This year's BRICS summit was held in Johannesburg / source: Unsplash.comOn 22-24 August, the 15th summit of the global BRICS group was held in South African Johannesburg. Meetings are held all year, but this seems groundbreaking. More than 1 country has been invited for the first time since the establishment of the organisation to the pact. According to the signatories, this is to be a way of opposing the West and expanding the importance of the countries of the global South and the East.
The first BRICS forum was held in 2009. It is named after the first letters of associate States, including Brazil, Russia, India, China and since 2011 South Africa. BRICS sets itself the main objectives of creating a fresh monetary system, expanding the function of developing countries in global institutions and reforming the UN. The main area of cooperation within BRICS is economical matters. Each country has a different economy to strengthen the group itself. Under the pact there is besides a RIC faction which represents the top military possible of the full group.
First specified extension
An unprecedented decision has been taken so far. Six fresh countries from forty were invited to join the organisation, which sought to join the group. These include Saudi Arabia, Argentina, Egypt, Ethiopia, Iran and the United arabian Emirates. What does it mean to include these countries in the organization? Above all, BRICS will be able to extend its influence very powerfully in the oil market. Both Saudi Arabia and the United arabian Emirates are the tycoons in extracting this natural material. It is so possible that associate States will gain fresh opportunities for distribution. Moreover, the Saudis are the United States' most crucial ally in the mediate East region. Their inclusion in BRICS is surely very pleased by China, who have been trying to break the American domination of this territory for many years. It is besides crucial to join Iran, which has been restricted by US and UN regulations for years, mainly related to the usage and production of atomic bombs. For the muslim republic, therefore, there is an chance to gain greater independency with the aid of the countries of the global South.
However, the extension of the pact did not go without gnawing. Russia, which needs allies in the war with Ukraine and is looking for ways to circumvent sanctions, sought to add fresh countries. China hoped to support its rivalry with the US. Brazil, on the another hand, expressed a more restrained opinion, fearing losing its influence in and outside the region. She looked at her neighbour Argentina the most. India besides called for concrete rules and consensus to be reached to extend BRICS.
Beijing in the lead
Undoubtedly, you have benefited most from expanding the alliance. China is already a player in many activities in the Global South. Commitment to conflicts in Yemen and Sudan and readiness to mediate between Russia and Ukraine are only any of the initiatives of this Asian country. Ethiopia, which has late waged a civilian war in the Tigray region, may be another point of attraction for China. Its financial start can cover Beijing in cooperation with Dubai, which was even straight active in armed actions. Ethiopia besides negotiates a debt package from the global Monetary Fund, and BRICS support can improve its listing. In addition to meetings with permanent partners, the president of the People's Republic of China met with Cuba's president Miguel Diaz-Canel in Johannesburg. This is another blow to the Washington administration, which is inactive losing in the conflict to improve its relation with Havana. China promises to support Cubans in the conflict with "foreign interference in the sovereignty of the country".
Loss of assurance in the West
Experts point out that the expansion of BRICS is the consequence of a gradual failure of assurance in Western countries in the countries of the Global South. The Head of the European Investment Bank, Werner Hoyer, warns that if the United States and the European Union do not diversify their efforts to support poorer countries, this could lead to the departure of more confederate countries to organisations specified as BRICS or to the collapse of the dollar as a currency prevailing in planet trade. It's been discussed at the last summit. Vladimir Putin pointed out that "the process of de-dollarisation is already underway", and South Africa's president, Cyril Ramaphos, said that "there must be discussions on this subject, especially among our finance ministers." BRICS besides expressed concern about the activities of UN Secretary-General, António Guterres:
– Today's global governance structures reflect yesterday's world. They formed mostly after planet War II, erstwhile many African countries continued to regulation colonial powers. These countries were not allowed to have a conversation table," comments the Portuguese. In addition, the summit besides featured the subject of a single single currency for all BRICS members, although it was not included in the authoritative agenda. This concept was peculiarly pushed by the president of Brazil, Lula da Silva, and despite the first reluctance of his partners, he managed to do something about it – a small over 2 weeks after the summit in South Africa, the manager of the abroad Affairs Department of Russia said in tv BRICS, as quoted by TASS, that it is certain that yet the common currency will become a reality, although the road to this goal is neither fast nor easy. The issue besides seems to be which currency would become the dominant one. Rubel, yuan or rupee. All states have their arguments on this.
The Real Power of Numbers
If you look at the statistic of the expanded BRICS group, this is very impressive. The group presently includes 46% of the world's population, 29% of local GDP, 43% of oil production and 25% of global exports.
– Let us work together to compose a fresh chapter of solidarity and improvement cooperation between emerging markets and developing countries," said China's president Xi Jinping at the Johannesburg Summit. It should be noted how powerful national economies are within BRICS. China is the world's first economy, given its purchasing power, India is slow approaching 4th place. Russia is the world's largest surface country, Brazil's largest Latin American economy, and South Africa's richest Black Land country.
BRICS and the war in Ukraine
At the Johannesburg summit there was no shortage of war in Ukraine. Interestingly, Vladimir Putin attended the gathering remotely, as South Africa respects the conviction of the global Criminal Court, which issued a BOLO for the Russian president a fewer months ago for bringing Ukrainian children to Russia. Putin, as usual, accused of conflict in Ukraine of the West, speaking of an unlawful coup: – First with the aid of Western countries, an unconstitutional coup was carried out in that country [in Ukraine], and then a war was waged against people who disagreed with the coup," stated the president of Russia. Representatives of the BRICS countries have only expressed their support for actions aimed at ending the conflict beyond our east border as shortly as possible.
The expansion of an organisation specified as BRICS shows that in the coming years we will face increased polarisation between the West and the countries of the East and the South. BRICS should have a large impact on the rules in our world. Time will tell you who will pull the line of dominance to their side.
Mr Filip STACHOWIC
