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The BRICS group of emerging markets — Brazil, Russia, India and China, with South Africa added later — has gone from a slogan dreamed up at an investment bank to a real-world club that also controls a major development bank. It once might have seemed ironic to see Communist Party-ruled China embrace the Wall Street conceit. But now countries of all political stripes, including Iran and Saudi Arabia, are clamoring to join, setting up potential friction at the club’s Aug. 22-24 summit in Johannesb
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