https://it.wikipedia.org/wiki/BRICS
https://www.geopop.it/i-brics-si-allargano-chi-sono-i-cinque-nuovi-paesi-membri-e-quali-sono-i-loro-obiettivi/
not Argentina and not Saudi Arabia, at least for the moment.
https://www.google.com/search?q=saudi+arabia+hasnt+joined+BRICS&oq=saudi+arabia+hasnt+joined+BRICS&gs_lcrp=EgZjaHJvbWUyBggAEEUYOTIICAEQABgNGB4yCggCEAAYCBgNGB4yCggDEAAYCBgNGB4yCggEEAAYgAQYogQyCggFEAAYgAQYogTSAQoyNzQyMGowajE1qAIIsAIB&sourceid=chrome&ie=UTF-8#fpstate=ive&vld=cid:e76f2ce1,vid:JQVE1p6e1Iw,st:0 Saudi Arabia stays out but welcomes greater
cooperation
https://www.arabnews.com/node/2576648/saudi-arabia
https://amwaj.media/article/deep-dive-saudi-arabia-and-brics-a-balancing-act
https://www.ispionline.it/it/pubblicazione/se-un-brics-non-fa-primavera-143447
https://www.claws.in/brics-vs-g7-can-they-truly-be-compared/
perhaps
the basis for an essay
also
good https://carnegieendowment.org/research/2024/10/brics-summit-emerging-middle-powers-g7-g20?lang=en
https://www.bcg.com/publications/2024/brics-enlargement-and-shifting-world-order
This is a good summary of the positive aspects of the BRICS+ group, although it
needs to be balanced by a more critical analysis.
and
remember https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)_per_capita
more
information
https://www.europarl.europa.eu/RegData/etudes/BRIE/2024/760368/EPRS_BRI(2024)760368_EN.pdf
https://www.statista.com/chart/33311/brics-share-of-global-gdp-and-population/
the
2024 BRICS+ Summit and Russia’s stance
https://www.france24.com/en/europe/20241022-putin-economic-western-brics-summit
https://brics-russia2024.ru/en/
https://brics-russia2024.ru/en/russia-and-brics/priorities/
!
2024
https://valdaiclub.com/a/highlights/brics-expansion-and-the-political-positions/
https://www.cfr.org/backgrounder/what-brics-group-and-why-it-expanding
https://academic.oup.com/book/32424/chapter-abstract/268741406?redirectedFrom=fulltext
https://www.europarl.europa.eu/RegData/etudes/BRIE/2024/760368/EPRS_BRI(2024)760368_EN.pdf
https://www.bcg.com/publications/2024/brics-enlargement-and-shifting-world-order
This is a good summary of the positive aspects of the BRICS+ group, although it
needs to be balanced by a more critical analysis.
https://www.fpri.org/article/2024/09/the-brics-challenge-to-the-g7-established-international-order/ growing threat?
but https://responsiblestatecraft.org/brics-expansion/
https://thediplomat.com/2024/07/an-expanding-brics-seeks-to-reform-not-replace-the-global-order/
https://www.visualcapitalist.com/economic-growth-forecasts-for-g7-and-brics-countries-in-2024/
https://www.statista.com/statistics/254281/gdp-of-the-bric-countries/
Some points made at the SIOI
conference, 15 December 2023,‘The BRICS and multilateralism’:Intra-BRICS trade is still relatively low, although
they all do a lot of trade with China.
FDIs towards the BRICS are mainly from the West and China.
De-dollarization
(in favour of a new reserve currency, or the Chinese currency or trading mainly
in the currencies of the group) would make them less open to Western sanctions,
fluctuations in the value of the dollar and changes in the interest rate on
their public debts. However, it hasn’t happened yet and seems unlikely. Most
trade in a reserve currency is still in dollars with a slight growth in trade
in the Euro.
There’s a need to change the voting rights quotas at the IMF.
The New Development Bank is not as powerful as the IMF and mainly deals with
economic programs between the members rather than with the poor countries of
the Global South.
The BRICS still have no real institutional structure as an international
organization or founding treaty but regular meetings and cooperation in many
fields.
Is there a kind of irreversible competition or a decoupling (or a new Cold War)
between the BRICS and the G7 (the West/G7+)? Not really, this division was real
in the Cold War, not now. There’s an interdependence in economic terms and in
many others.
So do the BRICS represent a new order or disorder or a fragmentation of the
existing international order? Can the BRICS+ help to reverse this fragmentation
or will they accelerate it?
The main historic change in GDP terms is China’s economic expansion and to some
extent India’s, not that of the others. In PPP terms, however, the total GDP of
the BRICS+ as a percentage of global GDP PPP is now significantly larger than
that of the G7, so the economic institutions need to be reformed to reflect
this.
https://www.statista.com/statistics/1412425/gdp-ppp-share-world-gdp-g7-brics/#:~:text=The%20BRICS%20countries%20overtook%20the,held%20by%20the%20G7%20countries.
but in nominal GDP terms
https://www.visualcapitalist.com/charted-comparing-the-gdp-of-brics-and-the-g7-countries/
2023
https://www.kas.de/en/brics-plus
https://www.africanews.com/2024/01/02/brics-expansion-five-countries-join-ranks/#:~:text=Saudia%20Arabia%2C%20Egypt%2C%20the%20United,summit%20in%20Johannesburg%2C%20South%20Africa.
https://www.cfr.org/councilofcouncils/global-memos/brics-summit-2023-seeking-alternate-world-order
https://thediplomat.com/2023/10/no-one-knows-what-brics-expansion-means/
https://www.internationalaffairs.org.au/australianoutlook/brics-summit-2023-major-outcomes-and-relevance/
https://www.internationalaffairs.org.au/australianoutlook/brics-summit-2023-major-outcomes-and-relevance/#:~:text=First%20is%20the%20decision%20on,BRICS%20from%201%20January%2C%202024.
https://www.aljazeera.com/features/2023/8/22/can-brics-create-a-new-world-order
https://www.reuters.com/world/brics-leaders-meet-south-africa-bloc-weighs-expansion-2023-08-22/
https://www.stimson.org/2023/the-future-of-brics-between-objectives-and-challenges/
https://www.theguardian.com/business/2023/aug/24/five-brics-nations-announce-admission-of-six-new-countries-to-bloc
https://www.theguardian.com/commentisfree/2023/aug/28/the-guardian-view-on-brics-demand-for-membership-is-a-symptom-of-global-disorder
https://www.eastasiaforum.org/2023/10/07/laying-the-brics-for-a-reshaped-global-order/
https://www.stimson.org/2023/the-future-of-brics-between-objectives-and-challenges/
Last BRICS
summit declarations
https://brics2023.gov.za/wp-content/uploads/2023/08/Jhb-II-Declaration-24-August-2023-1.pdf
http://brics2022.mfa.gov.cn/eng/hywj/ODS/202207/t20220705_10715631.html
China and Africa
https://www.imf.org/en/News/Articles/2023/11/09/cf-chinas-slowing-economy-will-hit-sub-saharan-africas-growth
file:///C:/Users/Pc/Downloads/china-note1%20(1).pdf
India and Africa
https://africacenter.org/spotlight/africa-india-cooperation-benchmark-partnership/#:~:text=India%2DAfrica%20trade%20has%20grown,the%20European%20Union%20and%20China.
https://www.ecofinagency.com/public-management/1611-45052-india-africa-trade-up-9-yoy-in-fy-2022/2023-to-98bn
https://ris.org.in/newsletter/RIS%20Latest%20Publications/2023/art-4.pdf
The old BRICS economies
https://thedocs.worldbank.org/en/doc/e408a7e21ba62d843bdd90dc37e61b57-0500032021/related/mpo-bra.pdf
https://thedocs.worldbank.org/en/doc/661f109500bf58fa36a4a46eeace6786-0050012024/related/GEP-Jan-2024-Analysis-SSA.pdf
(Growth
in South Africa is projected to firm to a still-subdued 1.3 percent in 2024 and then edge up to 1.5 percent in 2025).
