2014 with $50 billion in seed money, the BRICS nations launched the New Development Bank as an alternative to the World Bank and the International Monetary Fund. Since the start of the Russian war in Ukraine, the BRICS countries have distanced themselves further from the so-called West. The countries of India, Brazil, South Africa, and China are not taking part in sanctions against Russia. US policymakers worry that the BRICS may become less an economic club of rising powers seeking to influence global growth and development and more a political one defined by their authoritarian nationalism.
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