The 15th BRICS leaders’ summit in Johannesburg has attracted significant interest from around the world, indicating the growing importance of the bloc since its inception in 2006. Over 20 countries are seeking admission to the five-member organization, and the list of countries represented at the meeting in South Africa is three times longer than before. This demonstrates the desire of non-Western nations to have a more influential role in global affairs and the increasing backlash against Western dominance.
However, the BRICS group faces challenges as it seeks to reshape the world order. The first challenge is expanding its membership. Many countries from different regions have expressed interest in joining BRICS, including Algeria, Argentina, Bangladesh, and Saudi Arabia. While a larger BRICS would send a strong signal against the dominant US-led system, the question remains whether a more diversified bloc would be immediately stronger.
To address this challenge, BRICS could learn from the Shanghai Cooperation Organization (SCO), another non-Western group that successfully managed enlargement. The SCO started with Russia, China, and three Central Asian states and has since expanded to include India, Pakistan, Uzbekistan, and Iran, with other countries in line for admission. Adopting the SCO’s approach could provide a solution for BRICS.
Another challenge for the bloc is reducing the non-Western economies’ dependence on the US dollar. The weaponization of the dollar by the US against Russia and its manipulation of trade and technology against China have made this issue urgent. The BRICS’ New Development Bank has also faced restrictions due to Western influence. Some have suggested creating a common currency to break the dollar’s monopoly in world finance. However, this poses challenges given the diverse economies within BRICS and the principle of national sovereignty. Instead, it would be more practical to improve the use of national currencies in trade between BRICS countries, addressing issues such as convertibility and exchange rate stability.
BRICS is often contrasted with the G7, but they are fundamentally different in ambition, structure, and evolution. The G7 is politically, economically, and ideologically homogenous, led by the United States, and seeks to project its models and morals globally. In contrast, BRICS is diverse in all aspects and focuses on national sovereignty. The G7 is exclusive, with the West sitting above the rest, while BRICS embraces the diversity of different civilizations and cultures.
The G7 aims to preserve the old order in which the West is dominant, while BRICS seeks to build a more diverse and balanced world order, starting among its members and then impacting the global system. BRICS is not an attempt to create a zero-sum alliance but represents the core of a World Majority focused on development rather than dominance. Despite the challenges and opposition, BRICS continues to lay the foundation for a more inclusive and open world order.
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