The Rise of BRICS: Shifting Global Power Dynamics

From Economic Growth to Geopolitical Influence: Tracing the Evolution and Impact of the BRICS Nations

In recent years, the global geopolitical landscape has undergone significant shifts, with emerging economies gaining more influence on the world stage. One of the most prominent examples of this shift is the rise of the BRICS nations - Brazil, Russia, India, China, and South Africa.

These countries have increasingly positioned themselves as a counterbalance to the traditional power structures dominated by Western nations.

The BRICS consortium has seen heightened interest from various countries around the globe, signalling a potential increase in its membership. The founding countries of Brazil, Russia, India, and China held the first summit in Yekaterinburg in 2009, with South Africa joining the bloc a year later. Iran, Egypt, Ethiopia, and the United Arab Emirates joined the organisation fifteen years later. Saudi Arabia has not officially joined but participates in the organisation's activities as an invited nation.

This development has led to a growing divide between the BRICS and the West, a divide that is reshaping international relations, trade, and diplomacy.

In 2018, the BRICS countries overtook the G7 countries' share of the world's total gross domestic product (GDP) in purchasing power parity (PPP). By 2024, the difference had increased even further, with the BRICS now holding 35 per cent of the world's GDP compared to 30 per cent held by the G7 countries.

The origins of the BRICS alliance can be traced back to their shared desire for more equitable global governance structures. Feeling marginalised by the existing international systems, which they perceive to be heavily skewed in favour of Western interests, the BRICS nations have sought to create alternative platforms for cooperation and dialogue. Their efforts have been aimed at reforming institutions like the United Nations, the International Monetary Fund, and the World Bank to reflect the realities of the 21st-century global economy.

The economic policies and strategies of the BRICS nations have also contributed to the widening gap with the West. While Western economies, particularly those in Europe and North America, have mainly embraced neoliberal policies characterised by free markets, deregulation, and privatisation, the BRICS have often favoured more state-led development models. For instance, China's economic rise has been propelled by significant state intervention, while India has pursued a mix of liberalisation and protectionism to safeguard its domestic industries.

Moreover, the BRICS have been working to reduce their reliance on the US dollar in international transactions, aiming to diminish the West's financial hegemony. Initiatives such as establishing the New Development Bank, or the BRICS Bank, and discussions around creating a common currency for trade within the bloc are steps toward achieving greater economic independence. Some see these moves in the West as challenges to the existing global financial order.

On the geopolitical front, the divide between the BRICS and the West has been exacerbated by differing stances on various international issues. For example, the BRICS nations have often advocated for a more multipolar world order, where power is not concentrated in the hands of a few Western countries. Their positions on conflicts in the Middle East, climate change negotiations, and internet governance, among others, frequently diverge from those of Western nations. This has led to accusations from some quarters in the West that the BRICS are attempting to undermine the rules-based international order.

However, it's essential to recognise that the BRICS are not a monolithic bloc, and significant differences exist among them regarding politics, economy, and foreign policy objectives. For instance, while China and Russia have often aligned on specific issues, India's strategic interests can sometimes diverge from those of its BRICS partners, particularly its rivalry with China. Similarly, Brazil and South Africa have unique perspectives and priorities shaped by their regional contexts.

Despite these differences, the BRICS countries have found common ground in their quest for a more inclusive and equitable global order. They argue that the current international system needs to adequately represent the interests of the Global South and developing economies. Through forums like the BRICS summits and the G20, they have pushed for reforms that would give them and other emerging economies a more excellent voice in global decision-making processes.

The growing divide between the BRICS and the West is not merely a tale of competition or confrontation. It also reflects the changing dynamics of global power and the need for existing international institutions to adapt. As the world becomes increasingly multipolar, the ability of nations to cooperate across divides and manage differences will be crucial for addressing common challenges, from climate change and pandemics to economic inequality and cybersecurity threats.

This interest is a testament to the BRICS nations' growing influence on the world stage, particularly as they champion a more equitable international order that resonates with many emerging and developing economies. The allure of joining BRICS stems from several factors, including the desire for more robust economic cooperation, increased trade opportunities, and a platform for political and diplomatic engagement that diverges from traditional Western-dominated institutions.

Countries expressing interest in joining BRICS are drawn by the bloc's initiatives, such as the New Development Bank, which offers an alternative to Western-led financial institutions like the IMF and World Bank. Additionally, the prospect of reducing reliance on the US dollar and fostering greater economic independence through alternative trade and investment mechanisms is appealing. This interest indicates a broader shift towards a multipolar world order, where power is more distributed and emerging economies have a louder voice in global governance. The BRICS countries have acknowledged this growing interest, and discussions around expansion have been on the agenda.

While expansion could enhance the bloc's worldwide influence and bargaining power, it also necessitates careful consideration of the economic, political, and strategic implications of including new members. The criteria for expansion and the potential impact on the group's cohesion and objectives are critical points of discussion among current members. In essence, the keen interest in BRICS membership from other countries underscores the shifting dynamics of global power and the quest for a more balanced international architecture that reflects the interests and aspirations of a broader array of nations.

As the BRICS nations navigate these discussions, the prospect of expansion holds the promise of further reshaping the global geopolitical landscape, counterbalancing established powers and fostering a more inclusive approach to addressing pressing global challenges.

The relationship between the BRICS and the West is complex and multifaceted, encompassing cooperation, competition, and divergence. As the global centre of gravity shifts, understanding and engaging with these emerging powers will be essential for maintaining international stability and promoting sustainable development. The growing divide does not have to lead to a fractured world; instead, it could herald a more diversified and dynamic international system where multiple voices contribute to shaping the global agenda.