BRICS
Abbreviation | BRICS |
---|---|
Named after | Founder member states' initials (in English) |
Predecessor | BRIC (informal) |
Formation | 16 June 2009 |
Founded at | Yekaterinburg, Russia (1st BRIC summit) |
Type | Intergovernmental organization |
Purpose | Political and economical |
Fields | International Politics |
Membership | 9 member states |
Funding | Member states |
Website | brics-russia2024.ru |
BRICS is an intergovernmental organization comprising Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia, and the United Arab Emirates. Originally identified to highlight investment opportunities,[1] the grouping evolved into a geopolitical bloc, with their governments meeting annually at formal summits and coordinating multilateral policies since 2009. Bilateral relations among BRICS are conducted mainly based on non-interference, equality and mutual benefit.[2]
The founding countries of Brazil, Russia, India, and China held the first summit in Yekaterinburg in 2009, with South Africa joining the bloc a year later.[3][4] Iran, Egypt, Ethiopia, and the United Arab Emirates joined the organisation on 1 January 2024. Saudi Arabia is yet to officially join, but participates in the organisation's activities as an invited nation.[5][6][1]
Combined, the BRICS members encompass about 30% of the world's land surface and 45% of the global population.[a] South Africa has the largest economy in Africa whereas Brazil, India, and China are among the world's ten largest countries by population, area, and gross domestic product (GDP) nominal and by purchasing power parity. All five initial member states are members of the G20, with a combined nominal GDP of US$28 trillion (about 27% of the gross world product), a total GDP (PPP) of around US$57 trillion (33% of global GDP PPP), and an estimated US$4.5 trillion in combined foreign reserves (as of 2018).[8][9]
The BRICS countries are considered the foremost geopolitical rival to the G7 bloc comprising the leading advanced economies, implementing competing initiatives such as the New Development Bank, the BRICS Contingent Reserve Arrangement, the BRICS pay, the BRICS Joint Statistical Publication[10] and the BRICS basket reserve currency.[11]
BRICS has received both praise[12][13] and criticism[14][15][16] from numerous commentators.
History
[edit]Founding
[edit]The term BRIC was originally developed in the context of foreign investment strategies. It was introduced in the 2001 publication, Building Better Global Economic BRICs by then-chairman of Goldman Sachs Asset Management, Jim O'Neill.[17][18]
The foreign ministers of the initial four BRIC General states (Brazil, Russia, India, and China) met in New York City in September 2006 at the margins of the General Debate of the UN Assembly, beginning a series of high-level meetings.[19] A full-scale diplomatic meeting was held in Yekaterinburg, Russia, on 16 June 2009.[20]
The BRIC grouping's 1st formal summit, also held in Yekaterinburg, commenced on 16 June 2009,[21] with Luiz Inácio Lula da Silva, Dmitry Medvedev, Manmohan Singh, and Hu Jintao, the respective leaders of Brazil, Russia, India, and China, all attending.[22] The summit's focus was on improving the global economic situation and reforming financial institutions, and discussed how the 4 countries could better co-operate in the future.[21][22] There was further discussion of ways that developing countries, such as 3/4 of the BRIC members, could become more involved in global affairs.[22]
In the aftermath of the 2009 Yekaterinburg summit, the BRIC nations announced the need for a new global reserve currency, which would have to be "diverse, stable and predictable."[23] Although the statement that was released did not directly criticize the perceived "dominance" of the US dollar – something that Russia had criticized in the past – it did spark a fall in the value of the dollar against other major currencies.[24]
2010 expansion
[edit]In 2010, South Africa began efforts to join the BRIC grouping, and the process for its formal admission began in August of that year.[25] South Africa officially became a member nation on 24 December 2010, after being formally invited by China to join[26] and subsequently accepted by other BRIC countries.[25] The group was renamed BRICS – with the "S" standing for South Africa – to reflect the group's expanded membership.[27] In April 2011, the President of South Africa, Jacob Zuma, attended the 2011 BRICS summit in Sanya, China, as a full member.[28][29][30]
