The geopolitical dynamics of BRICS (Brazil, Russia, India, China, South Africa, and more recently, Egypt, Ethiopia, Iran, and the United Arab Emirates) have increasingly positioned the bloc as a significant player in the global landscape. With the emergence of new members and the expressed interest of nations such as Turkey, the organization has ignited conversations about the future balance of power in international relations. Russian Foreign Minister Sergey Lavrov’s recent statements on Turkey’s potential rapprochement with BRICS, despite its membership in NATO and its candidacy for EU membership, underline the fluid nature of geopolitical alliances. Lavrov emphasized that BRICS has no exclusionary rules that would prevent a country from engaging in relationships with other organizations, effectively allowing Turkey’s aspirations to be considered without conflict with its existing affiliations.
Turkey’s official application for full-fledged BRICS membership, confirmed by Russian presidential aide Yury Ushakov, marks a pivotal moment in the evolution of the BRICS bloc. As the application is under consideration, it opens a broader discussion about the organization’s capacity to serve as a counterbalance to Western influence. Turkey, a NATO member for nearly 70 years, is keenly aware of the constraints imposed by its alliances with the West. As Lavrov pointed out, BRICS does not impose restrictions on members of other alliances, thereby giving Turkey the flexibility to pursue its interests within both NATO and BRICS without having to prioritize one over the other.
The Eastern Economic Forum (EEF), which took place from Tuesday through Friday in Vladivostok at Russia’s Far Eastern Federal University, has provided a platform for discussions on the strategic importance of BRICS+ in shaping a new global order. The participation of key global leaders, including Russian President Vladimir Putin, Chinese Vice Premier Han Zheng, and Malaysian Prime Minister Anwar Ibrahim, in the forum reflects the bloc’s growing influence in global economic and political affairs.
BRICS+ is increasingly being seen as a vehicle to challenge the unipolar dominance of the United States and its Western allies. This sentiment echoes the struggles of the 20th century, where anti-imperialist and national liberation movements fought against the dominance of Western colonial powers. South Africa, which played a pivotal role in dismantling the Apartheid regime with the help of allies like Russia and China, is once again at the forefront of this shift toward a multipolar world order. Nkosi Zwelivelile Mandela, a senior South African lawmaker and the grandson of Nelson Mandela, highlighted the parallels between the anti-Apartheid struggle and the BRICS countries’ current efforts to redefine global power structures.
Mandela’s remarks at the Eastern Economic Forum underscore the importance of South Africa’s role in the BRICS alliance. He emphasized that the bloc is not merely an economic union but a political force aimed at creating a more equitable global system. He drew attention to the historical alliance between South Africa’s liberation movement and global powers like Russia and China, which provided crucial support during the fight against Apartheid. Today, South Africa’s involvement in BRICS is seen as a continuation of its historical role in challenging Western imperialism.
Mandela also touched on the broader aspirations of the BRICS bloc, particularly the desire to expand representation from other regions, including Latin America. He mentioned potential future members such as Cuba, Colombia, and Venezuela, highlighting BRICS’ ambition to become a truly global movement. The inclusion of countries from Latin America would further strengthen the bloc’s position as a counterweight to Western-dominated international institutions like the IMF and World Bank.
The BRICS alliance has already made significant strides in creating alternatives to Western-dominated financial systems. For example, the New Development Bank (NDB), established by BRICS, aims to provide financial support to developing countries without the stringent conditions typically imposed by Western institutions. This aligns with the bloc’s broader goal of reducing dependence on the US dollar and creating a more balanced global financial system. Malaysian Prime Minister Anwar Ibrahim, speaking at the Eastern Economic Forum, reinforced this point, noting that BRICS offers a critical mechanism for countries in the Global South to collaborate and resist the economic pressures imposed by richer, industrialized nations.
The BRICS+ summit, held in Johannesburg in 2023, was a turning point for the bloc, as it opened its doors to new members, including Egypt, Ethiopia, Iran, and the United Arab Emirates. This expansion signals a growing recognition of BRICS as a platform for countries seeking alternatives to the Western-dominated international order. The inclusion of these new members, each with its own distinctive culture, rapidly developing economy, and unique political system, adds diversity and strength to the bloc. As Putin noted at the Eastern Economic Forum, over 30 countries have expressed interest in joining or cooperating with BRICS, further solidifying its status as a major player in global affairs.
