Bracing for Change
The idea of expanding the BRICS group reflects a commitment to true multilateralism
Three of the five permanent members of the United Nations (UN) Security Council that have the veto power are also members of the military alliance North Atlantic Treaty Organization. What impact has this had on the UN’S core role of maintaining peace and stability? In a world that is still witnessing unrest in some parts and battling the COVID-19 pandemic, countries, especially developing countries, should do more to maintain their development in a safe and secure environment.
The BRICS (Brazil, Russia, India, China and South Africa) Foreign Ministers’ Meeting held in May in preparation for the 14th BRICS Summit to be held in China later this year reiterated the importance of the Global Security Initiative put forward by Chinese President Xi Jinping. Amidst the challenges of resolvable conflicts, discriminatory health policies and sanctimonious sanctions, developing nations should strengthen political mutual trust and security cooperation, and maintain close communication and coordination on major international and regional issues, to build solidarity and bring about harmony.
BRICS, which consists of around 40 percent of the world population, or 3.1 billion people, was established to connect the nations of the Global South to overcome the political, financial and economic marginalization that they were being subjected to, and to refocus the globalization trajectory away from protectionism, unilateralism and hegemonic tendencies. At the core of the founding of BRICS was fair, inclusive, just and representative cooperation to harness resources for the benefit of the people through tangible mutual cooperation, and to improve sustainability and equality in the world.
The current geopolitical trend seems to be a result of a knee-jerk reaction, particularly by the Western and developed nations. These countries, ranked amongst the richest countries in the world that have the largest economies and are home to some of the largest multinational corporations and conglomerates, seem to be panicking and becoming paranoid. These nations also consume a disproportionate amount of energy and other resources in comparison to their production and share in global population. The unreasonable imposition of sanctions and confiscation of money and assets has affected supply chains, causing commodity shortages, large price increases and volatility in the markets. The inexplicable restrictions and bans on sports, art and cultural activities among others have set back people-to-people exchanges and put a dent in social and cohesive international relations.
Are these developed nations caught up in a past realm thinking their superiority can never be challenged? Was there a sincere attempt to uplift the less developed countries through aid or was it another form of manipulation and coercion? Have they gotten lost in a changing world as new nations and regions emerge rapidly, transitioning away from the status quo of poverty and underdevelopment?
The Brazilian real, the Russian rouble, the Indian rupee, the Chinese renminbi and the South African rand are the five Rs that make up the currencies of the BRICS countries. The role of these currencies has been thrust to the fore as the nefarious and destabilizing role of the U.S. dollar becomes apparent. The unwarranted and illegal penalties being meted out clearly exposes the double standards that are not only impeding world growth and development, but also plainly showing the delusion of the Western nations of their influence, and the dire need to move away from these regressive and outdated policies.
Saudi Arabia, Argentina and Egypt have shown interest at the expansion of BRICS, which shows the group’s commitment to true multilateralism. Global peace, stability, interdependence, impartiality and objectivity are the meaningful cooperation elements that will allow nations of the Global South to flourish and take control of their destiny and enable them to tackle and overcome the challenges of the inevitable inflection that the world is currently experiencing.