The BRICS Summit is one of importance Photo Library of Congress
World – The upcoming BRICS Summit in South Africa has sparked significant interest and discussions about the role of BRICS (Brazil, Russia, India, China, and South Africa) not only within its five member countries but also in the context of the global village. As the geopolitical landscape evolves, the BRICS bloc is gaining traction and seeking to position itself as an alternative power block in global politics.
BRICS originally started as a trade bloc but has evolved into a project aiming to counter the dominance of Western capitalist countries. Today, it aspires to be a formidable alternative power block in global geopolitics, explained Trevor Ngwane, Director of the Centre for Sociological Research and Practice at the University of Johannesburg. However, the Russian-Ukraine war has raised the stakes and forced BRICS to quicken its pace in becoming a formidable alternative to Western capitalist countries.
“The stakes have gone up especially after the invasion of Ukraine by Russia. The states are really up and this Invasion this war is reconfiguring BRICS and forcing the pace because BRICS was evolving slowly, finding its feet but suddenly now countries of BRICS must declare either for the USA, NATO or for Russia. This is a terrible situation especially for South Africa.”
Africa’s Role in the Emerging BRICS Identity
For the African continent, BRICS represents an opportunity to respond to the historical legacy of colonisation and the marginalisation imposed by Western-dominated institutions like the World Bank and the IMF. The emergence of BRICS can also be seen as a response to neo-liberal institutions like the World Bank and the IMF, said Gwinyai Taruvinga Postdoctoral Research Fellow Wits University Research on Democracy in Africa, the Political Economy of Africa, and Governance of Natural Resources in Africa. These institutions have been criticised for exploiting African countries through high-cost loans and one-sided terms, resulting in Africa being left behind in the global economic landscape.
“What we see with the BRICS is sort of a response to this and we see South Africa taking that leading role. Using BRICS as this institution that puts Africa on par with other nations. We look at it as being more of the response to the historical elements. We see BRICS as a major response for the African continent with South Africa leading the way in this journey.”
SMread: Investigation unravels allegations of corruption at SAFA
The diplomatic strength
One of BRICS’ strengths lies in its commitment to respecting the sovereignty and political systems of its member countries. This diplomatic approach fosters stable relationships and allows for open dialogue on critical political and economic issues. The unity of BRICS nations in recognizing and respecting each other’s differences provides a counterbalance to the hegemonic geopolitical order historically sponsored by the West, explained Gideon Chitanga, Research Associate at African Centre for the Study of the United States, at Wits University.
“We are seeing more and more, closer cooperation within BRICS but also around countries from the global South. Whether they are African countries, Latin American countries and the Middle East countries also having an interest in the BRICS. Mainly because they feel that the neoliberal geopolitical order cannot sustain people. We are seeing global instability which has great risks.”
This respect that is afforded to countries within the BRICS bloc as well as their pursuit to be a new global power has attracted other countries who wish to join BRICS. This respect is something that is not easily given in the Western world.
The economic potential
The combined population and economic strength of BRICS member countries, particularly China and India, hold tremendous potential for transforming global economic relations. The bloc’s collective economic power and growing intra-BRICS trade present opportunities for infrastructure development, technological advancements, and increased investment in member countries. BRICS, which was once deemed to be a failure by the Western world, could become greater than it, said Chitanga.
“Intra-BRICS trade between these countries is also growing. If you look at the demographic advantage in terms of creating a potential common market, it will be bigger than the US or the G7. I am quite sure that in terms of the GDP, BRICS can become the most dominant community. So, there is huge potential, but we are a long way before the gain. We are seeing the benefits of growing trade, growing partnership, growing voice in the global platform in addressing multilateral issues or responding to multilateral issues.”
The BRICS currency and reducing reliance on the US Dollar
There have been discussions about the possibility of a new currency within the BRICS nations that could challenge the dominance of the US dollar in international trade. This move could potentially weaken the US’s global stranglehold and empower smaller countries to stand on equal footing with major economic powers, said Taruvinga.
“Previously with trade, the idea of trade was that a country would trade based on the amount of gold that they have but [Former] President Nixon changed this and made the [US] Dollar the mode for trade and this has obviously ensured that the United States of America has enjoyed the hegemon within the global sector. With BRICS, concerning this particular currency, we see that there is an opportunity to threaten this stranglehold that the United States of America has had for a very long time. However, it is going to take a certain period of time for this actually to come to fruition. For BRICS to actually have this currency that will challenge the US Dollar.”
However, this must be pursued cautiously, considering the impact on global markets and ensuring confidence in the new currency.
The BRICS summit and South Africa’s role and internal political dynamics
The summit serves as a platform to address critical issues affecting member countries and the global community such as, discussions surrounding the Russian-Ukrainian conflict and the response from the global South towards maintaining peace and dialogue, global restructuring and representation as well as a potential common marketplace.
However, As the host of the BRICS Summit, South Africa plays a crucial role in representing African interests on the global stage. It must not overlook internal issues like xenophobia, democracy, and political parties’ weaknesses, stressed Ngwane.
“The BRICS platform must be used to push forward what I can call a progressive agenda. It requires us to look at what is not progressive, not just with our enemies, but within ourselves. This is quite important. We cannot let Modi come here and be treated like a great statesman when back home he’s encouraging communalistic attacks on Muslims, the war in Kashmir etc … We cannot allow President Ramaphosa to obscure some of the issues which he must address. To use the BRICS platform to project a hunky-dory all flowers situations.”
The issues of ordinary people must also be addressed. It will be counterproductive to go to BRICS and present Africa as one united front but when the summit is over, “you turn around and attack Zimbabweans and Mozambicans as foreigners”. All these issues must come up and it must not be a time for the “rich to bask in their glory” without facing the issues they have at home, said Ngwane.
The BRICS Summit presents both opportunities and challenges for the participating nations. It offers a platform for progressive agendas and the strengthening of national institutions and parties. The leaders must engage in discussions that address regional and global issues while safeguarding the interests of their citizens. By collaborating, cooperating, and imagining an alternative system, the BRICS countries can shape a better world for all.
In the lead-up to the Summit, it is crucial for civil society organisations and movements to engage in discussions and make their voices heard, ensuring a broader representation of interests. The BRICS Summit can be a stepping stone towards a more equitable and prosperous global community if the leaders embrace a vision of shared progress and unity.
