify its economy and strengthen its partnership with countries such as China.

The BRICS group of nations comprises Brazil, Russia, India, China, and South Africa. It account for more than 40% of the world’s population and about 26% of the global economy.

  • HomebrewHedonist@lemmy.caEnglish
    3·
    1 year ago

    I have good reason to believe that the US government has abused their economic homogeny and taken on way too much debt to the point where other countries are doubtful that they will ever be able to honour that debt. These sovereign nations see the writing on the wall and China smells blood. I believe that the US dollar will collapse altogether and everyone else dollar along with it. At this point, China will come in and offer an alternative that is tied to gold, just like the days of old. Then China will take over this homogeny.

    I really hope the western elites have a plan otherwise this is going to be some changing times.