Expansion to Action: BRICS+ and Multipolarity

December 18, 2024

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Eighteen years ago, amidst the collective rise of developing countries, BRICS nations officially stepped onto the international stage, bringing a "BRICS strength" to the world. Today, the expansion of BRICS is not only a significant event for their own development, but the entire globe.

The BRICS Summit, successfully held in Kazan, Russia, in October 2024, marked the first appearance of "BRICS+" on the world stage and was Russia's first hosting of the BRICS Summit since the outbreak of the Russia-Ukraine conflict over two years ago. As changes unseen in a century unfold at an accelerated pace, the environment surrounding the BRICS+ becomes increasingly complex. The future development prospects of the BRICS+ will affect the trajectory of global political and economic development. The theme of this summit was "Strengthening Multilateralism for Just Global Development and Security," highlighting multilateralism, fair development, and the representation and voice of developing countries. The most significant outcome of the summit was the issuance of the 134-point Kazan Declaration, a milestone document serving as a powerful statement against the old world order dominated by US hegemony, aiming to establish a new multipolar world order. In other words, this document proposes a framework for contributing "BRICS wisdom" and "BRICS solutions" to achieve a breakthrough in the global political and economic landscape.

Since its establishment, the BRICS cooperation mechanism has become an important platform for Global South countries to discuss cooperation, pursue development, and jointly address challenges. On one hand, the mechanism has flourished and grown in influence. BRICS+ members now include permanent members of the UN Security Council, major emergent markets, and promising developing countries, occupying critical positions in the global industrial, supply, and logistics chains, with significant international political and economic impact. As the BRICS+ family accounts for nearly half of the world's population and one-fifth of global trade, its prominence on the global stage continues to grow. More and more countries wish to join the BRICS cooperation mechanism, which will undoubtedly embolden and strengthen the bloc.

On the other hand, the BRICS cooperation mechanism has demonstrated proactivity. It has evolved into a multi-level, wide-ranging, and comprehensive cooperation mechanism, anchored by summits and supported by the BRICS+ model. This mechanism actively assisted Global South countries in achieving shared success and common goals of revitalization and development. In addition, BRICS countries have maintained close coordination on international affairs, upholding principles of fairness and justice while advocating for a multipolar world order. These nations have advanced the New Development Bank, championed reforms to the international financial system, and safeguarded the development interests of Global South countries. In tackling global challenges, the BRICS has convened special video summits on the Palestinian-Israeli issue, and emphasized dialogue and negotiation as the path to resolving the Ukraine crisis. The group has proposed "BRICS solutions" in areas of international governance such as counter-terrorism, climate change, energy, food security, artificial intelligence, and cybersecurity, echoing the voice of Global South countries.

Furthermore, the mechanism is open and inclusive, significantly enhancing its appeal. With members across four continents, the mechanism bridges diverse regions and civilizations, fostering peace and friendship. The BRICS+ countries have engaged in in-depth exchanges of governance practices, expanded interactions in universities, think tanks, and media, as well as held cultural events such as the BRICS Games, film festivals, and youth dialogues. These initiatives strengthened cultural exchanges, encouraged mutual learning among civilizations, and inspired common contemplation of the future and destiny of humanity. By promoting a paradigm of civilization interaction that transcends barriers through mutual learning, BRICS+ exemplifies the positive energy of the international community in pursuit of unity and dialogue.

At present, BRICS+ is in a new stage of development, building on past achievements while looking toward the future. It plays a significant role in promoting South-South cooperation and shaping global governance. Russia, current holder of the rotating BRICS+ presidency, has devoted significantly to the development of the cooperation mechanism. With support from China and other BRICS+ partners, Russia has held over 200 events to help new members integrate more quickly into the BRICS+ family. China and Russia have maintained close strategic cooperation within the BRICS+ framework. China actively supports Russia in its role as chair, building consensus and collective strength through the Kazan meeting. Together, they are working to propel the BRICS+ toward significant growth and impactful actions, jointly advancing an equal and orderly multipolarity while fostering inclusive and mutually beneficial economic globalization. These efforts are indeed contributing to the construction of a community with a shared future for mankind.

