Irene Mia
As BRICS states meet in Kazan, Russia from 22–24 October for their annual summit, the organisation continues to elude clear definition. Established in 2009, its informal structure, diverse membership – often divided by long-standing geopolitical rivalries – and varied agendas defy easy categorisation within traditional schemes of free trade, economic integration or political cooperation. These factors have prompted scepticism about the organisation’s significance as a multinational forum and its long-term viability. Yet BRICS has continued to expand and prosper, building institutions like the New Development Bank and welcoming new members, reflecting its strong appeal to the Global South, as evidenced by the numerous countries eager to join.
Global governance architecture not fit for purpose
BRICS’ resilience despite the odds must be understood in the context of current geopolitical shifts. The international order is undergoing a transformation and rebalancing, driven by the rising economic influence and diplomatic assertiveness of China and several emerging powers in the Global South. As the world moves towards multipolarity, more countries are aligning with China (at least economically), often at the expense of the United States and the West. Meanwhile, a revanchist Russia has emerged as another focal point attracting many states, particularly those from the Global South. In this fragmented global landscape, the governance system established after the Second World War, which is centred around the US (and the US dollar), faces increasing criticism from Global South powers, who consider it outdated and unrepresentative of current economic and geopolitical realities.
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