Don’t Dismiss the BRICS by Joschka Fischer
https://www.project-syndicate.org/commentary/brics-matter-as-vehicle-for-emerging-powers-in-changing-world-order-by-joschka-fischer-2024-10
https://www.project-syndicate.org/commentary/brics-matter-as-vehicle-for-emerging-powers-in-changing-world-order-by-joschka-fischer-2024-10
Putin Brings Together Economies He Hopes Will Eclipse the West
https://www.nytimes.com/2024/10/21/world/europe/russia-china-brics.html
The Russian leader hopes to use the meeting of the so-called BRICS group, which includes China and India, as a counterweight to the West.
https://www.nytimes.com/2024/10/21/world/europe/russia-china-brics.html
The Russian leader hopes to use the meeting of the so-called BRICS group, which includes China and India, as a counterweight to the West.
The BRICS Effect by Brahma Chellaney
The BRICS are already engaged in institution-building,
having established the New Development Bank – conceived by India and
headquartered in Shanghai – in 2015. The NDB is not only the world’s first
multilateral development bank created and led by emerging economies; it is also
the only one whose founding members remain equal shareholders with equal voice,
even as more countries join. By contrast, the US is the dominant shareholder
and holds veto power in the World Bank.
The expanded BRICS+ boast formidable global clout. The
grouping dwarfs the G7, both demographically (with nearly 46% of the world’s
population, compared to the G7’s 8.8%) and economically (accounting for 35% of
global GDP, compared to the G7’s 30%). Its economies are also likely to be the
most important source of future global growth. Furthermore, with Iran and the
UAE having joined their oil-producing counterparts Brazil and Russia as
members, the BRICS+ now account for about 40% of crude-oil production and
exports.
How Economic and Strategic Alliances Are Changing
in a Multipolar World
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