The BRICS group—Brazil, Russia, India, China, and South Africa—has become the center of attention for many developing countries that feel left out by Western institutions like the World Bank and IMF. These countries believe these organizations don’t treat them fairly or as equals, and they’re looking to BRICS for a new way forward. Indian Prime Minister Narendra Modi, speaking at the 16th BRICS Summit in Kazan, Russia, emphasized that BRICS could be the solution.
At the summit, Modi said that the world has high hopes for BRICS because it’s seen as a more inclusive platform. Unlike Western-led organizations, BRICS brings together countries with different backgrounds, giving them all an equal say. He also stressed that the group needs to stand united, especially when it comes to combating terrorism. According to Modi, there can be no double standards on this issue, and the group should work together to stop terrorist financing and prevent the radicalization of youth.
Experts believe that BRICS has the potential to tackle global problems, especially economic uncertainty and conflicts, in a fair way. BRICS is different from groups like NATO or the G7, which have their roots in the Cold War or are focused on military power. Instead, BRICS represents a group of countries from the Global South—nations that often don’t get the same opportunities as those in the West. These countries face unique challenges, but they also have aspirations that need to be addressed in a democratic way. In other words, everyone in BRICS gets to participate equally.
The old way of doing things, where rich countries give aid to poorer ones but control how it’s used, is outdated. BRICS is about cooperation, not control. While one country might provide financial help, another could offer expertise, time, or resources. This creates a more balanced and fair system where everyone contributes in their own way. It’s an approach that allows BRICS to tackle the complex issues facing its member countries, from economic instability to development challenges.
Western countries often punish nations that don’t align with their political goals by imposing economic sanctions. We’ve seen this with countries like Iran, Russia, and Venezuela, where sanctions caused significant economic problems, not just for the targeted countries but also for their entire supply chains. This is where BRICS can step in. By developing alternative systems for trade and banking, BRICS could reduce the impact of Western sanctions. For example, countries within BRICS could trade in their national currencies rather than relying on the U.S. dollar or the SWIFT banking system, which the West controls.
These Western sanctions are a form of “economic terrorism” because they disrupt the economies of not just the sanctioned nations, but also other countries that have nothing to do with the conflict. BRICS could create mechanisms to bypass these sanctions, offering a lifeline to countries struggling under Western pressure.
BRICS will continue to promote peaceful solutions to conflicts, especially in Europe and West Asia. The group could expand in the future, welcoming more dialogue partners and even new full members, which would only increase its influence. The fight against terrorism is central to BRICS’ mission, and as the group grows, so will its ability to foster international cooperation.
Many developing countries are eager to see how BRICS can offer an alternative to the Western-dominated global order. These countries are frustrated with organizations like the World Bank and IMF, which they feel have not treated them as equals. BRICS, on the other hand, offers a platform based on fairness and equity, where every country’s voice is heard.
In the end, BRICS is positioning itself as a group that can challenge the global status quo. With its focus on cooperation, inclusivity, and fairness, it has the potential to reshape international relations and offer a new path for developing nations looking for a more just and equal world.
