The BRICS mechanism – an acronym for Brazil, Russia, India, China, and South Africa – has emerged as a pivotal force in global politics and economics. Founded in 2006, the group was initially seen as a coalition of developing nations that would be primarily instrumental in promoting economic cooperation. Nowadays, with five new members, it has progressed to stand for equity and cooperation in the international order. Despite criticism and theories on its collapse, BRICS has proved to be resilient, adaptable, and relevant in today’s complex world.
Addressing Skepticism
In recent years, BRICS countries have been critiqued for their growth models and development trajectories. Such scepticism gave way to narratives like the “BRICS collapse theory” and the earlier “BRICS fading theory.” The reality, however, is different: The BRICS cooperation mechanism not only survives but is becoming stronger through growth opportunities and dynamism.
Over the years, BRICS members have made sizeable strides on various fronts, including technology, energy, and finance. More recently, the addition of Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE has further expanded the group’s geographical and economic scope in levels of production, technical innovation, and foreign trade.
Critics, in turn, highlight internal issues such as economic disparities and political tensions within BRICS as potential sources of stagnation. Whether they care to admit it or not, national security anxieties do not eclipse the great strides that BRICS has accomplished thus far but suggest that collaboration will be strengthened to keep their growth functional amidst misinformation and division.
Greater Representation in Global Governance
Since its inception, BRICS has advocated abiding by the purposes and principles of the UN Charter, promoting the vision of common, comprehensive, cooperative, and sustainable security. The group upholds dialogue rather than confrontation, partnership rather than alliances, and win-win outcomes over zero-sum results, thereby fostering common development and prosperity in the Global South. With a combined population of over 3 billion people and a significant share of global GDP, BRICS countries maintain considerable influence in trade, energy, and climate policy.
With members spanning different continents, BRICS is rapidly becoming a potent counterpart to West-led exclusive cliques in a multipolar world order. The group remains highly relevant in tackling key issues facing the developing world and has successfully pushed for reforms in global governance structures to reflect the economic realities of the 21st century.
For instance, BRICS has effectively advocated for enhanced representation of the emerging economies in international financial institutions. Such initiatives have helped reduce the potential exposure of the Global South to geopolitical risks stemming from unilateral, unpredictable actions such as disproportionate tariffs, trade wars, and economic sanctions.
Furthermore, BRICS’ relevance is amplified by its ability to facilitate dialogue among its members. Unlike the Western blocs such as the Group of Seven – regarded by many as a club of wealthy, developed economies – BRICS is diverse, encompassing a wide variety of political systems and economic models that enable members to trade with and economically support one another. This diversity has enabled the group to address a wide range of issues like global supply chain security, energy policy, climate change, and sustainable development.
A Matter of Necessity
Via a parallel logic, BRICS acts as a crucial mechanism for South-South cooperation, whereby developing nations can advance their shared interests and goals. These countries, typically underrepresented in international bodies, gain a louder voice through BRICS on systemic issues affecting their growth and development. The group has provided an avenue for states to demand a more inclusive agenda, from infrastructural development to equitable trade policies.
The 16th BRICS Summit held in Kazan, Russia, put a spotlight on sustainable development. As one of the group’s core roles, it allows members to take joint initiatives on the climate crisis while maintaining economic growth. For example, the transition to green energy became a central focus during discussions, aimed at reducing dependence on fossil fuels and promoting innovation that benefits the entire group.
In the same vein, while supporting the economic development of BRICS members, the New Development Bank (NDB) also contributes to improving the global economic governance system. For instance, from urban rail projects in India to green wind energy projects in Brazil, the NDB, through its efficient and pragmatic cooperation model, enriches South-South cooperation and sets an example of multilateral collaboration. Additionally, the Contingent Reserve Arrangement provides support to countries facing financial emergencies.
If this is not genuine global participation, we don’t know what is. BRICS has managed to provide a coherent platform for developing nations to pursue their long-term goals and interests independently of external pressures. This cumulative strength has enabled the group to successfully challenge the status quo and demand a more equitable global order. For many countries, engaging with BRICS is more than just a strategic option; it has become a necessity.
Bobby Naderi is a London-based journalist, guest contributor in print, radio and television, and documentary filmmaker. The article reflects the author’s opinions, and not necessarily the views of The Southern African Times.