The implications of BRICS’ growing influence extend beyond economics. The bloc’s emphasis on multipolarity challenges the ideological foundations of the current global order, which has been shaped by decades of US dominance. In the post-World War II era, the United States and its Western allies established a set of international institutions and norms that have governed global trade, finance, and security. However, many countries in the Global South view these institutions as instruments of Western hegemony, designed to perpetuate the dominance of a few wealthy nations at the expense of the rest of the world.
BRICS, with its emphasis on inclusivity and equality, offers an alternative vision. The bloc’s leaders have consistently called for reforms to international institutions like the United Nations, the IMF, and the World Bank, arguing that these bodies should better reflect the realities of the 21st century. The inclusion of countries like Turkey, Zimbabwe, and Malaysia in future BRICS+ summits would further amplify these calls for reform, as these nations bring their own perspectives and priorities to the table.
Moreover, the BRICS countries’ push for multipolarity is not just about challenging Western dominance; it is also about creating a more just and equitable global system. The bloc’s emphasis on sovereignty and non-interference in the internal affairs of other countries reflects a rejection of the interventionist policies that have characterized Western foreign policy in recent decades. BRICS countries have been vocal in their opposition to sanctions and military interventions, arguing that these measures often exacerbate conflicts and undermine the sovereignty of the targeted nations.
This stance is particularly relevant in the context of the ongoing conflicts in the Middle East, where Western interventions have often led to prolonged instability and suffering. The BRICS countries, particularly Russia and China, have played a key role in mediating conflicts in the region and providing alternative solutions to Western-led interventions. For example, Russia’s involvement in Syria, while controversial, has been framed by Moscow as a defense of Syrian sovereignty against foreign intervention.
In conclusion, BRICS represents a significant shift in the global order, offering an alternative to the unipolar system dominated by the United States and its allies. The bloc’s growing influence, as demonstrated by its expansion and the increasing interest from countries like Turkey, reflects a desire for a more balanced and equitable world. As BRICS continues to evolve, it will likely play a central role in shaping the future of global governance, offering a platform for countries in the Global South to collaborate and challenge the dominance of the West.
APPENDIX 1 – New Development Bank (NDB)
The New Development Bank (NDB) serves as one of the most critical institutional pillars supporting the BRICS bloc’s mission to create a more balanced global financial system. Formally established in 2014 during the BRICS summit in Fortaleza, Brazil, the NDB represents a direct challenge to traditional financial institutions like the International Monetary Fund (IMF) and the World Bank, which have long been perceived by many developing nations as tools of Western economic dominance. With its headquarters in Shanghai, China, the NDB was conceived to provide an alternative financing mechanism, offering developing countries access to much-needed capital without the stringent political and economic conditions often imposed by Western-controlled financial institutions.
The NDB’s creation was driven by a growing consensus among BRICS nations that existing global financial institutions were not adequately addressing the developmental needs of the Global South. For decades, developing countries have criticized the IMF and World Bank for enforcing neoliberal economic policies—such as austerity measures, privatization, and trade liberalization—as conditions for receiving loans. These policies, while aimed at stabilizing economies and promoting growth, have often led to deepened inequality, reduced public spending on essential services, and increased dependence on foreign capital. The NDB, by contrast, seeks to offer more flexible, equitable, and less intrusive financial assistance tailored to the specific needs of developing countries.
In its founding agreement, the NDB outlined its core mission: financing infrastructure and sustainable development projects in BRICS countries and other emerging economies. This focus on infrastructure is particularly significant, as many developing nations face severe infrastructure deficits that hamper their economic growth and ability to integrate into the global economy. Roads, bridges, energy plants, ports, and digital networks are essential for modern economic development, and the NDB aims to close this gap by providing financing for large-scale, long-term infrastructure projects. In doing so, the bank is positioning itself as a crucial player in the global effort to address the infrastructure needs of the Global South.
