China is leading the way in a growing anti-Western economic alliance known as BRICS, a Wall Street term that has morphed into a diplomatic and trading power bloc that threatens U.S. interests abroad. Originally formed by Brazil, Russia, India and China in 2009, these countries invited South Africa to join the political group a year later, when an “S” was added to the BRIC acronym. At the 15th BRICS Summit in Johannesburg last month, six more nations joined the confederation. Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates were just admitted to the coalition at the annual...