BRICS cooperation
https://carnegieendowment.org/research/2024/10/brics-summit-emerging-middle-powers-g7-g20?lang=en good balanced view
https://www.cfr.org/article/china-russia-relations-september-2024
https://www.chathamhouse.org/2024/10/india-russia-relations
https://www.cfr.org/article/china-latin-america-september-2024
https://english.www.gov.cn/news/202410/18/content_WS67126932c6d0868f4e8ec11a.html
https://www.cfr.org/article/china-africa-september-2024
Voting at the
UN
https://valdaiclub.com/a/highlights/brics-expansion-as-non-west-consolidation/
https://saiia.org.za/research/a-global-rebalance/
The New Development Bank
https://www.reuters.com/world/algeria-authorised-join-brics-bloc-2024-08-31/
https://www.ndb.int/event/ndb-at-the-15th-brics-summit/#:~:text=In%20August%202023%2C%20the%20New,Sustainable%20Development%20and%20Inclusive%20Multilateralism%E2%80%9D.
Disputes and tensions
https://carnegieendowment.org/research/2024/10/brics-summit-emerging-middle-powers-g7-g20?lang=en good balanced
view
https://responsiblestatecraft.org/brics-expansion/
https://www.bbc.com/news/world-asia-53062484
https://www.usip.org/publications/2023/10/three-things-know-about-china-india-tensions
https://www.crisisgroup.org/asia/south-asia/india-china/334-thin-ice-himalayas-handling-india-china-border-dispute
https://www.aljazeera.com/news/2023/8/30/india-lodges-protest-with-china-over-map-claiming-border-territory
An alternative world order?
https://www.iris-france.org/186913-brics-towards-a-new-international-order/
https://carnegieendowment.org/research/2024/10/brics-summit-emerging-middle-powers-g7-g20?lang=en
https://www.theatlantic.com/international/archive/2022/07/china-xi-jinping-global-security-initiative/670504/
https://www.theguardian.com/business/2023/aug/22/putin-brics-summit-south-africa-trade
How they vote at the UN
https://saiia.org.za/research/a-global-rebalance/
The influence of China and Russia in Africa
https://africacenter.org/spotlight/china-united-front-africa/
https://www.voanews.com/a/south-africa-criticized-for-abstaining-on-un-ukraine-resolution/6468748.html
Human rights
https://www.amnesty.org/en/location/asia-and-the-pacific/east-asia/china/report-china/
https://www.amnesty.org/en/location/europe-and-central-asia/eastern-europe-and-central-asia/russia/
https://www.amnesty.org/en/location/africa/southern-africa/south-africa/
https://www.amnesty.org/en/location/asia-and-the-pacific/south-asia/india/report-india/
https://www.amnesty.org/en/location/americas/south-america/brazil/
BRICS and economic development
https://en.wikipedia.org/wiki/New_Development_Bank
https://www.ndb.int/
https://mg.co.za/thought-leader/2024-06-27-alternative-payment-systems-in-africa-and-brics-member-states-can-shift-geoeconomic-dynamics/
https://www.bcg.com/publications/2024/brics-enlargement-and-shifting-world-order
https://sdg.iisd.org/news/brics-countries-expand-partnership-for-sustainable-development/
what they say
https://www.globaltimes.cn/page/202410/1321575.shtml
what they say
https://www.europarl.europa.eu/RegData/etudes/BRIE/2024/760368/EPRS_BRI(2024)760368_EN.pdf
https://www.bcg.com/publications/2024/brics-enlargement-and-shifting-world-order
The existing
world order
The Bretton Woods Conference of 1944 created the basis for a cooperative global
economic system to stabilize the world economy, a system which soon included
the United States, Canada, Western European countries, Japan and Australia and
later many other states (see the World Bank and the
International Monetary Fund (IMF), and the World Trade Organisation (WTO) which
was created later in the early 1990s). It expanded to include
Eastern European members of the former Communist bloc after the end of the Cold
War and the economic change of direction in China. In parallel, the United
Nations, created in 1945, was, and is, a second attempt at the Wilsonian vision
of a rule-based international political order able to prevent or rapidly
resolve international conflicts of the kind that led to the two world wars. The UN is also committed
to the protection and promotion of human rights.
Some questions
to consider:
Do the BRICS countries intend to challenge the existing world order?
Do the BRICS intend to undermine, subvert or take control of this
economic/political order?
Or do they want to create a parallel alternative to it or simply to play a
greater role within it?
Do they see the world order as too dominated by the US, the dollar as the
main exchange currency, and its political or military allies?
Do they want a more multipolar system? A less Western-values-based order? Would
this legitimize autocracy? Or a system where state sovereignty is paramount?
Do they share objectives as a group or does each of them have its own goals,
only cooperating when it is to its advantage?
Will its expansion to include other resource rich countries give them the means
to steer the international order?
Does the group represent a threat to human rights? What do the BRICS mean
by human rights?
What evidence can you offer in responding to these questions?
Lots of old background
now – you probably won’t have time to read al this and don’t need to unless you
want to. Maybe just look at the ‘some conclusions (2022)’
section.
