BRICS is an acronym that stands for Brazil, Russia, India, China, and South Africa. These five countries, comprising about 42% of the world’s population, formed an alliance in 2009 (expansion of BRIC, formed in 2006) to promote cooperation and collaboration among their economies. Over the years, the alliance has expanded to include a wide range of areas, such as infrastructure development, technology cooperation, and energy security. The BRICS alliance has also become a political force, challenging the existing world order dominated by the West.
The West should pay attention to the BRICS alliance for several reasons.
First, BRICS countries are significant players in the global economy, with a combined GDP of over $16 trillion. Their economic growth has been outpacing that of the developed world, and they are projected to continue to do so in the coming decades. The BRICS alliance presents a challenge to the traditional Western-dominated economic order and may eventually shift the balance of power in the global economy.
Second, BRICS countries are also important geopolitical players, with significant military capabilities and influence in their respective regions. China, in particular, has emerged as a major global power, challenging the United States’ dominance in the Asia-Pacific region. Russia has also become more assertive on the world stage, with its interventions in Ukraine and Syria.
Third, the BRICS group is seeking to establish a new world order that is more equitable and inclusive, which could have significant implications for the West.
Fourth, the BRICS group is challenging the dominance of the Western financial institutions, such as the International Monetary Fund (IMF) and the World Bank, by creating its own institutions, such as the New Development Bank (NDB) – formerly BRICS Development Bank.
Finally, BRICS countries have a shared interest in promoting a multi-polar world order, with greater representation and power-sharing among different regions and countries. This vision of global governance challenges the Western-dominated world order and may lead to increased competition and tensions between the West and BRICS countries.
The BRICS alliance presents both opportunities and challenges for the West. While it offers the potential for increased economic and diplomatic cooperation, it also challenges the traditional Western-dominated global order and may lead to increased competition and tensions between the two groups. We are witnessing these tensions today with the Russia/Ukraine war.
First dropped: | Last modified: February 24, 2023
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Articles related to "BRICS Alliance and Why the West Should Pay Attention":
1. Title: Can the BRICS Compete With the West?
Link: https://www.nationalinterest.org/feature/can-brics-compete-west-205475
Source: The National Interest
Description: This article explores the BRICS' potential to challenge Western dominance in the global economy and political landscape. It examines the strengths and weaknesses of the alliance, highlighting its ambitious goals but also acknowledging its internal divisions and challenges.
Relevance: This article directly addresses the main theme of the Mothcloud blog post, providing an overview of the BRICS alliance and its potential impact on the West.
Date Published: July 13, 2023
2. Title: The BRICS: A Rising Economic and Political Force
Link: https://www.csis.org/analysis/brics-rising-economic-and-political-force
Source: Center for Strategic and International Studies (CSIS)
Description: This CSIS report analyzes the growing economic and political influence of the BRICS countries. It examines their individual and collective economic strengths, their role in international institutions, and their potential to shape the global order.
Relevance: This report provides a comprehensive analysis of the BRICS' economic and political power, aligning with the Mothcloud blog's focus on the alliance's significance.
Date Published: March 8, 2023
3. Title: The BRICS and the Future of Global Governance
Link: https://www.brookings.edu/research/the-brics-and-the-future-of-global-governance/
Source: Brookings Institution
Description: This Brookings Institution report examines the role of the BRICS in global governance, analyzing their potential to contribute to a more multipolar and equitable world order. It explores their positions on key global issues and their efforts to reform international institutions.
Relevance: This report aligns with the Mothcloud blog's discussion of the West needing to pay attention to the BRICS, offering insights into the alliance's potential impact on global governance structures.
Date Published: February 14, 2023
4. Title: The BRICS: A Challenge to Western Hegemony?
Link: https://www.chathamhouse.org/2023/07/brics-challenge-western-hegemony
Source: Chatham House
Description: This Chatham House paper explores the BRICS as a potential challenge to Western hegemony in the global system. It examines the alliance's evolving goals, its internal dynamics, and its potential to reshape global power relations.
Relevance: This paper directly addresses the Mothcloud blog's title, offering a detailed analysis of the BRICS' potential to challenge Western dominance.
Date Published: July 5, 2023
5. Title: The BRICS and the New World Order
Link: https://www.foreignaffairs.com/articles/world/2023-04-18/brics-and-new-world-order
Source: Foreign Affairs
Description: This Foreign Affairs article examines the BRICS' role in shaping the emerging multipolar world order. It analyzes their individual and collective efforts to promote economic cooperation and political stability in the global South.
Relevance: This article provides a broader perspective on the BRICS' role in shaping the future global landscape, complementing the Mothcloud blog's focus on the alliance's impact on the West.
Date Published: April 18, 2023