BRICS on the rise: What impact will it have on the world?

This will be the first peak after the expansion of the block occurs in early 2024. Egypt, Ethiopia, Iran and the United Arab Emirates later became member states of the forum, joining Brazil, Russia, India, China and South Africa.

Swoboda Radio portal assumes that Chinese leader Xi Jinping will try to use the meeting to present an alternative world order, and its host, dictator Vladimir Putin will try to prove that – despite the fact that he himself is wanted under a detention order issued by the International Criminal Court – Moscow is not in diplomatic isolation.

The website quoted Carlos Solar, an expert from the Royal United Services Institute (RUSI) think tank in London:- The BRICS bloc once again got a breath of fresh air; partly because the world order under Western rule and Western institutions are threatened with chaos. The broader message is that the world is changing, and what happens with banking, finance, and international law may determine which regions of the world will matter most in the coming decades..

What is the main topic of this year’s BRICS Summit?

This year’s summit may pave the way for further BRICS expansion. Putin invited the leaders of more than 20 countries that have applied for or are considering membership in the organization, including the leaders of Azerbaijan, Belarus, Turkey and Mongolia, as well as those who, like Kazakh President Kassym-Jomart Tokayev, have said they will do so. refrain from applying for membership in the near future. It is known that Putin will hold bilateral meetings with heads of state, especially Xi Jinping. Beijing aims to develop BRICS as part of a broader strategy to become the leader of the so-called BRICS countries of the South, seen as a counterweight to the West in global politics and trade.

Brazil’s president canceled the visit for health reasons Inacio Lula da Silva.

– Putin said that BRICS spoke on behalf of the countries of the South. This argument is also advanced by China, which, like Russia, hopes BRICS will become a tool to challenge the Western-dominated international order. and especially the dominance of the United States – said Stuart Patrick from the American think tank, Carnegie Endowment for International Peace, quoted by Radio Swoboda.

What is BRICS and what is its purpose?

The group of countries known as BRICS was founded in 2009 by Brazil, India, Russia and China. The acronym BRIC is created from the first letter of the name of the country, with the addition of the letter S from the English name of the Republic of South Africa – a member of the agreement since 2013. Currently, the bloc unites nine countries. At the beginning of this year it was reported that Saudi Arabia had also joined the bloc, but this information was corrected in mid-January. On January 1, 2024, Argentina was also supposed to join the alliance, but the country’s new president, Javier Milei, withdrew this decision at the last minute, stating that he “does not currently consider Argentina’s entry into BRICS to be the right move .”

The official objectives of BRICS’ existence include: the creation of a new monetary system and UN reform. Today, the organization brings together countries whose combined income exceeds a third of global GDP and whose population accounts for 45 percent. earth’s population. Its members own nearly 45 percent. world oil reserves. Most of these countries officially maintain a neutral position in Russia’s war with Ukraine and do not support Western efforts to isolate Moscow in the international arena.

Some Western experts believe that actual economic cooperation within the bloc and its effectiveness currently remains low. According to them, this is due, among other things, to the fact that when the bloc was founded, its founders recorded very high levels of economic growth, but – in the case of some of its members – it has declined significantly in recent years.