Earlier material relating to the
BRICS up to 2021
https://thediplomat.com/2020/11/why-the-brics-grouping-is-here-to-stay/
https://www.trtworld.com/magazine/brics-20-years-on-a-success-or-failure-52410
https://www.gfmag.com/topics/blogs/ukraine-war-hits-brics
https://foreignpolicy.com/2021/09/27/brics-members-summit-brazil-russia-india-china-south-africa/
https://www.washingtonpost.com/politics/2022/03/25/russia-brics-silence-on-ukraine/
http://globalsherpa.org/bric-countries-brics/
https://www.business-standard.com/article/international/brics-countries-support-russia-ukraine-talks-for-comprehensive-solution-122041400151_1.html
https://www.theguardian.com/world/2022/mar/16/how-close-are-china-and-russia-and-where-does-beijing-stand-on-ukraine
https://www.fmprc.gov.cn/eng/wjbxw/202204/t20220414_10667990.html
China and Russia https://www.bbc.com/news/60571253
https://www.ispionline.it/it/pubblicazione/should-china-mediate-russia-ukraine-war-33995
https://www.youtube.com/watch?v=qR-EFqDh5Oc
https://www.france24.com/en/video/20220315-russia-s-war-on-ukraine-events-on-the-ground-put-china-in-a-very-difficult-situation
South Africa and Russia https://theconversation.com/russias-war-in-ukraine-how-south-africa-blew-its-chance-as-a-credible-mediator-181101
https://www.reuters.com/world/africa/safricas-ramaphosa-blames-nato-russias-war-ukraine-2022-03-17/
India and Russia https://thediplomat.com/2022/04/why-india-has-been-soft-on-russia-over-ukraine/
https://www.aljazeera.com/economy/2022/3/31/india-russia-explore-a-rupee-rouble-payment-scheme-to-bypass-war
https://www.bbc.com/news/world-asia-india-60552273
https://www.theguardian.com/world/2022/mar/27/indians-reluctant-to-denounce-russian-brothers-over-ukraine
https://www.cnbc.com/2022/04/14/after-buying-russias-discounted-oil-india-looks-to-buy-its-coal.html
https://www.youtube.com/watch?v=joleQTFv0T8
Brazil and Russia
https://www.reuters.com/world/bolsonaro-wont-condemn-putin-says-brazil-will-remain-neutral-over-invasion-2022-02-27/
Some good summaries, information and background about the group:
https://www.lowyinstitute.org/the-interpreter/twenty-years-brics
https://www.statista.com/topics/1393/bric-countries/#topicHeader__wrapper
https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/covid-19-magnifies-brics-divergence-as-china-solidifies-lead-61053247
https://www.ispionline.it/en/pubblicazione/brazilian-elections-and-future-brics-21347
https://www.ispionline.it/it/tag/brics
https://www.ispionline.it/it/pubblicazione/dopo-lucraina-una-nuova-bretton-woods-monetaria-34195
https://idpjournal.biomedcentral.com/articles/10.1186/s40249-021-00881-w#:~:text=In%20BRICS%20countries%2C%20daily%20new,respond%20to%20public%20health%20emergencies.
https://english.news.cn/20220414/d55649c109554d0589561068817ffc38/c.html
https://www.statista.com/statistics/741745/gross-domestic-product-gdp-per-capita-in-the-bric-countries/
https://worldpopulationreview.com/country-rankings/bric-countries
https://economictimes.indiatimes.com/news/india/china-says-arunachal-pradesh-part-of-it-since-ancient-times/articleshow/88618947.cms
https://timesofindia.indiatimes.com/india/12th-brics-summit-to-be-held-virtually-all-you-need-to-know/articleshow/79258024.cms
https://economictimes.indiatimes.com/blogs/et-commentary/covid-19-exposes-deficiencies-of-brics/ https://www.dw.com/en/have-the-brics-hit-a-wall/a-51182058
http://time.com/4923837/brics-summit-xiamen-mixed-fortunes/ https://www.euronews.com/2019/11/13/what-s-brics-for-and-does-it-still-make-sense-euronews-answers
https://www.oliverstuenkel.com/2018/07/29/johannesburg-declaration-analysis/
https://www.silkroadbriefing.com/news/2019/11/15/brics-2019-summit-declaration-free-trade-agreement-horizon/
https://countryeconomy.com/countries/groups/brics
The BRICS (2010) is an international
political association of leading emerging economies, arising out of the inclusion of South Africa in the BRIC group (existing from June 2009). As of 2022, its five members
are Brazil, Russia, India, China and South Africa. With the (partial) exception of Russia, the BRICS are all developing or newly industrialized countries (often called ‘emerging markets’ or ‘emerging
economies’, although at this point China, for example, has clearly emerged!) with very high growth rates between
the end of the 1990s and 2010. They have large and till recently fast-growing
economies and significant influence on regional and global affairs. The five
BRICS countries represent 26.7 % of the world’s land area. As of 2021 they
represented 40% of its population (3.23 billion, but mainly China and India)
https://www.statista.com/statistics/254205/total-population-of-the-bric-countries/#:~:text=In%202021%2C%20it%20is%20estimated,percent%20of%20the%20world%20population.
https://journals.sagepub.com/doi/full/10.1177/09749101211067096
https://en.wikipedia.org/wiki/BRICS
http://www.worldometers.info/world-population/population-by-country/
They accounted for 24
per cent of nominal global gross domestic product and 16 per cent of global
trade (based on World Bank data (2019)
https://brics2021.gov.in/about-brics#:~:text=BRICS%20is%20an%20important%20grouping,share%20in%20the%20world%20trade*.
https://www.business-standard.com/article/current-affairs/brics-a-powerful-voice-of-developing-nations-must-become-even-stronger-pm-121090901259_1.html
https://www.ilo.org/global/about-the-ilo/how-the-ilo-works/multilateral-system/brics/lang--en/index.htm
https://www.tandfonline.com/doi/full/10.1080/13600818.2022.2033191
https://apps.who.int/iris/bitstream/handle/10665/255800/WHO-CCU-17.05-eng.pdf;sequence=1
and were estimated to provide 45% of its
workforce in 2017. In 2015 they also accounted for around 55% of the output of
emerging and developing economies. They are members of the
G20,The
combined GDP of BRICS countries as
a percentage of global GDP almost tripled from 7.9% in
1990 to 22.3% in 2015, now 24%.
https://www.google.com/search?q=intra+brics+trade+as+percentage+2023&rlz=1C1PRFI_enIT908IT908&ei=HA0DZPrdNYiOxc8Ph_Kr6AQ&ved=0ahUKEwj629f2-MH9AhUIR_EDHQf5Ck0Q4dUDCA8&oq=intra+brics+trade+as+percentage+2023&gs_lcp=Cgxnd3Mtd2l6LXNlcnAQDDIFCAAQogQ6CggAEEcQ1gQQsAM6CAghEKABEMMESgQIQRgAUIIGWLELYJQaaAFwAXgAgAGWAYgB-QGSAQMxLjGYAQCgAQHIAQjAAQE&sclient=gws-wiz-serp
The BRICS accounted, on average, for 56%
of the growth of global GNP (at 2005 $PPP) during 2008-17. Moreover, intra-BRICS trade flows have risen rapidly to
perhaps 40% of the global trade in goods
https://www.bcg.com/publications/2024/brics-enlargement-and-shifting-world-order
https://pib.gov.in/Pressreleaseshare.aspx?PRID=1594938
https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal) https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP) https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)_per_capita https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_per_capita https://en.wikipedia.org/wiki/BRICS
Their economies are said to be
complementary rather than just similar, since China and India are industrial
and service producers, while Russia and Brazil are major energy and raw
materials suppliers. Russia is also a major grain exporter. However, economic
complementarity is limited by the low level of intra-BRICS trade mentioned
above. Clearly their percentage of global GDP is likely to continue to grow in
the long term, although other developing countries may achieve even faster
growth rates. The BRICS group may expand its membership in response to this.
https://www.worldfinance.com/strategy/failure-to-welcome-new-members-could-render-the-brics-association-irrelevant-heres-why (very
good)
https://www.worldfinance.com/strategy/failure-to-welcome-new-members-could-render-the-brics-association-irrelevant-heres-why (very
good)
As we have seen, given their enormous populations the BRICS have
relatively low average per capita income (particularly India) with large
numbers of people still living in poverty.