New Development Bank
[edit]In June 2012, the BRICS nations pledged $75 billion to boost the lending power of the International Monetary Fund (IMF). However, this loan was conditional on IMF voting reforms[which?].[31] In March 2013, during the fifth BRICS summit in Durban, the member countries agreed to create a global financial institution to cooperate with the western-dominated IMF and World Bank.[32] They planned to set up this New Development Bank by 2014.[33]
At the BRICS leaders meeting in St Petersburg in September 2013, China committed $41 billion towards the pool; Brazil, India, and Russia $18 billion each; and South Africa $5 billion. China, which held the world's largest foreign exchange reserves and contributed the bulk of the currency pool, wanted a more significant managing role. China also wanted to be the location of the reserve.[34] In October 2013, Russia's Finance Minister Anton Siluanov said that creating a $100 billion in funds designated to steady currency markets would be taken in early 2014. The Brazilian finance minister, Guido Mantega, confirmed that the fund would be created by March 2014.[35] However, by April 2014, the currency reserve pool and development bank had yet to be set up, and the date was rescheduled to 2015.[36]
In July 2014, during the sixth BRICS summit in Fortaleza, the BRICS signed the document to create the US$100 billion New Development Bank (formerly known as the "BRICS Development Bank") and a reserve currency pool worth over another US$100 billion. Documents on cooperation between BRICS export credit agencies and an agreement of cooperation on innovation were also signed.[citation needed] The Fortaleza summit was followed by a BRICS meeting with the Union of South American Nations presidents in Brasilia.[37]
Other initiatives
[edit]Since 2011, the National Institutes of Statistics of the BRICS group of countries (IBGE, Rosstat, the National Bureau of Statistics of China, the Central Statistics Office (India) and Statistics South Africa) produce an annual joint statistical publication to put statistical production in perspective, compare adopted methodologies and statistical results. The publication serves as a single data platform for the mutual benefit of participating countries.
Since 2012, the BRICS group of countries has been planning an optical fiber submarine communications cable system to carry telecommunications between the BRICS countries, known as the BRICS Cable.[38] Part of the motivation for the project was the spying of the U.S. National Security Agency on all telecommunications that flowed in and out of United States territory.[39] As of 2023, construction of the proposed cable network had not started.[citation needed]
In August 2019, the communications ministers of the BRICS countries signed a letter of intent to cooperate in the Information and Communication Technology sector. This agreement was signed in the fifth edition of the meeting of communication ministers of countries member of the group[40] held in Brasília, Brazil.
The New Development Bank plans on giving out $15 billion to member states to help their struggling economies. Member countries are hoping for a smooth comeback and a continuation of economic trade pre-COVID-19. The 2020 BRICS summit was held virtually in St. Petersburg, Russia, and discussed how to handle the COVID-19 pandemic and how to fix the multilateral system via reforms.[41] During the 13th BRICS summit, in 2021, Indian Prime Minister Narendra Modi called for a transparent investigation into the origins of COVID-19 under the World Health Organization with the full cooperation of "all countries", and Chinese leader Xi Jinping spoke directly afterwards, calling on BRICS countries to "oppose politicisation" of the process.[42]
