BRICS' Growing Influence
· diy
BRICS’ Rising Tides Won’t Drown the US Dollar Yet
The recent gathering of BRICS nations in New Delhi marked a significant milestone in the grouping’s expansion plans. With 11 member states and several partner countries, including Malaysia, Thailand, and Vietnam, BRICS has been touted as a potential challenger to the US-led world order. However, beneath the surface, the rhetoric surrounding BRICS’ goals reveals a more nuanced reality.
The New Delhi summit emphasized “modest” reforms in the global economic system, a far cry from the revolutionary changes some critics had predicted. Instead, BRICS seems focused on incremental adjustments aimed at addressing long-standing grievances against Western-dominated institutions. The absence of concrete plans for de-dollarisation underscores this measured approach.
Sarang Shidore, director of the Global South Program at the Quincy Institute in Washington DC, described BRICS as an “interesting experiment” worth studying. His comments highlight the grouping’s unique dynamics, which blur the lines between cooperation and competition. The relationship between China and India, for instance, is a delicate dance with implications far beyond BRICS’ own borders.
The expansion of BRICS membership into Southeast Asia raises questions about ASEAN’s place in the regional landscape. Some argue that ASEAN should be more proactive in engaging with BRICS, while others caution against getting too close to what they see as a rival bloc. This debate highlights the complex web of alliances and interests at play in the region.
The US remains wary of BRICS’ growing influence. Trump’s criticisms notwithstanding, it is clear that Washington sees BRICS as a challenge to its dominance. However, the reality on the ground suggests that BRICS is not yet poised to supplant the US dollar or fundamentally alter the global economic order. Instead, the grouping seems content with playing a supporting role in shaping the next chapter of international relations.
As BRICS prepares for its 2027 summit, with China set to assume the chairmanship, attention will focus on Beijing’s priorities and goals. Will this mark a turning point in BRICS’ development or simply another step in its gradual evolution? One thing is certain: as the grouping continues to grow and mature, its implications for the global order will only become more pronounced.
The conversation surrounding BRICS often frames it in terms of East-West rivalry, with some hailing it as a symbol of resistance against Western dominance. However, this narrative overlooks the complex internal dynamics at play within the grouping. Examining these nuances offers a deeper understanding of BRICS’ role in shaping the future of international relations.
Ultimately, BRICS’ rise represents a desire for more inclusive and equitable global governance structures, rather than a challenge to the US dollar or creation of an alternative world order. Whether this vision will ultimately prevail remains to be seen, but one thing is clear: the tides are shifting, and the world would do well to take notice.
Reader Views
- DHDale H. · weekend handyperson
BRICS' expansion plans are a classic case of trying to make an elephant dance through a doorway - it's all about gradual adjustments rather than revolutionary changes. The US should be more concerned with its own economic competitiveness rather than fixating on the BRICS threat. I'd love to see more discussion on how these emerging powers can collaborate with existing institutions, like the ASEAN+3 framework, to drive meaningful reform without creating a new rival bloc. The complexity of regional alliances is fascinating, but ultimately it's about finding ways for all parties to benefit, not just grandstanding about influence.
- TWThe Workshop Desk · editorial
The BRICS gathering in New Delhi may have been framed as a bold challenge to Western dominance, but its incremental reforms reveal a more pragmatic approach. While some hail BRICS as a harbinger of multipolar order, others see it as an inevitable consequence of globalization – the evolution of economic cooperation among nations with common grievances against the status quo. As the grouping continues to expand and solidify alliances, it's crucial to acknowledge the complex interplay between member states' competing interests, lest we overestimate BRICS' transformative potential.
- BWBo W. · carpenter
It's clear BRICS is more interested in tinkering with the system than toppling it entirely. But what about the economic reality on the ground? As someone who's built his business on international trade, I can attest that even modest reforms can have significant ripple effects. The real question is: how will these incremental changes impact supply chains and market dynamics? We need to see more analysis of this kind, rather than just theoretical musings about BRICS' potential to challenge US dominance.