According to OECD figures, with easy credit, rising commodity prices and
favorable demographics (i.e. cheap labor) the BRIC(S) economies grew at a rapid
pace from 2001 to 2010. In 2010, while central banks in developed markets were
printing cash and lowering interest rates to breathe some life into their
sluggish economies, Gross Domestic Product in Brazil, Russia, India, and China,
expanded by 7.5%, 4.5%, 10.5% and 10.4% respectively.
According to OECD figures, with easy credit, rising commodity prices and
favorable demographics (i.e. cheap labor) the BRIC(S) economies grew at a rapid
pace from 2001 to 2010. In 2010, while central banks in developed markets were
printing cash and lowering interest rates to breathe some life into their sluggish
economies, Gross Domestic Product in Brazil, Russia, India, and China, expanded
by 7.5%, 4.5%, 10.5% and 10.4% respectively.
http://www.oecd-ilibrary.org/statistics
However, the BRICS were eventually hit
by the economic crisis of 2008 as it reduced demand in developed economies. GDP
growth rates for 2015, 2016, 2017, 2018, 2019, 2020 (with the Covid-19
pandemic) and 2021, 2022 forecast according to the IMF were:
Brazil -3.8%, -3.4%, 0.7%, 1.4%, 1.1%, -4.1%, 5.2%, 1.5%
Russia -2.8%, -0.2%, 1.8%, 1.7%, 1.3%, -3.0%, 4.7%. 2.9% (before the war in Ukraine)
India 8.0%,
7.1%, 6.7%, 7.3%, 4.2%, -7.3%, 9.5%, 8.5%
China 6.9%, 6.7%, 6.8%,
6.6%, 6.1%, 2.3%, 8.0%, 5.6%
South Africa 1.3%, 0.3%, 0.7%, 0.8%, 0.7%, -6.5%, 5.0%, 2.2%
from https://www.imf.org/en/Publications/WEO/Issues/2021/10/12/world-economic-outlook-october-2021
And GDP growth figures for 2022-4 are
here, providing a good comparison between the BRICS and the developed
economies:
https://www.imf.org/en/Publications/WEO/Issues/2023/01/31/world-economic-outlook-update-january-2023#Projections
from https://www.imf.org/en/Publications/WEO/Issues/2023/01/31/world-economic-outlook-update-january-2023
So, as of March 2023, China’s growth has
cooled significantly from the double digits rates of previous decades but
continues to be strong. India was doing well until the pandemic and has
recovered and is growing strongly. By comparison South Africa is growing at
only a modest rate. Russia and Brazil were in serious difficulty and went
through recession even before the pandemic, due to falling oil and commodity
prices and inflation (15.8% in Russia in August 2015, and 5.2% in January 2021,
and 9.5% in Brazil in August 2015, and 4.5% in December 2020. Interest rates in
Russia stood at 7.5% in September 2018 and 4.25% in December 2020, and 6.5% in
Brazil in September 2018 and 2% in December 2020. Russia is still struggling
(2023) and facing further sanctions from the US and the EU and other countries
as a result of the Ukraine war. Soaring oil and prices are good for Russia (and
potentially bad for China) although the economic fallout from the war in
Ukraine are threatening Russia’s economic stability. High commodity prices and
for food and raw materials should benefit Brazil’s exports but, together with
high fuel prices, will increase pressure on the poor in the BRICS countries
(e.g. in India). Brazil’s economy registered good GDP recovery and growth in
2022 but only modest GDP growth is forecast for 2023 and2024.
Again from https://www.imf.org/en/Publications/WEO/Issues/2023/01/31/world-economic-outlook-update-january-2023#Projections
https://timesofindia.indiatimes.com/business/india-business/cpi-inflation-highest-in-1-5-yrs-poor-bear-maximum-burden-as-food-and-edible-oil-prices-continue-to-soar/articleshow/90812408.cms
https://www.bloomberg.com/news/articles/2022-03-05/charting-the-global-economy-commodities-fuel-yet-more-inflation
For the BRICS, with the exception of China and India, this is all in
contrast to previous very strong performance between 1995 and 2010.
http://www.tradingeconomics.com/country-list/gdp-annual-growth-rate However, according to various sources, prospects (if
we exclude events like the war in Ukraine) for the BRICS’ future long-term
growth, appear good and, compared with many of the most developed economies,
two of the BRICS, China and India are still doing very well. (We will need to
see if significant long-term gaps in growth rates open up between the BRICS
members.) Moreover, if their economies slowed down simply as a result of the
world recession in 2008 and pandemic in 2020-1 and as the global economy starts
to recover, their growth rates may return to previous levels. On the other
hand, some experts argue that they may face real challenges relating to
structural problems within their domestic economies and political systems.
See:
https://indianexpress.com/article/explained/economic-survey-key-challenges-concerns-indian-economy-7749804/
https://www.worldbank.org/en/country/southafrica/overview#1
https://www.trade.gov/country-commercial-guides/brazil-market-challenges
https://time.com/6130308/bolsonaro-brazil-2022-election/
https://carnegiemoscow.org/2021/11/24/coming-deluge-russia-s-looming-lost-decade-of-unpaid-bills-and-economic-stagnation-pub-85852
https://www.ilfoglio.it/economia/2022/02/24/news/di-tutti-i-brics-la-russia-e-quella-che-piu-ha-disatteso-le-aspettative-3727054/
https://www.themoscowtimes.com/2022/03/18/russian-economy-facing-massive-structural-challenges-central-bank-says-a76992
https://www.worldbank.org/en/news/press-release/2021/12/22/structural-reforms-can-ease-china-s-transition-to-high-quality-growth-report#:~:text=Three%20challenges%20stand%20out%3A%20first,and%20the%20private%20sector%3B%20and
We should also note that some other developing economies may
out-perform the BRICS in terms of rapid GDP growth over the next decade. There
is the ‘N 11’ group, the ‘Next Eleven’, Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, Philippines, Turkey, South Korea, and Vietnam according to Goldman Sachs. However, they too now face serious
economic problems.
There are also the TIMPS, Turkey, Indonesia, Mexico and the Philippines, a
group which in 2010 was beating the BRICS by almost every economic measure.
There are also the MINTs, an acronym coined for a group of four countries—Mexico, Indonesia, Nigeria and
Turkey. Will such countries be invited to join the BRICS group at some point or
are they in competition with the group’s members? Will they really be able to
sustain GDP growth? The BRICS Plus initiative seems to suggest that the BRICS
group could one day expand
http://en.wikipedia.org/wiki/Next_Eleven
https://www.bloomberg.com/news/articles/2015-09-11/goldman-s-next-11-markets-are-sinking-even-faster-than-the-brics
And the MINT countries
https://guides.loc.gov/mexico-indonesia-nigeria-turkey
And CIVETS
https://en.wikipedia.org/wiki/CIVETS
and MIST
https://www.eldis.org/document/A66730#:~:text=MIST%20is%20an%20acronym%20that,%2C%20South%20Korea%2C%20and%20Turkey.
