The Emergence of BRICS, Despite Western Cynicism

 By David Starr

 

There was a report published in December 2024 by the Council on Foreign Relations (CFR) on the role and existence of BRICS, which is a new economic order. The acronym stands for the countries of Brazil, Russia, India, China and South Africa. Initially, the acronym was BRIC, where the first three countries were members and co-founders in 2009. South Africa was added to that in 2010. 

 

The CFR report was mild in its criticism of BRICS, but the overall tone of it was cynical and implied, using a “foregone” conclusion, that BRICS will not succeed. It portrayed BRICS in the context of a hopeless scenario. In the summary of the report, the CFR admits that, “The BRICS group has become a major political force in the last two decades, building on its desire to create a counterweight to Western influence in global institutions.” 

 

But then goes into cynical opinions, citing negative factors about the group. One of those opinions is that there’s major disagreements within the group, with the implication that the group will be tied down with arguments. “BRICS has struggled with internal divisions on a range of issues, including relations with the United States and Russia’s invasion of Ukraine. Meanwhile, its growing membership is both expanding and introducing new tensions.”

 

There is the premise that BRICS faces “potentially insurmountable challenges,” given the current world order is dominated by the West, in particular, the USA empire. True, whatever obstacles are in the way are tough to deal with, but the report is again implying that BRICS is a hopeless cause. “Growing membership brings new challenges, including increasing pushback from Western countries and divisions within the bloc.” While this is true, the world today is gradually changing, where the Global South has become more assertive.

 

The report details what goals BRICS has:

 

• Establishing emerging economy perspectives to compete in the world. That means It will seek to push for reform of existing institutions and organize negotiating blocs in those institutions. “For instance, many BRICS countries opposed the U.S.’s condemnation of Russia’s war in Ukraine and have sought common positions on the Iran nuclear program and conflicts in Afghanistan, Gaza, Libya, and Syria.”

 

• BRICS seeks to coordinate economic policy in the attempt to stave off booms and busts within the current world system to try and avoid recessions and depressions. “The 2008 global recession hit the BRICS countries hard, leading the group to emphasize economic coordination on issues such as tariff policy, export restrictions on critical resources, and investment.”

 

• To reduce relying on the U.S. dollar, which is the dominate currency today internationally. BRICS members are not happy with this, “which exposes them to Western sanctions.” BRICS members have favored dealing in local currencies or to create a BRICS currency.

 

• BRICS wants an alternative to the current finance system. Its New Development Bank (NDB) and Contingent Reserve Arrangement (CRA) may be similar to the World Bank and the International Monetary Fund, but within a multi-polar world, rather than a unipolar one. BRICS wants South-to-South cooperation since the current global financial system has maintained  gross inequality and poverty for many.

 

These goals may be possible if the current international situation is reformed, or done away altogether.

 

The NBD and the CRA have been created to counter the Bretton Woods system, which is the establishment’s global financial system created by the West after World War II. Many countries in the Global South conclude that the Bretton Woods system has failed them. UN Secretary-General Antonio Guterres is quoted: “This system was created by rich countries to benefit rich countries. Practically no African country was sitting at the table of the Bretton Woods Agreement.”

 

The report gets nitpicky again, claiming that experts doubt that the NDB could replace the World Bank. Further, “others” assert that the attempt to fully establish an alternative system has fallen short. But it’s still too early to tell, as the economic/financial struggles continue. The report also says that BRICS “has faced criticism for vague commitments and social impact standards.” Meanwhile, the West, especially the USA, appear to be declining; and many of its politicians are certifiably insane.

 

Admittedly, the CRF’s report does detail the intents of BRICS. But there’s an implication that these intents are doomed to failure. But this isn’t over. It’s not the end of history.

 

Brazil, currently the president of BRICS (for a one-year term), announced that new members are joining the group. They are Cuba, Bolivia, Belarus, Kazakhstan, Malaysia, Nigeria, Thailand, Uganda, and Uzbekistan. They are in what is called a partner country category, which means that they have lower status than full members but can participate in summits and other meetings. They should eventually be full members.

 

According to Brasil de Fato, “negotiations to expand the group to new partners began in 2023. At that year’s summit in South Africa, six more countries were approved for entry: Saudi Arabia, Egypt, the United Arab Emirates, Ethiopia, and Iran. Saudi Arabia has not yet officially accepted the invitation. Argentina was initially on the list but withdrew after Javier Milei [the current Argentine president], took office.”

 

Unfortunately, Argentina is under the rule of Milei, right now anyway. He’s a classic right-wing/ libertarian/anarcho-capitalist, and has done damage to the country, economically and otherwise. 

 

BRICS, according to the Voice of Vietnam, has “the aim of strengthening economic and political cooperation and integration of Southern Hemisphere countries,” which would help Argentina a great deal. Another country needing help is Cuba. Quoting from the Voice of Vietnam, “for Cuba, joining BRICS is an important opportunity to overcome the long-standing economic blockade imposed by the United States. According to Cuban President Miguel Diaz-Canel, “BRICS brings great hope to countries in the Southern Hemisphere in a fight for a more just and democratic international order.”

 

Cuba is a courageous and resilient country. For over 60 years, the U.S. empire has imposed the blockade, the main cause of Cuba’s hardships. But a video by Political Finance shows that Cuba will not be overcomeby what now can be overtly called a rogue nation.

 

Establishment sources like the Council of Foreign Relations do produce academic reports, however, it, like others in the establishment, will portray “enemies” as being failures. The establishment is now threatened by the current series of world events. It could get to a point where BRICS would overtake it.