The countries that make up BRICS—Brazil, Russia, India, China, and South Africa, along with five recent additions—form an informal coalition of emerging economies aiming to expand their influence in global affairs. BRICS, established in 2009, was founded on the belief that international institutions have been too heavily dominated by Western powers and are not sufficiently serving developing nations. The coalition has sought to harmonize its members’ economic and diplomatic agendas, establish new financial institutions, and reduce dependency on the U.S. dollar.

Nevertheless, BRICS has faced internal divisions on several matters, such as its members’ differing stances on relations with the United States and the Ukraine conflict. Expanding membership has amplified the group’s clout but also introduced new tensions. While some analysts caution that the coalition could disrupt the Western-led global order, skeptics argue that its goals, like creating a shared currency or an effective alternative to existing institutions, encounter substantial obstacles.

Why does BRICS matter?

Although BRICS is not a formal organization, it is a coalition of non-Western economies that work together on economic and diplomatic goals. The BRICS countries aspire to counterbalance the Western perspective that dominates major multilateral institutions, including the World Bank, the Group of Seven (G7), and the UN Security Council.

The group’s 2024 expansion carries notable geopolitical weight. The ten BRICS nations now represent over a quarter of the global economy and nearly half of the world’s population. This enlargement could impact the Gaza and Ukraine conflicts, shape the global economic order, influence China-West competition, and contribute to global clean energy efforts.

Yet, with this growth comes new........

© The Spine Times