At all events, the BRICS group is here
to stay and clearly represents a growing movement towards a more multipolar
world economic order and since the BRICS summit in New Delhi in 2012 various
goals have been outlined:
The reform of global economic governance – They want to move forward with
the ongoing revision of the quota mechanism for governance of the IMF, revision
of voting rights in the World Bank, and revision of global economic governance
in general in order to reflect the growing economic weight of developing
countries and emerging markets.
https://www.imf.org/external/pubs/ft/ar/2016/eng/quota.htm
https://www.imf.org/en/About/Factsheets/Sheets/2016/07/14/12/21/IMF-Quotas
https://www.worldscientific.com/doi/10.1142/9789811202308_0015
Trade and Development – They would welcome a new global reserve
currency as a reliable alternative to the dollar and to achieve greater
independence from the dollar. This might even be a cryptocurrency:
https://www.cambridge.org/core/elements/can-brics-dedollarize-the-global-financial-system/0AEF98D2F232072409E9556620AE09B0
http://theduran.com/brics-talks-create-crypto-currency-another-blow-us-dollar/
https://www.foreignaffairs.com/articles/russian-federation/2022-03-07/anti-dollar-axis
They want to boost intra-BRICS trade
using their own currencies (instead of dollars) in order to compensate for any
drop in demand due to a global future recession or falling US/EU demand (and
protect their national currencies from financial crises or financial
sanctions), and to link up their stock markets.
https://www.reuters.com/business/finance/russia-calls-integrating-brics-payment-systems-2022-04-09/
https://www.business-standard.com/podcast/economy-policy/how-rupee-ruble-trade-mechanism-is-shaping-up-122032800039_1.html
but https://journals.sagepub.com/doi/full/10.1177/21582440211054128
Some BRICS history
In 2012, they examined the idea of setting up a new development bank, whose
aims would include funding development and major infrastructure projects
initially in BRICS countries, but later in developing and least developed countries too; lending, in the long term, during
global financial crises such as the Eurozone crisis; and issuing convertible debt, which could be bought by the central banks of all the member states
and hence act as a means of risk-sharing.
Foreign policy line – In 2012 at the New Delhi summit, then President of China Hu Jintao described the BRICS countries as defenders
and promoters of developing countries and a force for world peace. At the
summit the BRICS criticized the West’s pressure on Iran and its attempts to
convince other countries to restrict their trade with Iran, and said that
dialogue was the best way to resolve the nuclear question. The group took a
similar position on Syria, against military intervention, and in general
emphasized the dangers of a war in the Middle East and the fact that it would
immediately lead to a rise in oil prices. The deal with Iran was welcomed by
the BRICS but Russia itself moved to intervene in Syria.
http://www.cfr.org/brazil/brics-summit-delhi-declaration/p27805
At the BRICS summit in Durban in March
2013, further progress was made with the approval of the plans to create the
development bank. Russia, Brazil and India agreed to contribute $18 billion to
the BRICS currency reserve pool, China $41 billion and South Africa $5
billion.)
At the July 2014 sixth BRICS summit in Fortaleza, Brazil the group signed a
document to create the $100 billion funded New Development Bank (NDB) and a reserve currency pool worth an
additional $100 billion to help make currency transaction more diversified,
stable and predictable and to act as “a
kind of mini-IMF”. The NDB opened in July 2015. The NDB’s headquarters are
in Shanghai, the institution's first president is from India, the bank's first
regional office is in Johannesburg, the inaugural chairman of the board of
governors is from Russia and the first chairman of the board of directors was
from Brazil. The presidency, with a term of five years, will rotate among the
members of the BRICS. However, the BRICS’ NDB may be overshadowed by the
other new Chinese-based multilateral lender, the Asian Infrastructure
Investment Bank (AIIB), which is headquartered in Beijing. China is its biggest
shareholder with about 30%, according to the legal framework signed by 50
founding member countries. It opened for business on 16 January 2016. Major
European and Asian economies, including Germany, Italy, Britain, France,
Russia, Australia, and South Korea have joined the AIIB, but the US and Japan,
two of the world’s largest economies, have declined to do so. Some Chinese
leaders have also talked of the need to prepare for a 'de-Americanized' world
economy. However, Chinese Finance Minister Lou Jiwei played down the
competitive aspect (2015). And prospects for cooperation between the banks seem
good
https://www.aiib.org/en/news-events/news/2017/20170401_001.html
The new banks intend to offer an
alternative to the World Bank, the International Monetary Fund and the Asian
Development Bank and can be seen not as competition to the existing system but
as complementary and a way for China to reinvest productively some of its vast
$3.408 trillion foreign-exchange reserves (August 2021). See China’s ‘Belt and Road Initiative’ below.
In 2017 the NDB moved ahead with 4 projects in China, Russia and India with loans totaling more than $1.4bn. The scope of the NDB’s
activities includes renewable energy, information technology, energy
conservation, flood control, water quality and developing the rural drinking
water supply. Going forward, another $30bn in loans, for a total of 15 projects
by the end of 2017 and up to 50 by 2021 was announced.
https://www.weforum.org/agenda/2019/09/brics-new-development-bank-four-sustainability/ http://ndbbrics.org/
https://www.ndb.int/wp-content/uploads/2017/08/NDB-Strategy.pdf
https://www.ndb.int/about-us/essence/our-work/
https://en.wikipedia.org/wiki/New_Development_Bank
https://www.ft.com/content/cc7c7ee6-918b-11e7-a9e6-11d2f0ebb7f0
http://sd.iisd.org/news/new-development-bank-opens-for-business/
http://www.huffingtonpost.com/richard-javad-heydarian/asian-infrastructure-inve_b_7717540.html
http://www.guardian.co.uk/global-development/2013/mar/28/brics-countries-infrastructure-spending-development-bank
The 2015 BRICS summit was
held in Ufa in Russia. The summit coincided with the entry into force of
constituting agreements of the New Development Bank and the BRICS Contingent Reserve Arrangement, a framework for the provision of
support through liquidity and precautionary instruments in response to actual
or potential short-term balance of payments pressures.
The 2016 BRICS summit was held from 15 to 16
October 2016 in Goa, India. It condemned terrorism, recognized the difficulties
for the group created by the global recession and underlined the importance of
cooperation with and work within traditional global institutions like the WTO.
