BRICS (Brazil, Russia, India, China, and South Africa) is solely based on the economic potential of its members in the developing and altering the global economic order. It has placed a huge emphasis on multilateralism, economic cooperation, and development. The upcoming BRICS summit is going to be held on 22nd -24th August 2023 in Johannesburg, South Africa which is becoming one of the major economic events of the year as evidenced not only by the increased attention in the mainstream media but also, and perhaps more significantly, by the potential presence of several Western leaders. One of the key themes to be discussed at the summit is going to be BRICS expansion. On 1st June 2023, BRICS foreign ministers met a group of some African and other countries who had been invited as a part of the outreach exercise. According to reports, Some nations have officially registered to join BRICS, while another remaining are reportedly considering it. Saudi Arabia, Iran, the UAE, Indonesia, Bahrain, Argentina, Algeria, and Egypt are not insignificant nations. According to reports, three additional African nations are waiting. There are numerous “friends of BRICS,” ranging from Bangladesh to Guinea-Bissau to the Democratic Republic of the Congo to Cuba. [i]
HIDDEN CRAFT BEHIND BRICS EXPANSION
India has shown interest in the BRICS expansion, but there are factors of concern as well. This expansion should not become China’s intention to seize the BRICS agenda. China is basically trying to cram the BRICS with its allies. In a recent interview with the Foreign minister, Dr. S Jaishankar said that there is still work in progress and they are approaching this with positive intent.
Russia which used to be a superpower is no more a superpower and to some extent influenced by China. In SCO, China is pushing BRI, global technology and security initiative and it is trying to do something similar in BRICS. China leads the two most significant “alternative” groupings, the SCO and BRICS, none of which includes the US. India must come up with innovative measures to counteract Chinese tactics while allowing more nations to join BRICS to ensure a fair allocation of power within the alliance. So basically China and Russia are becoming the influencers in today’s world.
According to Anil Sooklal, South Africa’s Ambassador to BRICS, The BRICS is trying to create an international framework that is “more inclusive” and “addresses the existing fault lines on the global, geopolitical, geo-economic and financial architecture.” [ii]
A SHIFT FROM GLOBAL NORTH TO GLOBAL SOUTH
BRICS consists of major world economies in the global south, they have been together trying to shift the influence from the global north to the global south, by valuing their local currencies more than the U.S dollars. It feels like the association is challenging the World Bank and IMF, both the organizations which are dominated by Western influences. The Russia- Ukraine war and the western dominance have prompted calls for BRICS to grow, and due to its success, many nations like Argentina, UAE, Saudi Arabia, and Mexico are considering joining BRICS. This bloc has gained immense importance on the international stage and wants to expand its representation in the global affairs. [iii]
CHALLENGES AHEAD
The main obstacle to BRICS’s growth and long-term development is the “size-representation” conundrum. It will take a combination of the regional BRICS+ format (which brings together the regional arrangements and organisations of the developing countries) and the addition of some of the heavy hitters in the BRICS core/”partnership circle” to strike a balance between size/weight on the one hand and the coverage/representation of the main regions of the Global South on the other. [iv]
WAY AHEAD
In this regard, it is crucial that the BRICS stay ahead of the curve when planning their expansion and develop a long-term inclusive framework that can provide a variety of cooperation modalities to any developing economy in the global south, rather than simply responding to membership applications.[v]
[i] Ram Singh and Surender Singh, “ BRICS EXPANSION CAN WAIT, STRENGTHEN THE CORE FIRST”, The Wire.in , accessed on 3rd July,2023 , https://thewire.in/diplomacy/brics-expansion-can-wait-strengthen-the-core-first
[ii] Indrani Bagchi, “ THE HIDDEN TRICKERY IN BRICS EXPANSION”, The Times of India, accessed on 3rd July,2023, https://timesofindia.indiatimes.com/blogs/globespotting/the-hidden-trickery-in-brics-expansion/
[iii] “BRICS NATION SHIFTING GLOBAL ECONOMICS AND POLITICAL ORDER”, BRICS information portal, accessed on 3rdJuly,2023, http://infobrics.org/post/38739/
[iv] Yaroslav lissovolik, “ THE BRICS EXPANSION DILEMMA : SIZE VS REPRESENTATION”, BRICS information portal, accessed on 3rd July,2023, http://infobrics.org/post/38738/
[v] Ibid
Authored by:
Arya, Research intern, USI, CS3
I love to read this editorial about the expansion of BRICS in a very systematic manner with full of facts and it is perfectly justifying to the heading.
Good Knowledge of Facts and framing with easy sentences gives us right perception and true information about this topic.
Well done..
The amazing briefing about the BRICS is well stated and framed in simple words.
The information shared here are easy to understand and have given basic idea about the mission of BRICS for Indian economy.
Great Job.