In May 2023, South Africa announced that they would be giving diplomatic immunity to Vladimir Putin and other Russian officials so that they could attend the 15th BRICS Summit despite the ICC arrest warrant for Putin.[43][44] In July 2023, the Russian president announced that he will not personally attend the BRICS summit in Johannesburg on 22–24 August despite good relations with the South African government. Russian news channels noted that Putin will remotely participate online in all BRICS leaders' sessions, including its Business Forum, and also deliver his remarks virtually.[45]
2024 expansion
[edit]In August 2023, at the 15th BRICS Summit, South African President Cyril Ramaphosa announced that 6 emerging market group countries (Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates) had been invited to join the bloc. Full membership was scheduled to take effect on 1 January 2024.[46][47][48] However, the Argentine general election in November 2023 led to a change in president to Javier Milei, who had committed to withdraw the country's membership application.[49] On 30 November 2023, incoming Foreign Minister of Argentina Diana Mondino confirmed that Argentina would not join the BRICS.[50] On 29 December 2023 the Government of Argentina sent a letter to all BRICS leaders to officially announce its withdrawal from the application process.[51]
Saudi Arabia did not join BRICS at the start of 2024 as had been planned, and they announced in mid-January that they were still considering the matter.[52] As of April 2024, the matter is still under consideration.[53] The organizers touted the expansion as part of a plan to build a competing multipolar world order that uses Global South countries to challenge and compete against the western-dominated world order that is led by western countries.[54] China Daily used the expansion to claim that more developing countries were interested in joining BRICS.[55] Despite this, Brazil and India have recently been building relations with western countries and have joined with competing western-led groups like OECD.[56][57]
Summits
[edit]The grouping has held annual summits since 2009, with member countries taking turns to host. Before South Africa's admission, two BRIC summits were held, in 2009 and 2010. The first five-member BRICS summit was held in 2011. The most recent BRICS leaders' summit took place virtually on 23 June 2022 hosted by China.[58][59] India hosted the BRICS 2021 summit in New Delhi and, amid tensions with China, Chinese leader Xi Jinping had made a soft move by supporting India's Chairmanship in 2021.[60]
No. | Dates | Host country | Host leader | Location | Notes |
---|---|---|---|---|---|
1st | 16 June 2009 | Russia | Dmitry Medvedev | Yekaterinburg (Sevastianov's House) | The summit was to discuss the global recession taking place at the time, future cooperation among states, and trade. Some of the specific topics discussed were food, trade, climate trade, and security for the members. They called out for a more influential voice and representation for up-and-coming markets. Note at the time South Africa was not yet admitted to the BRICS organization at the time.[61] |
2nd | 15 April 2010 | Brazil | Luiz Inácio Lula da Silva | Brasília (Itamaraty Palace) | Guests: Jacob Zuma (President of South Africa) and Riyad al-Maliki (Foreign Minister of the Palestinian National Authority). The second summit continued on the conversation of the global recession and how to recover. They had a conversation on the IMF, climate change, and more ways to form cooperation among states.[61] |
3rd | 14 April 2011 | China | Hu Jintao | Sanya (Sheraton Sanya Resort) | First summit to include South Africa alongside the original BRIC countries. The third summit had members debating on the global and internal economies of countries.[61] |
4th | 29 March 2012 | India | Manmohan Singh | New Delhi (Taj Mahal Hotel) | The BRICS Cable announced an optical fibre submarine communications cable system that carries telecommunications between the BRICS countries. The fourth summit discussed how the organization could prosper from the global recession and how they could take advantage of that to help their economies. BRICS had the intention of improving their global power and providing adequate development for their state.[62] |
5th | 26–27 March 2013 | South Africa | Jacob Zuma | Durban (Durban ICC) | The fifth summit discusses the New Development Bank proposition and Contingent Reserve Agreement. BRICS also announced the Business Council and its Think Tank Council.[62] |
