As we watch the American dollar and economy lose power on the world stage, this alliance could quickly move to take its place, especially as other countries that used to be allied with us move over this bloc.

As a matter of opinion, I think that on the global stage, BRICS is a union we should watch, as there are several large economic powers involved that aren't exactly friends of the United States of America. Should this group continue to grow, it's possible that it could dramatically affect us with regard to world trade. And that's at the very least.

Let's look a little deeper into it.

What is BRICS?

BRICS is an economic alliance that has been around since about 2001. Jim O'Neill from Goldman Sachs coined the acronym BRIC to represent the original countries: Brazil, Russia, India, and China. By 2010, South Africa had been added, bringing us to the current acronym. O'Neill predicted that by 2050, the original four nations would be the dominant forces in the global economy. Investopedia explains: