Kester Kenn Klomegah
Russia has suspended BRICS expansion. It happened on the eve of the XVI summit under the motto “Strengthening Multilateralism for Equitable Global Development and Security” when a multitude of countries with interconnected interest are scheduled for converge in Kazan, capital city of the antonomous Republic of Tatarstan, Russia’s window to the lands of Islam and 2024 BRICS+ capital.
BRICS, most often described as an informal association comprising Brazil, Russia, India, China and South Africa, has unexpectedly backed away from its symbolic rhetoric of enlargement or expansion under Russia’s leadership. It has enrolled five new members: Ethiopia, Egypt, Iran, United Arab Emirates and Saudi Arabia, thus transforming BRICS into a powerful association that challenges United States and Europe for their rules-based order and hegemony. Assessing its trending line of activities, BRICS unreservedly aspires to re-arrange the global economic architecture, criticizes the ‘exceptionalism’ of the well-established institutions such as the World Trade Organization, the International Monetary Fund and the World Bank.
In addition, BRICS has set significant task to ensure a fairer interconnectedness between states, and enlist their active participation in the reconstruction of global economic architecture away from existing unipolarity. In order to realize this, BRICS introduced the concept of ‘de-dollarization’ and the term ‘multipolarity’ to the admiration of majority of developing countries in the Global South. An appreciated driver for this process is BRICS platform created to voice out broader common objectives, to engage in steadfast reforms and to roadmap better alternative socio-economic and political directions.
Expansion Controversy
Under Kremlin’s control during 2024, BRICS is envisioned on three distinctive policy principles: a shift towards bolstering a new economic architecture, respect for equal rights and protection of sovereignty, and sustaining a fairer participation in international relations. In a typical practice and as the geopolitical contest widens, BRICS approach focuses on ways to limit United States and Europe’s overarching strategic interests around the world. Then moreover, academic narratives have re-enforced the primary facts that BRICS is being transformed into a consolidated force to counterbalance Western-led economic institutions such as the G7, International Monetary Fund (IMF) and World Bank.
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