Ethiopia has put forward its bid to join the BRICS bloc of emerging markets, the implications for the Horn of Africa nation and the rest of the world are far-reaching. BRICS countries account for more than 40 percent of the world’s population and about 26 percent of the global economy, and the group is seen as a powerful emerging-market alternative to the West. Ethiopia’s request has been met with optimism, and the nation is continuing to work with international institutions that can protect its interests. However, the country does rank only 59th in the world according to the International Monetary Fund and is less than half the size of the smallest BRICS member South Africa. BRICS stands for Brazil, Russia, India, China, and South Africa.

The term was coined by Goldman Sachs economist Jim O’Neill in 2001 to describe the rise of the four nations, and South Africa joined in 2010, making it BRICS. The group has previously said that other countries have applied to join, and Argentina, the world’s 23rd largest economy, said it had received China’s formal support to join the bloc last year. The potential impact of Ethiopia joining BRICS is multi-faceted and far-reaching. For Ethiopia, the nation stands to benefit from the increased economic and political clout that membership to the bloc would bring. The BRICS nations have a combined population of over four billion people and a combined GDP of $26 trillion, and the addition of Ethiopia could bring more resources and investment to the country. For the other BRICS nations, the addition of Ethiopia could be beneficial in terms of strengthening the bloc’s political and economic power.

Ethiopia represents a large population and a rapidly-growing economy, and its inclusion would bring more economic and political clout to the bloc. On a global level, the addition of Ethiopia to BRICS could have a significant impact on the world economy. The inclusion of Ethiopia would bring a new set of resources to the bloc and could encourage further investment in the region. This could have a positive impact on the global economy, as the BRICS countries are seen as a powerful alternative to the West. The potential impact of Ethiopia joining BRICS is considerable and far-reaching. It could bring new economic and political clout to Ethiopia, strengthen the bloc, and have a positive impact on the global economy. As the BRICS nations continue to explore new possibilities for growth and development, the inclusion of Ethiopia could be a significant step forward.