There was some controversy over the issue of
terrorism.
https://en.wikipedia.org/wiki/8th_BRICS_summit#Controversy
https://www.theguardian.com/world/2016/oct/16/narendra-modi-mothership-of-terrorism-pakistan-brics-goa
The 2017 BRICS summit in
Xiamen, China helped to reduce tensions between China and India over the Doklam border issue.
https://en.wikipedia.org/wiki/2017_China%E2%80%93India_border_standoff
The summit approved a three-year
action plan (2017-2020) for cooperation innovation and agreed to
promote the development of BRICS Local Currency Bond Markets and jointly
establish a BRICS Local Currency Bond Fund, as a means of contribution to the
capital sustainability of financing in BRICS. The BRICS grouping continued to
push for cautious reform of global order but in its final declaration made it
clear that it did not wish to weaken the institutions of the international
order and reaffirmed the BRICS' commitment to the UN and the G20,
globalization, sustainable development and the fight against climate change.
http://www.postwesternworld.com/2017/09/07/leaders-declaration-analysis/
The 2018 BRICS
summit in Johannesburg, South Africa released this declaration https://www.mea.gov.in/bilateral-documents.htm?dtl/30190/10th_BRICS_Summit_Johannesburg_Declaration
and Chinese President Xi
Jinping said:
“It is important that we continue to pursue
innovation-driven development and build the BRICS Partnership on New Industrial
Revolution (PartNIR) to strengthen coordination on macroeconomic policies, find more
complementarities in our development strategies, and reinforce the
competitiveness of the BRICS countries, emerging market economies and
developing countries.”
http://www.atimes.com/article/how-brics-plus-clashes-with-the-us-economic-war-on-iran/
He also discussed the BRICS Plus
initiative.
http://www.xinhuanet.com/english/2018-07/28/c_137352893.htm
The 2019 BRICS summit was held
at the Itamaraty Palace in the Brazilian Ministry of Foreign Affairs and saw members reaffirm
their commitment to cooperation on a range of topics.
https://en.wikipedia.org/wiki/11th_BRICS_summit
http://www.xinhuanet.com/english/2019-11/15/c_138555948.htm
The 2020 BRICS
summit was originally scheduled to
take place in Saint Petersburg from July 21 to 23,
2020 but was changed to a video conference held on November 17 due to the
outbreak of the global COVID-19 pandemic.
https://en.wikipedia.org/wiki/12th_BRICS_summit
http://www.xinhuanet.com/english/2020-11/17/c_139523088.htm
The 2021 BRICS
summit was held in New Delhi, India on 9 September.
https://www.silkroadbriefing.com/news/2021/09/15/brics-summit-2021-roundup-analysis/#:~:text=Global%20Reform,is%20more%20receptive%20and%20effective.
Other Points
The border dispute between India and China continued.
https://www.bbc.com/news/world-asia-53062484
China’s ‘Belt
and Road Initiative’.
Will China’s ‘Belt and Road Initiative’ be an opportunity for the BRICS to
invest and work together, or a way for China to dominate its neighbours and
partners?
https://en.wikipedia.org/wiki/Belt_and_Road_Initiative
https://www.oecd.org/finance/Chinas-Belt-and-Road-Initiative-in-the-global-trade-investment-and-finance-landscape.pdf
https://www.silkroadbriefing.com/news/2020/11/25/china-belt-and-road-projects-value-now-exceeds-us4-trillion/
https://journals.sagepub.com/doi/10.1177/2059436418792339#:~:text=Due%20for%20completion%20in%20the,South%20Asia%20to%20the%20Middle
https://foreignpolicy.com/2021/09/27/brics-members-summit-brazil-russia-india-china-south-africa/
https://journals.sagepub.com/doi/full/10.1177/21582440211054128
So do the BRICS represent a fundamental
change in the world order either today, or in the near future or in the long
term?
https://www.trtworld.com/magazine/brics-20-years-on-a-success-or-failure-52410
https://www.jordantimes.com/opinion/jim-oneill/will-brics-ever-grow
https://news.cgtn.com/news/2022-03-24/BRICS-Summit-in-China-to-focus-on-new-era-of-global-development--18Fe1TYbYOI/index.html
https://foreignpolicy.com/2021/09/27/brics-members-summit-brazil-russia-india-china-south-africa/
https://www.affarinternazionali.it/archivio-affarinternazionali/2020/12/da-una-crisi-allaltra-il-rilancio-del-gruppo-brics/
Few doubt that the influence of these
countries will continue to grow. After all, as emerging economies, their growth
rates have often been much higher than those that the developed economies have
averaged over the last 20 years and although all of them have faced social and
economic difficulties with the Covid-19 pandemic and domestic challenges, their
prospects for the long-term future remain good. So the real question is whether
Brazil, Russia, India, China and South Africa form a coherent group with a
coherent set of interests which are clearly opposed to those of the traditional
‘West’ or not. In other words, are all of these countries really outside the
‘West’ if we do not restrict the meaning of the term ‘West’ to a synonym for
NATO or fully developed economies? Are they a challenge to the West’s
leadership of the existing international order, or even to the order itself, or
will all or some of these countries simply become a more integral part of it?
Much of what the BRICS aim to do with regard to trade and development, as
outlined above, should simply be welcomed by the West and the rest of the
international community in the UN. Many Western NGOs and UN agencies have been
working towards these development goals for decades, but with limited resources
and limited success. A new reserve currency alongside the dollar would make the
international financial system more stable and provide a further global lender
of last resort, while the creation and growth of the New Development Bank should
provide a way for a country like China to reinvest its surplus in various local
and global projects. How realistic all this is in the short term is, however,
less clear given some of the structural weaknesses of their economies and some
fears about China's growing total debt.
http://fingfx.thomsonreuters.com/gfx/rngs/CHINA-DEBT-HOUSEHOLD/010030H712Q/index.html
Population trends within the BRICS also differ significantly. The
population of China continues to grow, but continues to slow (0.47% in 2018,
0.43% in 2019, 0.30 in 2020) and is predicted to reach 1.45 billion in 2030 and
then to go into decline with an already aging population. https://www.hindustantimes.com/world-news/china-s-population-will-peak-at-1-45-billion-around-2030-says-government/story-RO1snkgzMEUkmK8VR9HssO.html
India’s population is youthful and
expanding at 1.0% in2020 annually and will probably overtake China
as the world’s most heavily populated state by 2024.
http://www.asianews.it/news-en/UN-says-Indias-population-will-overtake-China-in-seven-years-41088.html Brazil’s population growth rate was also high in
previous years but fell to 0.80% in 2013 and remained there, 0.79% in 2018,
0.73% in 2019 and 0.7% in 2020. Meanwhile the population in South Africa
grew by I.37% in 2018, 1.33% in 2019 and 1.30% in 2019.
Since 2015 population growth in the
Russian Federation has been in decline and is now in negative figures, -0.01%
in 2018 and -0.05% in 2019, -0.2% in 2020 (see notes below#). These trends
impact GDP growth rates and social welfare costs in the future, making
forecasts difficult to make and suggesting growing divergence among the members
of the group.
