CAN
BRICKS BRING A SEA CHANGE IN
GLOBAL POLITICS?
Russian President Vladimir Putin hosted a three-day annual
summit of the BRICKS group, an alliance of emerging economies in the
southwestern Russian city of Kazan from October 22-24. Kazan is also called the
third capital of Russia due to its beautiful Kremlin and mosque, and it is a
major tourist attraction. This alliance aims to challenge the economic and
political monopoly of the West and to disillusion with Western-led institutions
of global governance in the matter of economy.
This annual summit was attended by more than 20 world leaders
including India, China, and Iran. This time, US partners like Egypt also
joined. NATO ally Turkey is
also in the race to join BRICS. Others attending the event included Palestinian
President Mahmoud Abbas and the leaders of Algeria, Azerbaijan, Belarus,
Indonesia, and Mexico.
BRICS is
being held at a time when on the one hand the Kremlin is embroiled in a
Western-backed war against Ukraine and on the other hand, it is challenging the
dominance of Western countries in the field of trade. The
group sets priorities and discusses them during a summit held annually, hosted
by members in turn. This summit is the 16th held.
WHAT IS BRICS?
In the beginning, it was started with four members: Brazil,
Russia, India, and China, and was named BRIC. Its headquarters are in Shanghai
(China). The BRICS countries function as an organization that seeks to advance
economic cooperation among member countries and enhance the economic and
political standing of its member countries.
The term BRICS was proposed by Goldman Sachs economist Jim
O’Neill in 2001 when South Africa was accepted as a full member in September
2010 and after this, its name was changed to BRICS. However, now it has a total
of 10 full members. The new full members are Egypt, Ethiopia, Iran, Saudi
Arabia, and the United Arab Emirates.
Muslim and African countries are getting attracted to this organization. Now, it has become a group that could potentially challenge institutions such as the G7, the European Union, and the North Atlantic Treaty Organization (NATO). Its headquarters are in Shanghai (China).
A key objective of the summit was to accelerate ways to reduce
the number of dollar transactions and reduce the US's ability to impose its
political will using the threat of sanctions. Putin said in talks with Dilma
Rousseff, president of the BRICS New Development Bank that using local
currencies instead of the dollar or euro "helps keep economic development
as free from politics as possible in today's world context." Russia claims
that this group now represents a global majority that could become an important
element of the coming new global order.
The declaration issued in BRICS also indirectly mentions the economic sanctions imposed by the West. According to the declaration, "We are deeply concerned about the divisive impact of illegal unilateral measures, including illegal sanctions, on the world economy, international trade and the achievement of sustainable development goals. These undermine the UN Charter, the multilateral trading system, sustainable development and environmental agreements. They also have a negative impact on economic growth, energy, health, and food security, thereby increasing poverty and environmental challenges."
Not much has been said about the Ukraine dispute in the declaration, but the Palestine-Israel conflict has been mentioned in detail and a demand has been made to implement international law there. There is also talk of giving full support to a separate Palestine nation. Also, concern has been expressed over the humanitarian tragedy in the Gaza Strip and the West Bank. It is clear that Russia has left no stone unturned in giving a political message through the Kazan Declaration.
HIGHLIGHTS
1. The
existing New Development Bank (NDB) created by the BRICS countries will be
developed as a new development bank. So that member countries can get more
loans for development work in a transparent manner. NDB will give more loans in
local currency.
2.
Concern over the increasing level of global debt. Marking it as a global
problem, demand to implement the G-20 framework to find a holistic solution to
it.
3.
Cooperation against terrorism will be increased among BRICS countries. Talk of
not supporting terrorism under any circumstances. Call for not having any
double standards in this regard.
4.
Support for removing existing barriers to international trade and implementing
them equally for every country. Call for promoting trade in local currencies
among members, highlighting the need for a faster, cost-effective, more
efficient, secure, and transparent financial payment system.
5.
Finance ministers and central banks of member countries have been directed to
study the new system of transactions and payments in local currency and submit
a report in the next meeting.
6.
Digital connectivity will be promoted. Support for promoting effective global
governance of artificial intelligence and the important role of the United
Nations in this.
7. Urged
all parties involved in the current conflict in West Asia to not escalate it,
and avoid provocative actions against each other and Palestine should get full
membership in the United Nations.
8. Strongly
condemned the Israeli attack on Lebanon, talked about respecting the
sovereignty of Lebanon, and also supported the sovereignty of Syria.
