Greater BRICS: Empowering the Global South for a New Era
The world is witnessing a shift in global power dynamics, and at the heart of this change is the expanding BRICS alliance. With the recent additions of Colombia and Uzbekistan to the New Development Bank (NDB), and Vietnam becoming a partner country, BRICS is evolving into a more inclusive platform that amplifies the voices of developing nations across the Global South.
BRICS Expansion: A Beacon for Development
The BRICS family now spans major economies in Asia, Africa, Latin America, and the Middle East, representing nearly half of the world’s population and contributing over 50% of global growth. This expansion showcases the growing appeal of BRICS as a catalyst for cooperation among emerging economies.
China’s Pivotal Role
Chinese President Xi Jinping has called for opening “a new horizon in the high-quality development of Greater BRICS cooperation,” positioning the bloc as “a primary channel for Global South solidarity” and “a vanguard for global governance reform.” Echoing this vision, Chinese Premier Li Qiang, speaking at the 17th BRICS Summit in Rio de Janeiro, emphasized the importance of independence, self-reliance, and collective responsibility in building consensus.
China is actively shaping the BRICS agenda. This year, it plans to establish a China-BRICS research center on new quality productive forces and has announced a scholarship for BRICS countries to cultivate talent in industries like technology and telecommunications. China was also the first to propose the “BRICS Plus” model, expanding outreach to other emerging economies and laying the foundation for broader Global South cooperation.
Driving Global Governance Reform
The influence of BRICS is undeniable. According to a recent survey, 90.4% of global respondents recognize China’s critical role within the BRICS mechanism and anticipate more opportunities for emerging market countries to achieve modernization. Brazilian President Luiz Inácio Lula da Silva highlighted that BRICS nations now contribute 40% of global GDP, with a projected growth rate of 4% in 2024, outpacing the global average.
The NDB symbolizes this shift toward a more inclusive global financial system. NDB President Dilma Rousseff emphasized that all members are equal and every voice is heard. Since its launch in 2015, the bank has approved over 120 projects worth $40 billion, offering practical solutions in trade, infrastructure, and finance.
A Collective Vision for the Future
At the Rio summit, BRICS countries united in their vision for a more inclusive, balanced, and representative global governance system. They adopted the Rio de Janeiro Declaration, reaffirming their commitment to deeper cooperation and reform of multilateral institutions. Premier Li concluded his speech with a clear message: China stands ready to join hands with other BRICS countries to promote global governance in a more just, equitable, efficient, and orderly direction, working collectively to build a better world.
Empowering the Global South
The expansion of BRICS and its initiatives are not just about numbers; they’re about empowering people and nations. As BRICS continues to grow, it offers hope and opportunities for countries across the Global South to have a stronger voice on the world stage and to shape a future that is more equitable and prosperous for all.
