The expanded BRICS alliance is no longer a symbol of the future—it’s a force in the present.
The potential of BRICS members and partner countries to fulfill their individual aspirations via BRICS hinges on what vision of the future of world order ultimately wins out within BRICS. From Beijing to Brasília, Addis Ababa to Abu Dhabi, the world is watching as the BRICS bloc transforms from a five-member coalition into a sprawling global counterweight. But what does BRICS+ actually want—and can it deliver?
The Shift From G7 to BRICS+
- New Members, New Math: BRICS now includes 10 countries (Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, UAE, and Indonesia), representing 45% of the global population and over 35% of global GDP (PPP).
- More Than a Talk Shop: Institutions like the New Development Bank (NDB) and Contingent Reserve Arrangement (CRA) show BRICS is serious about financial sovereignty, especially amid U.S. sanctions and rising debt burdens in the Global South.
- De-Dollarization Agenda: From cross-border payment systems to trade in national currencies, the goal is clear—less dependence on the U.S. dollar.
Divergent Goals, Shared Frustrations
BRICS countries don’t speak with one voice—but they do share one concern: Western dominance.
- Brazil seeks global status and strategic balance between the U.S. and China.
- Russia wants to sidestep sanctions and revive its global prestige.
- India uses BRICS to hedge against China while preserving its multipolar ambitions.
- China sees BRICS as its strategic megaphone in shaping a post-Western order.
- South Africa wants to amplify Africa’s voice in global governance.
The new entrants are no less ambitious:
- UAE and Indonesia eye economic diversification and regional leadership.
- Iran sees BRICS as a sanctions-proof trading lifeline.
- Egypt and Ethiopia want development financing and geopolitical hedge options.
What’s the Endgame?
BRICS isn’t (yet) a NATO-style alliance. But it’s evolving fast:
- Geopolitical Bloc? Russia and China would say yes.
- Multipolar Forum? Brazil, India, and the UAE prefer this vision.
- Economic Alternative? For Africa, South Asia, and Latin America, BRICS offers a shot at financial independence—from the IMF and the dollar alike.
Pressure Points Ahead
- China’s Dominance: Beijing’s oversized role raises concerns from India to Vietnam. Calls are growing for institutional reforms to prevent BRICS from becoming a Chinese proxy.
- Trump’s Tariff War & Sanctions: The second Trump administration sees BRICS as a rival. Aggressive tariffs and financial penalties could harden BRICS into a reactive bloc—exactly what Brazil and India fear.
- Global Governance Tensions: With growing influence comes greater friction at the G20, WTO, and IMF, where BRICS members are demanding more voice, fewer conditions.
Investment & Strategic Watch
For markets and governments, BRICS+ is a wildcard with real weight:
- Investors should monitor NDB lending trends and member currency swaps.
- Tech watchers should track BRICS-led standard setting in AI, fintech, and e-commerce.
- Geopolitical analysts should note how middle powers like Türkiye, Saudi Arabia, and Vietnam balance BRICS interest with Western partnerships.
BRICS+ is not a monolith, but it is a message. The West no longer owns the future of global governance. Whether BRICS becomes a rival or reformer will depend on internal unity, U.S. foreign policy, and the global economic cycle. Either way, the age of bloc diplomacy is back—and it’s not business as usual.
Source: Carnegie
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