Argentina Scraps Plan to Join BRICS

    Argentina Scraps Plan to Join BRICS
    Photo: Flickr via Wikimedia Commons

    The Facts

    • On Friday, a letter signed by newly elected Argentine Pres. Javier Milei revealed that the country wouldn't be joining the BRICS economic bloc of developing economics as planned. Argentina's entrance was set to take effect on Jan. 1.

    • The bloc — which consists of Brazil, Russia, India, China, and South Africa — announced in August that Argentina, Ethiopia, Iran, Saudi Arabia, Egypt, and the United Arab Emirates were to become members in 2024.


    The Spin

    Pro-establishment narrative

    It bodes well for Argentina that their new leader has firmly rejected being put under the yoke of China and other anti-Western regimes by joining BRICS. Steering away from the siren song of Chinese investment, Milei has staked Argentina's position as one that stands with the free countries of the world, even at the expense of geopolitical clout.

    Establishment-critical narrative

    Milei, with his unorthodox political views, has taken Argentina backward by spurning the BRICS alliance. As the country grapples with an economic crisis, it is perplexing that Milei has turned away from some of his largest trading partners and most important emerging markets. This short-sighted move will hurt Argentina in the long run.

    Nerd narrative

    There's a 60% chance a member nation will leave BRICS before 2035, according to the Metaculus prediction community.


    Establishment split

    CRITICAL

    PRO

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