Commentators also point out that there are already real differences and
potential divisions and weaknesses among the group’s members which will
inevitably affect the coherence and effectiveness of the group in responding to
any particular issue, and the ultimate objectives of each of its members. Here
are a few of them:
Russia and China are permanent members of the UNSC with veto power. They
initially did not seem in a hurry to support India, Brazil and South Africa
with more than words in any bid to obtain permanent seats on the Council and do
not support attempts to reform the SC by eliminating or reducing the scope of
the veto power.
http://economictimes.indiatimes.com/news/defence/china-ambivalent-on-g4-call-for-unsc-reforms/articleshow/49137968.cms
https://www.rt.com/news/315510-un-security-council-reform/
The Durban Declaration included this
sentence:
“In this regard, China and Russia reiterate the importance they attach to
the status of Brazil, India and South Africa in international affairs and
support their aspiration to play a greater role in the UN.”
http://zeenews.india.com/business/news/international/brics-has-weak-stand-on-indias-security-council-aspirations_73022.html
http://www.ndtv.com/india-news/indias-bid-for-a-permanent-seat-at-the-un-security-council-suffers-blow-1206727
This seemed to stop short of
unconditional support for seats on the UNSC for Brazil and India, but in August
2015 Russia finally expressed clear support for permanent seats for Brazil and
India:
http://in.rbth.com/world/2015/08/15/rusia-supports-applications-of-india-brazil-for-permanent-membership-in-un-sc_390367
The BRICS Xiamen summit declaration
in 2017 stated that "China and Russia reiterate the importance they attach
to the status and role of Brazil, India and South Africa in international
affairs and support their aspiration to play a greater role in the UN."
https://www.firstpost.com/world/china-underplays-russias-backing-for-indias-permanent-membership-of-unsc-advocates-package-solution-that-accommodates-all-parties-7916861.html
https://www.efe.com/efe/english/portada/china-russia-to-help-rest-of-brics-members-play-bigger-role-in-un/50000260-3369252
http://www.newindianexpress.com/nation/2018/oct/06/russia-reiterates-support-for-indias-permanent-seat-in-un-security-council-1881691.html
Russia and China do not
automatically support the extension of the veto to India and Brazil.
https://www.ndtv.com/india-news/india-will-become-permanent-member-of-un-security-council-sushma-swaraj-1678206
Would a permanent seat without a veto now be acceptable to the G4?
https://www.firstpost.com/world/unsc-permanent-seat-india-and-other-g4-countries-ready-to-forgo-veto-for-now-if-granted-membership-3323572.html
However, while Russia now clearly supports India's bid for a
permanent seat on the UN Security Council, China is more ambivalent since
India's bid is linked to Japan's in the G4.
http://www.newindianexpress.com/nation/2018/oct/06/russia-reiterates-support-for-indias-permanent-seat-in-un-security-council-1881691.html
https://economictimes.indiatimes.com/news/defence/indias-unsc-alliance-with-japan-biggest-mistake-chinese-media/articleshow/49042814.cms
https://economictimes.indiatimes.com/news/politics-and-nation/major-differences-among-un-members-over-indias-permanent-membership-in-unsc-china/articleshow/73304888.cms?from=mdr
Moreover, Russia and China may continue to use their position and
their vetoes primarily to forward their own interests, as they perceive them,
rather than the interests of the BRICS or the interests of the majority of
developing nations in the General Assembly. For example, from the start of the
Syrian civil war in 2011 China and Russia were ready to block any resolution on
Syria by the SC (like that proposed by the Arab League in Feb. 2012 and
approved by the UNGA by 137 votes to 12 with 17 abstentions, which could have
opened the door to outside intervention) or simply called for the current
regime to step down. In contrast, when Russia decided to launch its own air
strikes into Syria in September 2015, at the invitation of President Assad, it
is not clear if it first informed and coordinated its action with its BRICS
partners and sought approval from them. Russia has used its veto to block
criticism of the Assad regime or of its own intervention. Currently China
Supports Russia and the Assad regime
https://www.mei.edu/publications/china-plays-long-game-syria
India accepted Russia’s intervention but argues that any long-term
solution must be political. http://thediplomat.com/2015/10/heres-what-india-thinks-about-russian-air-strikes-in-syria/
https://www.business-standard.com/article/international/imposing-external-solutions-will-not-resolve-syrian-conflict-india-at-unsc-122022600295_1.html
China is, of course, a one-party state
with regional ambitions, perceived as a threat by several of its democratic and
non-democratic neighbors who have turned to the US for support. Russia is,
although formally a democracy, an authoritarian state and one with substantial
military power. By contrast, Brazil, India and South Africa are all functioning
(or dysfunctional!) democracies, with a variety of problems relating to
poverty, but sharing many ‘Western’ values. However, Brazil’s former President,
Jair Bolsonaro was a populist authoritarian leader who expressed admiration for
Putin and was accused of trying to undermine democracy in Brazil. In India Prime Minister Narendra Modi is criticized for undermining India’s democracy.
At the same time India still has border disputes with China.
https://thediplomat.com/2022/06/indias-struggle-between-democracy-and-authoritarianism/
https://www.bbc.com/news/world-asia-53062484
https://www.bloomberg.com/opinion/articles/2017-07-20/india-s-faceoff-with-china-is-a-sign-of-the-future
and is also involved in the dispute over the status of Tibet (a
‘domestic’ Chinese issue for the Chinese, as is Taiwan). So while the BRICS
appear to represent a calming force in international relations, in favor of
conflict resolution through dialogue and against military intervention and
regime change, something that the West, or at a least large section of Western
public opinion, probably welcomes after the long, costly wars in Iraq and
Afghanistan, it is not clear that this respect for every nation’s sovereignty
(and implicitly the right of a state to repress its own citizens with
impunity) will be universally accepted and approved of by public
opinion around the world, by all the members of the UNGA and by public opinion
within the democratic BRICS themselves. Military intervention for humanitarian
purposes remains a subject of heated debate within, as well as between
countries, experts and ordinary people. Some argue that a situation like Syria
requires international action. Others argue that the humanitarian costs of
intervention may easily outweigh the gains. Given Russia's intervention in
Syria it would have been an oversimplification to see this as a division
between an aggressive NATO and a peaceful BRICS. Opinion in the West was always
divided over the operations in Afghanistan, in Iraq and in Libya. After
Russia's intervention in Syria, it is interesting to see the reaction of its
BRICS partners and the level of cooperation between Russia and France (after
the Nov. 2015 terrorist attack on Paris), the EU, the US and other regional
powers like Turkey. The article below highlights the pragmatism that often
seems to shape the foreign policy of each of the BRICS. https://library.fes.de/pdf-files/id-moe/11354.pdf
Each of the BRICS also faces serious domestic
challenges, mainly relating to the Covid-19 pandemic, widespread poverty,
inequalities of wealth and corruption. At the same time there are rivalries
between them and wide variation in their economic performance and political
focus.
Read these articles:
https://www.theguardian.com/global-development/2020/aug/03/we-have-abandoned-the-poor-slums-suffer-as-covid-19-exposes-indias-social-divide
https://www.theguardian.com/inequality/2017/apr/25/unequal-russia-is-anger-stirring-in-the-global-capital-of-inequality
https://www.theguardian.com/world/2020/dec/28/russia-admits-to-world-third-worst-covid-19-death-toll-underreported https://www.bbc.com/news/world-latin-america-54476934
https://borgenproject.org/south-african-poverty-and-covid-19/
https://thediplomat.com/2019/11/is-brics-losing-its-shine-for-china/
https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/covid-19-magnifies-brics-divergence-as-china-solidifies-lead-61053247
And these challenges, together with
growing regional commitments by its members may take precedence over the BRICS'
aspirations to play a more global role in international relations as a group.
