BOSTON: At first blush, it may seem like good news that the Brics (Brazil, Russia, India, China and South Africa) group will expand to include Saudi Arabia, Iran, the United Arab Emirates, Ethiopia, Egypt and Argentina. An 11-strong Brics+ could be more representative of the world's emerging economies, providing a useful counterweight to American hegemony.

Yet, in many ways, the announced enlargement represents a major lost opportunity. The world does not need more countries to fall under Chinese and Russian influence, or to align against the United States; rather, it needs a genuinely independent third grouping to provide a counterweight against both the China-Russia axis and US power.