In addition to infrastructure, the NDB has emphasized sustainability as a guiding principle of its lending activities. The bank’s commitment to funding environmentally sustainable projects sets it apart from many other financial institutions that have been criticized for supporting projects harmful to the environment. The NDB’s focus on sustainability aligns with the broader global push toward a green economy, in which developing countries are playing an increasingly central role. By financing renewable energy projects, climate change adaptation initiatives, and sustainable urban development, the NDB is helping to promote an environmentally friendly path to development, which is crucial in the context of global climate change.
Since its inception, the NDB has approved dozens of major projects, with billions of dollars allocated to various infrastructure and development initiatives across BRICS countries. For example, in Brazil, the NDB has financed renewable energy projects aimed at increasing the country’s share of wind and solar power in its energy mix. In India, the bank has provided funding for infrastructure development, including roads and water supply systems, helping to modernize the country’s rapidly growing urban areas. In South Africa, the NDB has supported projects to upgrade critical infrastructure, including the country’s power grid, which has faced significant challenges in recent years.
The NDB’s decision-making structure reflects its commitment to fairness and equality among its members. Unlike the IMF and World Bank, where voting power is based on financial contributions, giving Western countries disproportionate influence, the NDB operates on a more democratic model. Each founding member of the NDB—Brazil, Russia, India, China, and South Africa—has equal voting power, ensuring that no single country can dominate the bank’s decisions. This structure promotes a more inclusive and representative approach to global finance, where the interests of developing countries are given equal weight.
The NDB’s role in promoting de-dollarization is another key element of its broader strategy to reshape the global financial order. One of the long-standing grievances of many developing countries has been the dominance of the US dollar in international trade and finance, which has given the United States significant leverage over the global economy. By promoting the use of local currencies in its lending activities, the NDB is seeking to reduce reliance on the dollar and empower BRICS countries and other emerging economies to trade and conduct financial transactions in their own currencies. This move is part of a larger effort by BRICS nations to create a multipolar financial system that is less dependent on the economic policies of Western powers.
In recent years, the NDB has also expanded its membership, inviting other emerging economies to join the institution. In 2021, the bank added Bangladesh, the United Arab Emirates, and Uruguay as new members, reflecting its growing global influence and its commitment to expanding its reach beyond the core BRICS nations. This expansion is significant because it indicates the NDB’s potential to become a truly global financial institution that can compete with the IMF and World Bank on a larger scale. By including countries outside the BRICS bloc, the NDB is positioning itself as a leader in the broader effort to create a more equitable and inclusive global financial system.
However, the NDB faces several challenges as it continues to grow and evolve. One of the primary challenges is ensuring that the bank’s projects are effective in promoting development and reducing poverty. While the NDB has made significant strides in financing infrastructure projects, it must also ensure that these projects deliver tangible benefits to the populations of the countries where they are implemented. This requires careful project selection, rigorous oversight, and a commitment to transparency and accountability.
Another challenge facing the NDB is navigating the complex geopolitical landscape in which it operates. The bank was founded at a time of increasing tensions between the BRICS countries and Western powers, particularly the United States. As the NDB expands its influence, it may face pushback from Western financial institutions and governments that see the bank as a threat to their dominance in global finance. Additionally, the NDB must balance the sometimes competing interests of its member countries, each of which has its own economic and geopolitical priorities.
Despite these challenges, the NDB’s potential to reshape the global financial order is undeniable. As the BRICS bloc continues to gain momentum in its efforts to promote multipolarity, the NDB will play a crucial role in providing the financial support needed to advance the development goals of emerging economies. The bank’s focus on infrastructure, sustainability, and financial independence aligns with the broader goals of the BRICS countries to create a more just and equitable global system. By offering an alternative to the IMF and World Bank, the NDB is helping to level the playing field for developing countries, giving them greater control over their economic destinies.
In conclusion, the New Development Bank represents a pivotal institution in the ongoing efforts to challenge the dominance of Western financial institutions and create a more inclusive global financial system. Through its emphasis on infrastructure, sustainability, and de-dollarization, the NDB is providing developing countries with the tools they need to achieve economic growth and development on their own terms. As the bank continues to expand and evolve, it will play an increasingly important role in shaping the future of global finance, helping to promote a more balanced and multipolar world.
