With the recent step of BRICS to include six more countries to its alliance, the organisation found a new purpose with its expansion, but also more contradictions.
The Recent Expansion
- BRICS Summit's 15th edition: It showcased global interest with 22 applications from 40 countries, emphasizing its growing relevance.
- Countries being included: BRICS expands ambitiously, adding Egypt, Iran, Saudi Arabia, UAE, Ethiopia, and Argentina, increasing membership from 5 to 11.
- Significance: Inclusion of major Middle Eastern and African-South American players underscores BRICS' evolving geopolitical and economic influence.
BRICS: Origin & growth
- Origin: BRICS emerges as counter-narrative to G-7, addressing issues from climate to sanctions, backed by practical initiatives like New Development Bank (NDB) and CRA.
- Importance of Organisation: With 30% global GDP each, BRICS gains parity with G-7; diverse representation spans 40% of world population.
- BRICS' expansion adds major oil suppliers, bolstering its energy influence and consolidating its significant global impact.
Contradictions around BRICS
- China’s global image: BRICS' success marred by internal discord, India-China rivalry, and potential conflicts arising from diverse inductions like Iran-Saudi Arabia.
- Russia’s war with Ukraine: Political caution needed to avoid discomfort among members with differing global power alignments; Russia's actions raised concerns.
- Way forward: BRICS' potential lies in shared prosperity and democratic global governance model, counteracting challenges for a cohesive and impactful future.