BRICs is an acronym for Brazil, Russia, India, China, and South Africa. These countries are identified as rising economic powers as they are projected to dominate global growth by 2050 according to Chen (2023). BRICS was created in 2001 by Goldman Sachs economist Jim O'Neill. Initially, there were four countries called BRIC, then South Africa was added in 2010 and it became BRICS.

I do see some issues and concerns because the US and China have always struggled to understand each other's views. China has different views on how the economy should be run and rarely ever sways away from what they view as relevant. Furthermore, the debt that the US owes to China in the long run could be used as leverage. Vertical globalization seems to be where we are headed. This could only lead to a divide and blocs forming by countries who have similar views. This is going to have a huge effect on the supply chain. Based on history, these effects have led to wars and devastating effects on many countries. China would have to learn to coexist with countries that do not view their ideas as the best. There are many countries that have already entered into regional trading blocs with China. One of the fastest-growing blocs that China has entered is the Southern Common Market. China is also involved with The Asia Pacific Economic Corporation, the Indian Ocean Rim Association, and The ASEAN Economic Community. They are moving forward at a fast pace to gain leverage and expand their footprint by joining these different blocs. At this rate, China will build up enough leverage to not only corner the market but also have a demanding and commanding voice when it comes to major world decision-making.

Elaborate on this. I want to understand it more