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BRICS expanding into economic powerhouse: Petrodollar under threat

 
In its South Africa summit, BRICS invited six new members: Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE. The bloc now represents 37% of global GDP (PPP), 40% of global oil production, and roughly 1/3rd of global gas production, challenging the US petrodollar system. Ben Norton analyzes the importance of the meeting.

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