BRICS expansion to become moral victory for Russia, China

The expansion of BRICS via countries like Saudi Arabia would become a moral victory for Russia and China, according to Associated Press.

"Even an agreement on the principle of expanding BRICS, which already consists of a large chunk of the developing world’s biggest economies, is a moral victory for the Russian and Chinese vision for the bloc as a counterbalance to the G-7," AP says.

According to Prof. Alexis Habiyaremye of the College of Business and Economics at the University of Johannesburg, accession of such major actors as Saudi Arabia to the BRICS will strengthen the economic component of the association.