PRESIDENTS and prime ministers from the Brics (Brazil, Russia, India, China, and South Africa) are meeting in Xiamen for the group's 9th annual summit. The session - which comes soon after a significant security spat between China and India which chilled bilateral ties - sees Egypt, Kenya, Tajikistan, Mexico and Thailand also joining as guest countries.

Beijing's invitation to these key emerging markets has prompted speculation about a potential new "Brics plus" approach to expanding the bloc. However, host countries have invited different countries to the summit for some time now, and China's approach this year is only different in that a global spectrum of states are attending whereas other hosts have tended to invite neighbouring countries.

One key reason there is some opposition within the bloc to expanding its membership is that it has become a prestigious group by virtue of its small size. Moreover, there is a perception that the club - as it now stands - already has significant clout and dynamism accounting for 23 per cent of global GDP in 2016, up from 12 per cent a decade ago.