The 17th BRICS Summit in Rio de Janeiro: A Reflection of Global South’s Diversity and Challenges

• Primarily in Asia, Africa, and Latin America, struggles against global inequalities.
• Aims to transform a Western-dominated world order through ‘South-South cooperation’.
• Roots in initiatives like the Bandung Conference of 1955 and the Non-Aligned Movement (NAM).
BRICS’s Evolution
• Comprises 35% of the global economy and almost half of the world’s population.
• Aims to foster economic, political, and social cooperation among members.
• Initiatives like the New Development Bank (NDB) and the Contingent Reserve Arrangement (CRA) offer alternatives to Western-dominated financial institutions.
Priorities and Realities
• BRICS members’ diverse regional contexts and priorities.
• Brazil’s focus on environmental issues and sustainable development.
• India’s emphasis on technology and services.
• China’s Belt and Road Initiative, despite concerns about debt dependency.
• Russia’s inclusion in BRICS.
BRICS’s Future
• Faces significant obstacles, including the U.S. dollar as the world’s principal reserve currency.
• Faces contradictions mirroring broader challenges in South-South cooperation.
• Western powers continue to observe BRICS’ growth.