6th | 14–17 July 2014 | Brazil | Dilma Rousseff | Fortaleza (Centro de Eventos do Ceará)[63] | BRICS New Development Bank and BRICS Contingent Reserve Arrangement agreements signed.[64] The members of BRICS conversed with each other about political coordination, development, and economic growth. They established the Fortaleza Declaration and Action Plan.[61] |
7th | 8–9 July 2015 | Russia | Vladimir Putin | Ufa (Congress Hall)[65] | Joint summit with SCO-EAEU. The seventh summit discussed global, economic problems, and better ways to foster cooperation among member states.[61] |
8th | 15–16 October 2016 | India | Narendra Modi | Benaulim (Taj Exotica) | Joint summit with BIMSTEC. The eighth BRICS summit debated on topics like counterterrorism, economies, and climate change. BRICS also issued the Goa Declaration and Action Plan, hoping to harden their relationships.[61] |
9th | 3–5 September 2017 | China | Xi Jinping | Xiamen (Xiamen International Conference Center) | Joint summit with EMDCD. The ninth summit was an event that talked about a bright future for BRICS and what their goals intend to be. They still covered and debated international and regional issues with one another; hopeful to keep moving forward.[61] |
10th | 25–27 July 2018 | South Africa | Cyril Ramaphosa | Johannesburg (Sandton Convention Centre) | The tenth summit had the members discuss their rising industries. Hoping they can cut a bigger slice of the industry market. |
11th | 13–14 November 2019 | Brazil | Jair Bolsonaro | Brasília (Itamaraty Palace)[60] | The eleventh summit discussed advancements in the BRICS's science and innovation fields. Primarily trying to advance technology and digital currency. They made mutual agreements to help stop drug trafficking and organized crime; both internationally and internally |
12th | 21–23 July 2020 (postponed due to COVID-19 pandemic)[66] 17 November 2020 (video conference)[67] |
Russia | Vladimir Putin | Saint Petersburg[68] | Joint summit with SCO. Discussing a mutual agreement on helping BRICS member countries to foster better living standards and quality of life for each country's people. Plans on focusing on peace, economies, and cultural societal issues.[69] |
13th | 9 September 2021 (video conference) | India | Narendra Modi | New Delhi | BRICS Games 2021[70] |
14th | 23 June 2022 (video conference) | China | Xi Jinping | Beijing | A major development on the summit was the creation of a new, basket type reserve currency. The currency, which is challenging the US dollar, combines BRICS currencies and is backed by precious metals. |
15th | 22–24 August 2023 | South Africa | Cyril Ramaphosa | Johannesburg (Sandton Convention Centre) | Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates were invited to join the bloc. Full membership was scheduled to take effect on 1 January 2024.[47][48] On December 29, 2023, the Government of Argentina sent a letter to all BRICS leaders officially declining the invitation to join the bloc.[51] Saudi Arabia has not yet confirmed its acceptance.[71] |
16th | 22–24 October 2024 | Russia | Vladimir Putin | Kazan | [72] |
17th | TBD 2025 | Brazil | Luiz Inácio Lula da Silva | TBD | [73] |
Member states
[edit]Flag | Country |
Capital |
Area (km2) |
Population (2024) |
Nominal GDP (USD million)[74] | PPP GDP (Int$ million)[74] | Nominal GDP per capita ($)[74] | PPP GDP per capita (Int$)[74] | HDI[75] | Currency |
Official languages | Leaders | Accession |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Brazil Federative Republic of Brazil |
Brasília | 8,515,767 | 210,306,415 | 2,331,391 | 4,273,668 | 11,352 | 20,809 | 0.760 | Brazilian real (R$) (BRL) |
Portuguese also see Languages of Brazil |
Head of State and Government: Luiz Inácio Lula da Silva | September 2006 | |
Russia Russian Federation |
Moscow | 17,075,400 | 145,579,899 | 2,056,844 | 5,472,880 | 14,391 | 38,292 | 0.821 | Russian rouble (₽) (RUB) |
Russian also see Languages of Russia |
Head of State: Vladimir Putin Head of Government: Mikhail Mishustin |
September 2006 | |
India Republic of India |
New Delhi | 3,287,240 | 1,425,423,212 | 3,937,011 | 14,594,460 | 2,731 | 10,123 | 0.644 | Indian rupee (₹) (INR) |
Hindi (Devanagari script) English Also see Languages of India |
