BRICS Expansion Sparks Global Interest and Geopolitical Shifts

BRICS leaders pose at the 10th annual BRICS Summit.

Nearly 30 countries are seeking admission to BRICS, a coalition promoting growth between the economies of Brazil, Russia, India, China, and South Africa, reported CNN as of January 31. Considering the potential growth of Brazil, Russia, India, and China in 2009, then-chief economist Jim O'Neill of Goldman Sachs coined the acronym BRIC, initially excluding South Africa. The bloc was established by Russia to provide a forum to oppose a Western-dominated global order. However, unlike the World Bank, the UN, or the Organization of the Petroleum Exporting Countries, BRICS is not a recognized multilateral organization, says Reuters. Every year, the heads of state of participating countries meet and rotate chairmanship for the group. With the organization’s recent growth, wrote BBC, the total civilian population under BRICS’ jurisdiction approaches 3.5 billion. The members' economies collectively represent over $28.5 trillion, around 28 percent of the world's GDP.

According to South African Foreign Minister Naledi Pandor, 34 countries hope to join BRICS. BRICS’ growth has been largely fueled by Chinese President Xi Jinping, who seeks to promote an alternative global order. Beijing has strengthened the international organizations it controls and forged closer ties with major international players, including Russia and the Middle East. 

Russia, facing economic and diplomatic isolation from the West after its invasion of Ukraine, also benefits from BRICS’ expansion, reported CNN. Moscow’s leadership marks a crucial opportunity for President Vladimir Putin. When world leaders travel to Moscow for this year’s summit, Putin will have the opportunity to push back against Western exclusion and portray himself as a key diplomatic player.

To combat the U.S. dollar’s dominance, reports the Chronicle, prominent Russian and Brazilian officials have proposed a BRICS currency. At the 2023 summit, Egypt was one of five countries to accept an invitation to join BRICS. Egypt has already switched to local currency and aims to phase out U.S. dollars, another manifestation of BRICS de-dollarization. The 2023 BRICS expansion marked the alliance's first growth since 2001. Now Ethiopia, the United Arab Emirates, Iran, and Saudi Arabia are also anticipated to join.

Within China-Russia relations, Russia has taken a subservient role while simultaneously supporting China's interests. Should China attack Taiwan, it may use Russia's invasion of Ukraine as justification. Both China and Russia spread the narrative of Western aggression and overreach. Through BRICS, the two nations form a united front against Western influence and strengthen their narrative of shared resistance, potentially reshaping the geopolitical landscape in their favor.