BY: ALASTAIR NEWTON
BRICS Without Straw: What Does China Offer to New Members?
Reviving a 2-decade-old headline: BRICs coined by Jim O'Neill lacked substance, despite marketing mastery.
BRICS, stagnant until Russia's Ukraine invasion, now attracts China to strengthen ties with middle powers.
China offers autocrats a secure alternative world order, BRICS adds Egypt, UAE, and Saudi Arabia in 2024.
Egypt faces a dilemma, balancing US aid with economic woes, BRICS membership offers economic stability.
UAE seeks BRICS for political reasons, declining US interest prompts desire for independent alliances.
Saudi Arabia seeks BRICS due to uncertain US security guarantees and regional diplomacy with Iran.
Saudi Arabia hesitates on BRICS membership, potentially leveraging it for concessions in talks with Washington.
Saudi Arabia hesitates on aiding Biden's goals, it's a low-risk move with doubts about grand bargains.
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