Head of State: Droupadi Murmu Head of Government: Narendra Modi |
September 2006 | |
China[b] People's Republic of China |
Beijing | 9,640,011[c] | 1,425,179,569 | 18,532,633 | 35,291,015 | 13,136 | 25,015 | 0.788 | Renminbi (Chinese yuan, ¥) (CNY) |
Standard Chinese[76] written in simplified characters[76] see also languages of China |
Paramount leader[d] and State Representative[e]: Xi Jinping Head of Government: Li Qiang |
September 2006 | |
South Africa Republic of South Africa |
Pretoria (executive) Cape Town (legislative) Bloemfontein (judicial) |
1,221,037 | 62,378,410 | 373,233 | 1,025,930 | 5,975 | 16,424 | 0.717 | South African rand (R) (ZAR) |
12 languages | Head of State and Government: Cyril Ramaphosa | 24 December 2010 | |
Egypt Arab Republic of Egypt |
Cairo | 1,010,408 | 112,618,250 | 347,594 | 1,898,538 | 3,225 | 17,614 | 0.728 | Egyptian pound (LE) (EGP) |
Arabic | Head of State: Abdel Fattah el-Sisi Head of Government: Moustafa Madbouly |
1 January 2024 | |
Ethiopia Federal Democratic Republic of Ethiopia |
Addis Ababa | 1,104,300 | 125,384,287 | 205,130 | 431,688 | 1,910 | 4,019 | 0.492 | Ethiopian birr (BR) (ETB) |
Afar Amharic Oromo Somali Tigrinya |
Head of State: Sahle-Work Zewde Head of Government: Abiy Ahmed |
1 January 2024 | |
Iran Islamic Republic of Iran |
Tehran | 1,648,195 | 89,524,246 | 464,181 | 1,854,845 | 5,310 | 21,219 | 0.780 | Iranian rial (Rl) (IRR) |
Persian | Head of State: Ali Khamenei Head of Government: Masoud Pezeshkian |
1 January 2024 | |
United Arab Emirates | Abu Dhabi | 83,600 | 10,242,086 | 527,796 | 948,045 | 53,916 | 96,846 | 0.937 | UAE dirham (AED) | Arabic | Head of State: Mohamed bin Zayed Al Nahyan Head of Government: Mohammed bin Rashid Al Maktoum |
1 January 2024 |
Application and expansion process
[edit]While there is currently no formal application process to join BRICS, any hopeful government must receive the unanimous backing of all member states to receive an invitation. It was not until the early 2020s that discussions regarding allowing new states to join the club were widely held. Leaders and senior diplomats from the participating members began to discuss the prospect of adding additional members to the organization at that point.[77][78][79]
In August 2023, at the 15th BRICS Summit, South African President Cyril Ramaphosa announced that Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates had been invited to join the organization on 1 January 2024.[47][48]
On 30 December 2023, the new government of Argentina, which formally applied for BRICS membership under Alberto Fernández's government in 2022, officially declined the offer to join the bloc due to the new government's different foreign policy.[50][80]
On 1 January 2024, Egypt, Ethiopia, Iran, and the United Arab Emirates officially joined the bloc.
On 2 September 2024, Turkey officially applied to join the bloc.[81] At the same time, Turkey is a NATO member and the European Union candidate country. Turkey has been a NATO member since 18 February 1952.[82] Turkey's EU membership process started on 3 October 2005. The membership process was frozen on 13 March 2019.[83] In September 2022, Turkish President Recep Tayyip Erdoğan announced that his country would apply for membership in the Shanghai Cooperation Organisation.[84] On 11 July 2024, President Recep Tayyip Erdoğan stated in a statement to the U.S. Newsweek magazine that they did not consider Turkey's membership in NATO as an alternative to the Shanghai Cooperation Organisation and BRICS.[85]
Algeria previously applied for membership in 2023,[86] but later rejected it in September 2024, making Algeria the second country after Argentina to decline and stop its application.[87]
Potential candidates for future membership
[edit]The following countries have either expressed interest in joining BRICS or have already applied for membership:
Africa |
Americas |
Asia |
Europe |
1 - Officially applied for membership[134]
2 - Officially invited to join, but have yet to make a formal decision
Financial architecture
[edit]The financial architecture of BRICS is made of the New Development Bank (NDB) and the Contingent Reserve Arrangement (CRA). These components were signed into a treaty in 2014 and became active in 2015.
