Twenty-two years after former Goldman Sachs banker Jim O'Neill coined the "BRICS" term, the grouping of Brazil, Russia, India, China and South Africa now accounts for 40% of the world population and 25% of global GDP. In the past few months, countries like Saudi Arabia, Bangladesh and others have queued up to join the group or its New Development Bank. Talks on whether BRICS should have its own currency have also emerged.

What's behind the growing appeal of the BRICS group? How does it contribute to the betterment of global governance? Host Liu Kun is joined by Reon van der Merwe, Regional Programs Associate for the Southern African Youth Forum; Renato Baumann, professor at the Department of Economics, Universidade de Brasília; Lu Xiankun, former senior trade diplomat of China, and founder of a think tank on the WTO based in Geneva; and Dr. Dai Yonghong, Director, Institute of Global Governance and Area Studies, Shenzhen University, China.