For example, Brazil in 2015 saw widespread protests by the poorest sections of
society, with people saying that they had not benefited from GDP growth, that
money had been wasted on the Olympics and World Cup and calling for the
government to do something about economic inequalities and widespread bribery
and political corruption. This scandal led to the impeachment of President
Dilma Rousseff in 2016, the arrest of former President Lula and contributed to
the election of Jair Bolsonaro as
President in October 2018, a candidate whose right-wing rhetoric proved
divisive.
https://www.theguardian.com/world/2016/aug/31/dilma-rousseff-impeached-president-brazilian-senate-michel-temer
https://www.theguardian.com/world/2018/apr/07/crowds-in-sao-paulo-block-lula-from-handing-himself-in
https://www.theguardian.com/world/2018/oct/28/jair-bolsonaro-wins-brazil-presidential-election
Bolsonaro’s anti-China rhetoric may not
have helped Brazil in purchasing medical supplies and equipment need to deal
with the Covid-19 pandemic.
https://www.aa.com.tr/en/americas/bolsonaro-in-china-shop-spats-worsen-brazils-pandemic/1883204#
In 2022 political tensions in Brazil rose again with the prospect of
the coming presidential election this year.
https://time.com/6130308/bolsonaro-brazil-2022-election/
One of South Africa’s main challenges, perhaps the main one, is
corruption
https://www.transparency.org/en/blog/in-south-africa-covid-19-has-exposed-greed-and-spurred-long-needed-action-against-corruption#
https://theconversation.com/why-south-africas-president-stands-on-solid-ground-in-the-fight-against-corruption-150305
Meanwhile, many commentators argue
that the change in the world order is really a result simply of the rise of
China (or at most China and India) rather than the BRICS as a whole.
https://www.forbes.com/sites/douglasbulloch/2017/09/20/india-not-china-is-now-central-to-the-future-of-the-brics/?sh=3ac814a75d1e
https://www.economymagazine.it/cgtn-china-leads-global-vaccine-cooperation-as-brics-enters-the-15th-year/
https://www.statista.com/statistics/254281/gdp-of-the-bric-countries/
Some conclusions (2022)
The BRICS seem to be able to
vote with a fair degree of quiet unity at the UN (using abstentions on votes on
Ukraine, for example) and if they expand to include other resource-rich developing
counties will clearly gain in both economic and political influence. The real
question for the future is whether this will lend more support to
authoritarianism at the expense of democracy and human rights.
However, one
should note that the BRICS are not really like the old Communist bloc, which
defined itself by its opposition to the West and to capitalism. (Perhaps
politically it has so far been more similar to the old Non-Aligned Movement of
the Cold War period, of which India was a member – at least until Russia’s
increasingly proactive foreign policy). Economically, there is no clear
division between the ‘West’ and the BRICS. In both groups we find a range of
approaches to managing the economy, those that adopt a more free-market
approach, those that believe in government supervision and those that believe
in a welfare state – and varying proportions of all three. Politically, as with
the rest of the world, the BRICS countries have their national interests and
will no doubt seek to protect them, but there is no basic ideological division
between the West and the BRICS regarding economics. China is hardly
recognizable today as a ‘Communist’ state in terms of economic policy. China
and Russia are authoritarian states but they are also part of an international
community based fairly solidly on Western liberal free-market and democratic
values that they do not wish to challenge publicly (although they may violate
them) and which shows no real signs of losing its appeal to the majority of
people around the world. Brazil, South Africa and India are active supporters
of this community’s values. As indicated previously, Bolsonaro was a populist
authoritarian figure who aligned with Putin but lost the latest election (2022)
to former president Lula da Silva. So the challenge represented by the BRICS
is probably best expressed in economic terms rather than a situation arising
that will necessarily lead to a political clash. Developing economies are
becoming less dependent on developed economies and the institutions that they
dominate, Here China, Russia and Brazil certainly say
that they want the BRICS to represent an alternative model to the West’s (the
IMF and World Bank) one that represents the Global South.
https://edition.cnn.com/2023/08/28/china/china-brics-expansion-victory-intl-hnk/index.html
In fact,
optimistic commentators hope that both Russia and China will ultimately conform
to liberal values in the long term, evolving slowly towards a more democratic
and rights-based society (however unlikely this seems at the end of 2023, given
their tightening of authoritarian domestic controls and territorial claims in
recent years). This at least is the position of most of those who favor
relaunching cooperation, where possible, over confrontation. In their opinion,
a more multipolar world with a more diffuse leadership does not necessarily
mean a weaker West, but perhaps simply a more inclusive and wider definition of
that idea. At the same time, we may see the BRICS acting together on crucial
economic issues, and also negatively to block, discourage or restrain what they
may see as Western adventurism as regards military interventions (perhaps
proposed ‘for humanitarian purposes’) in other countries or to protect their
partners from criticism, but much less able to agree a positive, proactive line
in foreign policy due to their different political systems and priorities.
Their cooperation could prove valuable in areas where the US is no longer
willing to get involved. For instance, during the Trump administration the
BRICS remained supporters of efforts to save the Iran deal.
Other experts point to the reaction of its BRICS partners to Russia’s invasion
of Ukraine in early 2022. They have called for restraint by both sides and a
peaceful solution to the conflict, in line with the traditional policy of the
BRICS, but voted against or abstained from votes criticizing Russia for
invading an independent sovereign state. Such open or tacit support for Russia
may be ideological on China’s part, in favor of authoritarian government, but
simply economic on the part of India and South Africa, both wanting to secure
their energy supplies. Brazil’s position may have partly reflected Bolsonaro’s
sympathy for authoritarianism but with president Lula just the continued desire
to cooperate with Russia as an energy supplier.
https://www.dailymaverick.co.za/article/2022-03-27-south-africa-pursuing-major-gas-deal-and-russia-wants-in/
China also seems to be trying to quietly help Russia by offering an
alternative to the SWIFT payment system
https://thediplomat.com/2022/03/can-chinas-swift-alternative-give-russia-a-lifeline/
and by continuing its energy imports, but problems with
infrastructure make it unlikely that China will be able to increase imports of
gas in the short term.
So cooperation among the BRICS may be less a question of principle and more one
of a general opposition to political interference or sanctions from a
Western-led or dominated international community and a determination to have
greater influence and freedom in the economic field within the international
community and its institutions. Beyond that, however, each member of the BRICS
may simply want the freedom to focus on its own priorities in foreign policy
with or without its BRICS partners. India, for example, is also part of
the Quad group, aimed at containing China’s increasing military presence in the
Indo-Pacific area.
https://en.wikipedia.org/wiki/Quadrilateral_Security_Dialogue
https://it.wikipedia.org/wiki/Dialogo_quadrilaterale_di_sicurezza
https://it.usembassy.gov/the-quad-advancing-peace-and-prosperity-in-the-indo-pacific/
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