BRICS Evolution And China’s Push

Context: 

Recently the Indian Prime Minister confirmed his visit to Johannesburg to attend the upcoming BRICS summit being hosted by South Africa on August 22-24, 2023.

About BRICS:

• Emerging Economies: The term was coined by British Economist Jim O’Neill, an economist at Goldman Sachs, in 2001, representing emerging economies of the world (Brazil, Russia, India and China).
• Formalized: The grouping was formalized during the first meeting of BRIC Foreign Ministers’ in 2006.
• BRIC to BRICS: With the  joining of South Africa in BRIC in December 2010, the group came to be known as BRICS.
  • BRICS formation during 2009-2010 aimed at emerging market economies’ cooperation. 
  • The governments of the BRICS states have met annually at formal summits since 2009.
• Pillars of Deliberations: Over a period of time, BRICS countries have come together to deliberate on important issues under the three pillars of:
  • Political and Security
  • Economic and Financial 
  • Cultural and People-to-People Exchanges

Further Expansion of the Group:

• Various Countries eager to join BRICS like:
  • Latin American: Argentina, Nicaragua, etc.
  • African: Nigeria, Algeria, Egypt, etc.
  • Asian: Saudi Arabia, the United Arab Emirates (UAE), Türkiye, Syria, Iran, etc.
    • China’s bid to expand BRICS membership sparks internal debates and reveals geopolitical gaps.

Why do various countries want to be a part of BRICS?

• High Share: In approximation, BRICS represents 41% of the world population, 24% of the world GDP and over 16% share in world trade, making it an attractive grouping for other countries.
• Geopolitical Shifting: The change in the geopolitical shifts in the world from the time of Russia’s invasion of Ukraine attracting countries to join this platform.

China’s Rise to Power: 

• From Developing to Dominating: 
  • Witness China’s incredible transformation from a developing nation to one of the world’s most powerful and influential players. 
• A New World Order: 
  • China’s increasingly unilateral behavior is shaking up the global order and challenging the norms of international cooperation. Explore the implications of this rising superpower. 

China’s Strategic Motives: 

• New Cold War: China-US tension intensifies and shapes global dynamics.
• BRICS Coalition: China aims to mold BRICS into a coalition opposing US-led policies. 
• Authoritarian Nations: Admitting authoritarian nations (Algeria, Egypt, Iran, etc.) to exert influence. 

India’s Concerns:

• Caution on Expansion: India is cautious about BRICS expansion favoring China’s dominance.
• Marginalizing Influence: China’s push risks marginalizing India’s BRICS influence. 
• Global South Voice: India’s role as the voice of the Global South is at stake. 

Brazil’s Reservations: 

• Hindering Ambitions: Brazil’s rising power ambitions hinder rapid BRICS expansion.
• Avoiding Anti-US Tool: Reluctance to use BRICS as a tool against the US.
• Dilution of Significance: Concerns about dilution of its significance within an enlarged group.

Efficiency vs. Inclusivity: 

• Decision-Making Inefficiency: Larger BRICS may lead to inefficiency in decision-making. 
• Crucial Balancing Act: Balancing inclusivity with practical deliverables is crucial. 
• India & Brazil’s Role: India and Brazil must avoid blocking deserving countries while maintaining efficiency. 

Conclusion: Despite facing internal tensions, BRICS has made significant contributions. With the probability of the expansion of the group, now the time has come to address internal imbalances, seize opportunities for growth, stay responsive to global dynamics and promote cooperation and integration of the Global South.  

News Source: The Hindu