9. Termed
Western sanctions as illegal and unilateral and expressed concern over their
impact on the global economy and international trade.
10.
Supported the BRICS Vaccine Centre to prevent global pandemic. Took cognizance
of India's initiative to form the International Big Cat Alliance.
11. Expressed expectation of more funds for developing countries
in the upcoming climate conference.
COMPERATIVE DETAILSS OF BRICKS COUNTIRES IN POPULATION AND ECONOMY
The
population, gross domestic product (GDP), and exports of BRICS countries as a
share of the world in comparison to the US and Europe can be seen below:
|
|
Population |
GDP |
Exports |
|
India |
18% |
3% |
3 |
|
China |
18% |
17% |
11 |
|
Brazil |
3% |
2% |
1 |
|
Russia |
2% |
2% |
2 |
|
Ethiopia |
2% |
0% |
0 |
|
Egypt |
1% |
0% |
0 |
|
Iran |
1% |
0% |
0 |
|
South Africa |
1% |
0% |
0 |
|
Saudi Arabia |
0% |
1% |
1 |
|
UAE |
0% |
0% |
1 |
|
Europe |
6% |
17% |
31 |
|
United States |
4% |
26% |
10 |
|
Note: Data is for 2023 Source: World Bank TALKS BETWEEN MODI AND XI JINPING  Courtesy: PIB After the Galwan clash in 2020, Modi-Jinping held their first
bilateral meeting in Kazan, which proves that this is a new beginning of
India-China relations. Chinese President Xi Jinping said both China and India
are ancient cultures and important developing countries. It is important for
both sides to have more dialogue and cooperation, properly handle our
differences and disagreements, and meet each other's development aspirations. PM Modi said India-China relations are important for the people
of our countries and for regional and global peace and stability. Mutual trust,
mutual respect, and mutual sensitivity will guide bilateral relations. Apart
from this, the Modi-Xi meeting also took place against the backdrop of an
agreement on disengagement and patrolling on the border. Both the leaders
expressed happiness. Vladimir
Putin put pressure on China to resolve the border dispute with India, which has
been a topic of discussion for the past few months. REACTIONS OF TOP WORLD LEADERS Russian President Putin said, "It would be wrong to ignore
the unprecedented interest of the countries of the Global South and the East in
strengthening proximity with BRICS." He further added that it is also
necessary to maintain a balance and at the same time ensure that the effectiveness
of BRICS does not diminish. Due to the good relations between India and Russia,
India has decided to open an Indian Consulate in Kazan. We welcome this. We
will benefit from India's policies. We are very happy to see Modi and his
delegation in Russia. Indian Prime Minister Narendra Modi said he wants the Ukraine
conflict to be resolved quickly and peacefully. Modi visited Kyiv in August and
Moscow in July to promote talks in which he offered Delhi as a potential
peacemaker, but there has been little progress since then. South African President Cyril Ramaphosa also pledged to play a
mediating role in the conflict. He praised Moscow as a "valuable
ally" and friend "who supported us from the very beginning in the
fight against apartheid". Xi Jinping said that the world is undergoing profound changes
unseen in a century. The international situation appears chaotic, yet we are
all interconnected." China-Russia relations have "provided strong
momentum to the development, revitalization, and modernization of the two
countries." Brazilian President Luiz Inacio Lula da Silva likes to emphasis that
BRICS is "not against anyone." While Russia often seeks to portray
BRICS as a counterweight to the G-7. Lula says it should be a group that is
"not against anyone." Egyptian president Abdel Fattah al-Sisi hailed Russian
support for Egypt’s economic projects. Sisi said Egypt supports BRICS becoming
“a platform capable of confronting the repercussions of international crises”.
POSSIBILITY
OF CHANGE IN GLOBAL POLITICS THROUGH BRICKS? The summit looked at different countries' approaches to the
group and its potential impact on the international system. It represents more
than just the shattered international system. This reflects the growing
resentment among middle powers towards the US-led world order. Over the past two decades, the BRICS group has become a major
political force, based on its desire to counter Western influence in global
institutions. The group's expansion in 2023 exemplifies its growing strength but
also brings new disagreements over issues such as Russia's invasion of Ukraine.
This
organization represents 44 percent of the world's population and more than
one-third of the economy. It is being considered that these countries will
dominate the global economy by 2050. Overall, Russia, which has borne the brunt
of sweeping Western sanctions, has shown that the embattled Kremlin is not
truly isolated.
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