BRICS+ Rising Economically But Lags on Democracy as Power Shifts from G7
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BRICS+ share of global GDP has risen from 19% in 2001 to 36% now, and is forecast to reach 45% by 2040 as emerging economies grow faster than advanced ones.
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BRICS+ aims to challenge dollar dominance and build alternative institutions to IMF/World Bank, but lacks cohesion and unified strategy.
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China's slowing growth and India's reluctance to promote yuan may limit BRICS+ ability to displace dollar.
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BRICS+ contains more state-led economies with lower scores on political freedom and economic openness compared to G7.
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Shift of economic power to BRICS+ may bring greater state intervention and less democracy, with their share of "not free" economies rising.