BRICS: Shaping a NEW Global Order?

Can the BRICS countries (Brazil, Russia, India, China, and South Africa) create a new world order? Explore the challenges they face in overcoming internal fissures and their potential to offer alternative economic and geopolitical alternatives to the US-led global order.

The BRICS countries, comprising Brazil, Russia, India, China, and South Africa, have emerged as major global players with robust economies, large populations, and ambitious goals. As these nations gather for a three-day summit, they are poised to challenge the long-standing US-led world order. However, internal differences and geopolitical tensions pose significant obstacles to their collective aspirations. This blog post delves into the potential of BRICS to create a new world order, highlighting the need to address internal fissures for effective collaboration.

Expanding BRICS Influence:

The BRICS nations have witnessed a surge in demand for membership, with over 40 countries expressing interest in joining this influential group. One of the driving factors behind this attraction is the collective economic power of the BRICS countries, surpassing that of the G7 nations in terms of purchasing power parity. Despite their significant contributions to the global GDP, these countries face imbalances in voting power at institutions like the International Monetary Fund (IMF).

Moreover, growing concerns about the United States potentially weaponizing the dollar through sanctions have led the BRICS nations to explore ways to reduce dependence on the US currency. They aim to bolster bilateral trade using their own currencies, thus mitigating the risk of sanctions and promoting economic autonomy.

Navigating Internal Differences:

While the BRICS countries share a common goal of challenging the US-led global order, internal differences pose challenges to their collective efforts. The tense border standoff between India and China since May 2020 underscores the complex dynamics within the group. Additionally, countries like India, South Africa, and Brazil seek to maintain positive relations with both the West and China/Russia, further complicating the path to cohesive collaboration.

The Clout of BRICS: Piecemeal Alternatives or Dramatic Replacement?

Analysts suggest that while the clout of the BRICS nations is set to grow, they are more likely to offer piecemeal economic and diplomatic alternatives to the US-led global order rather than dramatically replacing it. This approach may lead to increased tensions with the West as the BRICS countries strive to chart an independent path in an ever-changing world. However, for the BRICS to remain effective, addressing the disparate priorities of member nations is crucial, albeit challenging.

Becoming the "Voice" of the Global South:

The current concentration of economic power, leaving many nations at the mercy of a few, has resonated strongly across the developing world. The BRICS countries, along with other emerging powers, seek to challenge the post-Cold War unipolar system and advocate for a more inclusive global order. China and Russia present themselves as champions of this cause, highlighting the need to rectify historical injustices and provide a voice for the Global South.

The BRICS countries have the potential to shape the global order and provide alternative economic and geopolitical perspectives. However, their collective journey is hindered by internal fissures and divergent priorities. While the BRICS may not fully replace the US-led global order, they can contribute through piecemeal alternatives. As the world undergoes significant transformations, the BRICS countries must navigate their differences and work toward a cohesive vision that addresses the concerns of the Global South while maintaining stability and cooperation within the group.