It should be recognized that the development of any initiative is rarely smooth sailing. While the future may appear promising, the path forward is often winding, and the development of BRICS+ is no exception. Particularly in the context of accelerating global transformations and efforts to mitigate chaos in the international order, BRICS+ will inevitably face both challenges and opportunities. From the perspective of challenges, one significant issue is the difficulty brought by expansion. Like other international mechanisms, there is often conflict between growth in membership and the deepening of cooperation. An increase in members inevitably raises the cost of coordination and negotiation. BRICS+ countries have diverse political and legal systems, religious and cultural backgrounds, and varying development strategies and interests. These differences, combined with significant disparities in development levels, make consensus building more challenging. On the other hand, unlike the G7 or the Organization for Economic Cooperation and Development (OECD), the BRICS+ adopts a consensus-based cooperation model with equal status for all members. While this structure is a political strength, as it avoids domination by any single country, it also tends to reduce efficiency as the group grows larger. After the "honeymoon period" of expansion, delays in advancing cooperative initiatives could lead to internal troubles. Another challenge comes from increased external resistance. As a Chinese saying goes, "Tall trees catch much wind." External forces are vigilant about BRICS expansion and have taken measures to restrict and even undermine BRICS+ cooperation. Since 2023, the EU has issued several documents warning against the BRICS and recommending containment measures. In fact, at the end of 2023, the BRICS encountered the "Argentina shock." Argentina had been under tremendous internal and external pressure before joining, and its last-minute withdrawal highlighted the growing complexity of the current BRICS+ environment. These developments suggested increasing external pressures and resistance in the future. Moreover, increased internal challenges are another obstacle. Skepticism about the BRICS+ exists even within its own member states, which has sometimes hindered broader cooperation. Recently, some member countries have experienced severe economic and political crises. For instance, Egypt is grappling with high inflation, a foreign exchange shortage, and mounting debt, while Ethiopia is experiencing its most severe political turmoil in decades. In addition, Russia is involved in the Russia-Ukraine conflict, which brings uncertainty to the BRICS+ development. The emergence of these issues will inevitably affect the advancement of the BRICS+ cooperation.

From the perspective of opportunities, BRICS+ cooperation has entered a new period of rapid development. The new members are among the most prominent emerging and developing countries, with huge potential in resources and markets. For example, Saudi Arabia and the UAE bring oil, gas, and financial resources; Ethiopia contributes agricultural products and clean energy; Iran offers energy assets; and Egypt provides a robust mining industry. These additions create substantial room for further collaboration within the BRICS+, unlocking new potential and opportunities. The expansion also generated fresh momentum and cooperation needs. Whether through bilateral or multilateral engagements, the past framework of the BRICS needs to be updated and expanded. The increase in membership and the diversification of representation not only greatly enhance bilateral cooperation but also necessitate adjustments to the original BRICS cooperation mechanisms. The increase in cooperation members, range, and dimensions is conducive to BRICS+ countries playing to their respective advantages, revitalizing existing cooperation stocks, and stimulating new cooperation potential. It is worth pointing out that the scale advantage brought about by the BRICS+ expansion is obvious. The overall strength of the group has been enhanced, and its weight in the world's economy and politics has increased. Currently, the BRICS+ countries account for about 45% of the world's population, nearly 35% of the world's territory, and about 35% of the global economy (calculated by purchasing power parity), all exceeding the G7 and the EU. Financially, BRICS+ countries hold about 20% of the world's gold reserves, half of the world's currency reserves, and 19% of the voting rights in the World Bank and the International Monetary Fund. This gives the BRICS+ substantial influence in global financial markets. In addition, in key sectors such as oil, natural gas, food, and critical minerals, the position of the group has been significantly enhanced, cementing its role as a pivotal global player. This means that the BRICS now has greater advantages, more say, and stronger capabilities to shape the global agenda in the aforementioned areas.

The core proposition of the BRICS+ countries remains the pursuit of their independent development, with the vision of a multipolar world framework. Global South-South cooperation, represented by the BRICS+, has disrupted the Western hegemony paradigm, marking a turning point in the world's dynamics. The ongoing Russia-Ukraine conflict and the conflict in Gaza have prompted BRICS+ countries to make adjustments in political, economic, and social aspects, bringing new vitality to the BRICS+ cooperation and enhancing the influence of the BRICS+ countries. BRICS+ countries should seize this opportunity to build high-quality partnerships and embark on a new journey of cooperation. The future remains uncertain as always, but in these trying times, the BRICS shows promise for a more peaceful and economically prosperous world.

 

 

This article is from the November issue of TI Observer (TIO), which focuses on recent multilateral meetings, examining the pivotal role of the Global South in redefining global cooperation, and exploring how this emerging force is shaping new consensus and balance in the global landscape through regional and global platforms. If you are interested in knowing more about the November issue, please click here:

http://en.taiheinstitute.org/UpLoadFile/files/2024/11/29/1856267882f43abf9-2.pdf

 

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