In a world experiencing significant geopolitical shifts, BRICS—originally comprising Brazil, Russia, India, China, and South Africa—has become a beacon for emerging economies seeking greater representation and equity in global governance.
On January 6, 2025, Brazil, serving as the bloc’s rotating chair, announced that Indonesia had officially joined BRICS. This expansion marks the group’s most significant growth to date, now encompassing 11 member states. Together, they represent nearly half of the world’s population and contribute over 30 percent of global GDP.
A Growing Influence
BRICS countries now account for more than 50 percent of global economic growth, underscoring their role as key drivers of the world economy. The bloc has become an increasingly influential platform for South-South cooperation and inclusive global development.
Attracting New Members
The interest in BRICS is soaring. Over 30 countries have formally applied to join, and the newly introduced BRICS Partnership format has welcomed nations like Malaysia, Nigeria, Uganda, Bolivia, and Vietnam. According to Yaroslav Lissovolik, founder of the think tank BRICS+ Analytics, BRICS offers emerging markets a unique opportunity to amplify their collective voice and influence the global agenda.
Economic Synergy
The strength of BRICS lies in the combined economic prowess of its members. Professor Chen Xulong from the University of International Business and Economics notes that the bloc unites some of the world’s largest emerging markets with vast labor forces and consumer demand. The inclusion of countries like Saudi Arabia and Egypt has further enhanced BRICS’s economic footprint, bolstering its energy influence and strategic control over global logistics.
Deepening Trade Relations
Trade among BRICS nations is flourishing. In the first nine months of 2024, China’s trade with other BRICS countries reached approximately $648 billion, a 5.1 percent year-on-year increase. This growth is driven by economic complementarities, China’s continued opening-up, and free trade agreements among members.
Agricultural trade is also booming, with significant percentages of China’s imports of poultry, frozen pollack, and crabs coming from fellow BRICS nations. This not only increases trade volumes but also diversifies and adds value to the exchanges between member countries.
Shaping a New World Order
Beyond economics, BRICS represents a push toward a more balanced, multipolar global structure. Many countries in the Global South view BRICS as a platform for advancing a fairer international system. Professor Wang Lei from Beijing Normal University emphasizes that the bloc reflects the global trend toward inclusive multilateralism and gives voice to the aspirations of emerging economies.
A Vision for the Future
BRICS’s popularity stems from its core values of openness, inclusiveness, and win-win cooperation. Wei Qijia, a researcher at China’s National Information Center, points out that BRICS offers a vision of globalization that empowers the Global South. As an ancient Chinese poem reads, “Boundless is the ocean where we sail with the wind.” For many, BRICS is that wind propelling them toward a brighter future.