New Development Bank
[edit]The New Development Bank (NDB), formally referred to as the BRICS Development Bank,[135] is a multilateral development bank operated by the five BRICS states. The bank's primary focus of lending is infrastructure projects[136][137] with authorized lending of up to $34 billion annually.[137] South Africa hosts the African headquarters of the bank.[138] The bank has a starting capital of $50 billion, with wealth increased to $100 billion over time.[139] Brazil, Russia, India, China, and South Africa initially contributed $10 billion each to bring the total to $50 billion.[138][139] As of 2020, it had 53 projects underway worth around $15 billion.[140]
In 2021, Bangladesh, Egypt, the United Arab Emirates and Uruguay joined the NDB.[141]
BRICS Contingent Reserve Arrangement
[edit]The BRICS Contingent Reserve Arrangement (CRA) is a framework for protecting against global liquidity pressures.[136][139][142] This includes currency issues where members' national currencies are being adversely affected by global financial pressures.[136][142] Emerging economies that experienced rapid economic liberalization went through increased economic volatility, bringing an uncertain macroeconomic environment.[143] The CRA competes with the International Monetary Fund (IMF). Along with the New Development Bank, it is an example of increasing South-South cooperation.[136] It was established in 2015 by the BRICS countries. The legal basis is formed by the Treaty for the Establishment of a BRICS Contingent Reserve Arrangement, signed in Fortaleza in July 2014. With its inaugural meetings of the BRICS CRA Governing Council and Standing Committee, held on 4 September 2015, in Ankara, Turkey[144] It entered into force upon ratification by all BRICS states, announced at the 7th BRICS summit in July 2015.
BRICS payment system
[edit]At the 2015 BRICS summit in Russia, ministers from the BRICS states initiated consultations for a payment system that would be an alternative to the SWIFT system. The stated goal was to initially move to settlements in national currencies.[145] The Central Bank of Russia highlighted the main benefits as backup and redundancy in case there were disruptions to the SWIFT system.[146]
China also launched its alternative to SWIFT: the Cross-Border Interbank Payment System, which enables financial institutions worldwide to send and receive information about financial transactions.[147] India also has its alternative Structured Financial Messaging System (SFMS), as do Russia SPFS and Brazil Pix.[citation needed]
Potential common currency
[edit]BRICS countries committed to study the feasibility of a new common currency or similar, at the 2023 BRICS summit in South Africa.[148][149][150] Fair and easier international trade as well as a major reduction in costs of transactions would be some of the reasons why the countries could forge a currency union.[151]
Reception
[edit]In 2012, Hu Jintao, the then General Secretary of the Chinese Communist Party and President of China, described the BRICS countries as defenders and promoters of developing countries and a force for world peace.[152] Western analysts have highlighted potential divisions and weaknesses in the grouping, including significant economic instabilities,[153][154][155][156] disagreements among the members over UN Security Council reform,[157] and India and China's disputes[158] over territorial issues.[159]
On 9 April 2013, Isobel Coleman, director of the Civil Society, Markets, and Democracy Program at the American think tank Council on Foreign Relations, and later U.S. representative to the UN, claimed that the BRICS members share a lack of consensus. They uphold drastically different political systems, from a vibrant democracy in Brazil to entrenched oligarchy in Russia, and their economies are little integrated and are different in size by orders of magnitude. She also claimed that the significant difference in GDP influences the reserves: China accounts for over 41% of the contribution, which in turn leads to its bigger political say within the association.[160]
In 2014, the Indian Marxist author Vijay Prashad raised the limitations of the BRICS as a political and economic "locomotive of the South" because they follow neoliberal policies. They have established neither new counter-balancing institutions nor come up with an alternative ideology. Furthermore, the BRICS project, argues Prashad, cannot challenge the primacy of the United States and NATO.[161]
A multi-year study at Tufts University published in July 2023 found that the "common portrayal of BRICS as a China-dominated group primarily pursuing anti-U.S. agendas" was misplaced. The study asserted: "The BRICS countries connect around common development interests and a quest for a multipolar world order in which no single power dominates. Yet BRICS consolidation has turned the group into a potent negotiation force that now challenges Washington's geopolitical and economic goals".[162]
