The phrase “when the winds of change blow” from a Chinese proverb highlights the choice between resistance and adaptation to change. As the global shift toward a new economic and political order intensifies, the West seems to be facing a crisis in the face of BRICS’ expansion. Emerging economies, previously held back by an unequal international framework, are now challenging the post-Cold War order, with BRICS growing in influence. Once comprising Brazil, Russia, India, China, and South Africa, the bloc has expanded with the addition of Egypt, Ethiopia, Iran, and the UAE, making it a more significant player than the G7, both in population and economic output.
China, as the largest economy within BRICS, is poised to surpass the US in GDP by the end of the decade. This shift is driven by a desire to break free from historical underdevelopment and reduce dependence on the US dollar, which has given the US a unique advantage in global trade. BRICS nations, united by their efforts to address economic inequality, are not seeking to dismantle the existing order but rather to reform it, advocating for multilateralism and greater representation in institutions like the UN, IMF, and World Bank.
BRICS’ push for de-dollarisation and the creation of new financial institutions, such as the New Development Bank, highlights their desire to protect national economies from Western sanctions and control. This challenge to the West’s dominance is framed not as a confrontation but as a move towards a more inclusive global economic system, benefiting not just the developed world but also the Global South.
The bloc’s goals align with historical movements for self-sovereignty and development, like the Bandung Conference, which sought independence and a fairer global economic system. While Western critics warn of anti-Western sentiment, BRICS’ focus remains on economic empowerment, cooperation, and addressing pressing global issues like food security and climate change.
As BRICS grows, it exemplifies the shift towards a more multipolar world, where the Global South seeks a more equitable distribution of power and resources. This transformation may be seen as the collapse of an old global order that no longer reflects the aspirations of the majority of the world’s population.
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