Can BRICS Rise in a World Threatened by War?

After being long ignored by the West, BRICS—the intergovernmental organization uniting Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia, and the United Arab Emirates—generated enormous interest during its summit last year in Johannesburg, South Africa. That summit marked BRICS’s biggest expansion to date, with invitations sent to Egypt, Ethiopia, Iran, the United Arab Emirates, Argentina, and Saudi Arabia. (Argentina later declined and Saudi Arabia is still undecided.) But Johannesburg’s deeper message was the renewed assertion of the Global South.

BRICS leaders will soon meet again in Kazan, Russia, for their 16th summit. Writing here last year on the eve of Johannesburg, I had characterized BRICS as a coalition between the “Global East” (comprised of China and Russia) and the Global South, with its expansion a strong signal of the developing world’s deep dissatisfaction with the failures of the US-led order. A year later, BRICS is becoming even more attractive across the Global South, even as the world is increasingly at risk of major-power war.

Continuing the Enlargement

BRICS holds promise on two fronts. The first is its expansion itself, which speaks to the organization’s dynamism and wide appeal. The second is its attempt at problem-solving—chiefly on development finance and alternative currencies.

The induction of new members set in motion in Johannesburg has unfolded rather smoothly: Egypt, Ethiopia, Iran, and the UAE joined on schedule at the beginning of this year. BRICS’s newly inducted members come with many potential benefits. The energy-rich UAE brings finance, deep pockets, and a dynamic start-up culture. Egypt occupies a special and prominent place among Arab states. Ethiopia and Egypt are also, respectively Africa’s second- and third-most-populous countries. Iran, though sanctioned and currently in conflict with Israel, is another energy-rich regional power.