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The paradox of BRICS, its new pathway

In this article, we have discussed the various challenges and objectives of different groupings, including BRICS.

What is the context?

The changing global order and new developments across the globe posed serious challenges for all countries. Several groupings have lost their credibility and trustworthiness due to bipolar world and strechy international relations.

What are the challenges before existing groups?

Some groups which have emerged out during the cold war era like Non-Aligned Movement (NAM) and G-77 lator lost their relevance. However, these institutions still function.

Some institutions like South Asian Association for Regional Cooperation (SAARC) discontinue to organize its summit since 2014. Its last summit held in the year 2014, although, ite Secretariate somehow keeps it function. The Association of Southeast Asian Nations (ASEAN), still in internal conflict due to serious policy divergences between China and Myanmar. But, the grouping (ASEAN) still function.

What are the changes on other plateforms?

Similarly, BRICS is on different plateform. It performs well on several stages, weather cooperation and coordination in finances, environment, Covid etc. But, with time its significance is melting. The reasons may be any of these – COVID-19, the Galwan clash, and the Ukraine conflict. If we look at all these, the result is rising global economic stress, deteriorating India-China relations, diminishing Russia, etc.

Is there any dorment group exist?

BRIC was a grouping of four emerging economies namely – Brazil, Russia, India, and China. With the passage of time, two of its members succefully joined hands to form a separate grouping – South Africa to form IBSA (India, Brazil, South Africa) in 2003. China was deeply willing to join it and managed to get support of South Africa. But, the things have changed, and the group could not pick tha pace. After the joining of South Africa in BRIC, the older group failed to sustain. IBSA has been unable to orgaize its summit since 2011. Although, BRICS has successfully held 14 summits, since its emergence.

How BRICS balanced its significance?

The geopolitical and economic aspects play a key role in dominating international relations. On both these frons, BRICS hold a tight grip to resist any flactuations. A shift from bipolarity to multipolarity, projected a new western outlook and help in curbing the dominating influence of the West. On economic aspect, it established a new bank, namely – the New Development Bank, the Contingent Reserve Arrangement, a special mechanism to protect against global liquidity pressures, also a comprehensive program to expand global trade.

Is there unity within BRICS?

Despite the fact that, it continue to function in effective manner, the member states of the BRICS are in internal conflict. Recently, China and India were in front to front on border dispute, which is going, however relaxed. Also, if IBSA, wishes to be a part of UN Security Council as a permanent member, they may face disappointment.

Is there any Silver Lining?

Despite many falls, 19 countries across the different continents, are looking to join BRICS. But, there are some challenges, like – China willing to expand the group as a strategic block. There is a fear of missing out, also on the membership of a club. However, in the next summit, going to organize in South Africa in August, there may be some discussions held on each of these subjects. The group has three options – mega expansion, aimed to surpassing G-20, limited expansion or in between.

What is India’s stand?

India is in favor of expansion, but on mutually agreed way and in gradual manner. However, India is also looking its aspirations in this, including the permanent seat in UN Security Council.