Shafaqna Pakistan | by SA Shehzad- The Kazan BRICS summit marks a potential turning point in global geopolitics, as the bloc aims to challenge the Western-dominated world order by articulating a unified vision for a multipolar global landscape. Originally composed of Brazil, Russia, India, China, and South Africa, BRICS has recently expanded by inviting new members such as Egypt, Ethiopia, Iran, and the UAE. This enlargement comes amid growing geopolitical competition between the West and major powers like Russia and China, signaling BRICS’s evolving role in promoting an alternative world order.
Since its inception, BRICS has served as a platform for emerging economies dissatisfied with Western-led governance structures. With nearly 40 percent of the world’s population and a quarter of global GDP, the bloc holds substantial weight on issues like economic growth, climate change, and multilateral cooperation. The recent expansion now adds new dimensions to BRICS’s influence, particularly in energy and trade, strengthening its collective voice.
The Kazan summit is focused on advancing a multipolar world order, intending to reduce Western influence—especially that of the USA and the dollar-based financial system. BRICS aims to increase the use of local currencies in trade and seeks reforms in global institutions. The New Development Bank (NDB), established by BRICS in 2015 as an alternative to the World Bank, is an example of the bloc’s attempt to offer non-Western financing models. However, the NDB’s resources remain limited compared to traditional institutions, illustrating the challenges BRICS faces in establishing a competitive financial framework.
A prominent theme at the Kazan summit was reforming institutions like the United Nations (UN), World Trade Organization (WTO), and International Monetary Fund (IMF). BRICS countries argue that these bodies, created under Western influence, do not reflect the current global power balance and advocate for an inclusive system that amplifies the voices of developing nations.
Key BRICS members Russia and China are particularly interested in moving away from reliance on the dollar, a priority as they face Western sanctions and isolation. Iran’s inclusion underscores the bloc’s identity as a counterbalance to USA’s influence, especially in energy markets, where the UAE’s and Iran’s presence may enable BRICS to challenge the dollar’s dominance in oil transactions.
However, internal differences persist. While Russia and China are more inclined toward an anti-Western stance, countries like India, Brazil, and South Africa take a more balanced approach. These nations, with significant trade ties to both Western economies and BRICS members, view the bloc as a means to amplify their influence without necessarily opposing the West. India, for instance, values its economic partnerships with the USA and Europe and leverages BRICS to advance its interests while maintaining diplomatic flexibility.
Energy has been a focal point, particularly with the addition of major oil producers like Iran and the UAE. BRICS’s combined influence in global energy markets could enable it to bypass the dollar for certain transactions, aligning with Russia and China’s strategic interests in reducing dependency on Western financial systems. Yet, dethroning the dollar will be challenging, given its entrenchment in global reserves and transactions.
For Global South members like Brazil, India, and South Africa, BRICS is an opportunity to increase their voices in global forums without severing ties with Western economies. This pragmatic approach allows them to navigate shifting alliances without choosing sides in a potential Cold War between the U.S. and China. Meanwhile, Russia and China see BRICS as a counterbalance to USA’s influence, especially in light of sanctions and geopolitical isolation, with Russia viewing the bloc as a tool for asserting its relevance in global affairs.
A key takeaway from Kazan is BRICS’s recognition of the need for a cooperative, multilateral system capable of addressing 21st-century challenges, from climate change to global health crises. In a world facing complex and interconnected problems, the BRICS emphasis on multilateralism and inclusivity presents an alternative to a West-dominated order.
Ultimately, BRICS’s influence in energy markets and global governance reform represents a shift in power dynamics. Should it succeed in presenting a united front, the bloc could reshape the global order. The world now watches to see if BRICS can turn its vision of an alternative world order into reality.
Source: Shafqna Pakistan
Note: Shafaqna do not endorse the views expressed in the article