After the August 2023 BRICS Summit, Con Coughlin—defense and foreign affairs editor at The Daily Telegraph—claimed "the challenge BRICS presents to the established world order seems destined to failure" and accused the organization of being used by China as a vehicle for expanding its global influence. Coughlin also noted the contradictions within the organization, such as the border dispute between China and India, and called for greater Western engagement with India as part of a new strategic alliance.[16]
According to the Atlantic Council's Thomas Hill in December 2023, the de-dollarization efforts within BRICS, particularly in North Africa, present a significant challenge to US interests. The inclusion of Egypt and the enthusiasm in Algiers and Tunis suggest that North African states may actively support BRICS's priority of de-dollarization. This poses a threat to the US, as a coordinated de-dollarization effort in the region could diminish American influence and impact existing trade agreements. The expansion of BRICS raises concerns for US policymakers, given the group's commitment to global de-dollarization, which aims to replace the dollar with the "R5" or "the renminbi, ruble, rupee, real, and rand", or with other multilateral central bank digital currency (CBDC) as the new global currency. This shift could limit the US's ability to run deficits and maintain low interest rates. Moreover, de-dollarization would undermine the effectiveness of US sanctions, relying on the SWIFT system, as BRICS seeks alternative financial systems, potentially making SWIFT obsolete.[163]
According to a Gallup International poll conducted between October and December 2023, almost a third of people around the world had never heard of BRICS but Western countries were much more negative towards the alliance than elsewhere. The most negative attitudes were found in Sweden (45%), Spain (30%), the USA (30%), Portugal (29%), and Ukraine (29%) while the most positive net attitudes were in Russia (38%), Iran (37%), Nigeria (36%), Saudi Arabia (33%) and Malaysia (32%). In India, 36% had a positive view of BRICS while 29% had a negative view.[164][165]
BRICS Pro Tempore Presidency
[edit]The group at each summit elects one of the heads of state of the component countries to serve as President Pro Tempore of the BRICS.
In 2019, the pro tempore presidency was held by the president of Brazil.[166]
The theme of the 11th BRICS summit was "BRICS: economic growth for an innovative Future", and the priorities of the Brazilian Pro Tempore Presidency for 2019 are the following – Strengthening the cooperation in Science, technology, and innovation; Enhancement of the cooperation on digital economy; Invigoration of the cooperation on the fight against transnational crime, especially against organized crime, money laundering, and drug trafficking; Encouragement to the rapprochement between the New Development Bank (NDB) and the BRICS Business Council.[60]
Currently, the new President Pro Tempore is from Russia and their goals are: investing in BRICS countries to strengthen everyone's economies, cooperating in the energy and environmental industries, helping with young children, and coming up with resolutions on migration and peacekeeping.[167]
Current leaders
[edit]Current leading highest state representatives:
See also
[edit]- Belt and Road Initiative – Chinese global infrastructure project
- BRICS Games – Multi-sport event involving athletes from the BRICS Nations
- Developing country – Nation with a lower living standard relative to more developed countries
- East–West dichotomy – Perceived difference between the Eastern and Western worlds
- Emerging power – Nation or block with steadily rising influence in world affairs
- List of BRICS summit attendees
- List of country groupings
- List of multilateral free-trade agreements – Free trade agreements list
- MIKTA – Informal partnership between Mexico, Indonesia, South Korea, Turkey and Australia
- G7 – Intergovernmental political and economic forum
- Potential superpowers – Entity speculated to be or become a superpower
- Shanghai Cooperation Organisation – Eurasian multilateral security organization
Notes
[edit]- ^ The BRICS have a combined area of 44,300,000 km2 (17,100,000 sq mi) and an estimated total population of about 3.67 billion.[7]
- ^ The sovereignty of China is disputed. Since the conclusion of the Chinese Civil War, the Republic of China on Taiwan still views itself as the continuation of the former Chinese republic, with legitimate sovereignty over mainland China despite no actual control. See: Political status of Taiwan, Retreat of the Republic of China to Taiwan, Four-Stage Theory of the Republic of China, Two Chinas, One-China policy, and Cross-strait relations.
