Shafaqna Pakistan | by SA Shehzad- The BRICS Summit in Kazan, Russia, is poised to become a pivotal event in global realpolitik, marking a significant shift in the balance of power. The Kremlin is promoting the summit as a breakthrough for multilateralism, positioning BRICS as a counterbalance to Western dominance. This comes at a time when the West’s hegemony is increasingly under scrutiny, fueled by wars, the COVID-19 pandemic, and growing dissatisfaction with the global financial system.
Russian President Vladimir Putin is hosting key world leaders such as China’s Xi Jinping, India’s Narendra Modi, Turkey’s Recep Tayyip Erdogan, South Africa’s Cyril Ramaphosa, and Iran’s Masoud Pezeshkian. The presence of UN Secretary-General Antonio Guterres in Moscow underscores the gravity of the event, as it seeks to challenge the established Western-led order. The key agenda items at the three-day summit include developing a BRICS-led payment system to rival SWIFT and addressing the ongoing conflicts in the Middle East, particularly as the region experiences heightened tensions.
Putin’s efforts at the summit reflect Russia’s determination to demonstrate that it is not internationally isolated, despite the controversy surrounding its military actions in Ukraine, which continue to be a major concern for the USA and its allies. BRICS, which is expanding both in economic influence and demographic reach, now represents nearly half of the world’s population and controls 42% of global GDP. However, the group faces challenges, particularly the relatively low trade volumes among its member states. For BRICS to realize its full potential and offer a viable alternative to the G7 and Western financial systems, addressing these internal trade imbalances will be crucial.
The bloc’s future hinges on its ability to avoid becoming dominated by Moscow and Beijing, and instead emerge as a forum for consensus-driven policymaking. Should BRICS successfully tackle pressing global issues like climate change, poverty eradication, and the promotion of peace in conflict-ridden regions, it could significantly erode the West’s long-standing monopoly over international affairs and reshape the global order.
Source: Shafaqna Pakistan
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