- ^ The actual area under PRC control is 9,596,960.
- ^ a b The de jure head of government of China is the Premier, whose current holder is Li Qiang. The President of China is legally a ceremonial office and has no real power in China's political system. However, the General Secretary of the Chinese Communist Party (de facto leader) has always held this office since 1993 except for the months of transition, and the current paramount leader is Xi Jinping.
- ^ China does not have a head of state constitutionally, but a "state representative". While the presidency has many of the characteristics of the head of state, the Chinese constitution does not define it as such.
References
[edit]- ^ a b "Goldman's BRIC Era Ends as Fund Folds After Years of Losses". Bloomberg. 8 November 2015. Archived from the original on 31 January 2023. Retrieved 10 November 2022.
- ^ Gutemberg Pacheco Lopes Junior. "The Sino-Brazilian Principles in a Latin American and BRICS Context: The Case for Comparative Public Budgeting Legal Research; Wisconsin International Law Journal; 13 May 2015" (PDF). University of Wisconsin Law School. Archived (PDF) from the original on 30 September 2021. Retrieved 7 September 2016.
- ^ "What is BRICS, which countries want to join and why?". Reuters. Archived from the original on 18 November 2023. Retrieved 8 February 2024.
- ^ Oliver Stuenkel (2020). The BRICS and the Future of Global Order (2 ed.). Lexington Books. p. 1. ISBN 978-0739193211.
- ^ "BRICS expansion: five countries join ranks". Africa News. 2 January 2024. Archived from the original on 4 January 2024. Retrieved 4 January 2024.
- ^ "Iran, UAE, Egypt and Ethiopia join BRICS". The Jerusalem Post | JPost.com. 3 January 2024. Archived from the original on 3 January 2024. Retrieved 9 January 2024.
- ^ "Total Population – Both Sexes". World Population Prospects, the 2019 Revision. United Nations Department of Economic and Social Affairs, Population Division, Population Estimates and Projections Section. June 2019. Archived from the original on 18 February 2020. Retrieved 17 June 2019.
- ^ "Report for Selected Countries and Subjects". IMF. Archived from the original on 30 April 2023. Retrieved 17 April 2023.
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- ^ "BRICS Joint Statistical Publications". Federal State Statistics Service. Archived from the original on 17 January 2024.
- ^ Raimondi, Paolo (2 September 2023). "BRICS: The role of the unit of account for the new "basket of currencies"". India Foundation. Archived from the original on 4 October 2023.
- ^ "ILO head praises BRICS countries' commitment to social dialogue". ILO. 3 August 2018. Archived from the original on 25 August 2023. Retrieved 25 August 2023.
- ^ Wolff, Richard D. (3 October 2022). "BRICS: the powerful global alliance". canadiandimension.com. Archived from the original on 25 August 2023. Retrieved 25 August 2023.
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External links
[edit]- Media related to BRICS at Wikimedia Commons
- Quotations related to BRICS at Wikiquote
- BRICS information portal
- BRICS India 2021
- BRICS China 2022
- BRICS South Africa 2023
- Learn about BRICS - Institute of Applied Economic Research
- 2000s neologisms
- 2009 in international relations
- BRICS
- Brazil–China relations
- Brazil–India relations
- Brazil–Russia relations
- Brazil–South Africa relations
- China–India relations
- China–Russia relations
- China–South Africa relations
- Economic country classifications
- India–Russia relations
- India–South Africa relations
- International economic organizations
- International political organizations
- Multilateral relations of Brazil
- Multilateral relations of China
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- Multilateral relations of Russia
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- Organizations established in 2009
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