History of BRICS

BRICS is an informal group of states comprising the Federative Republic of Brazil, the Russian
Federation, the Republic of India, the People’s Republic of China and the Republic of South
Africa. It was the Russian side that initiated the creation of BRICS.

On 20 September 2006, the first BRICS Ministerial

Meeting was held at the proposal of Russian President
Vladimir Putin on the margins of a UN General
Assembly Session in New York. Foreign ministers of
Russia, Brazil and China and the Indian Defence
Minister took part in the meeting. They expressed
their interest in expanding multilateral cooperation. On 16 May 2008, Yekaterinburg hosted
Meeting of BRICS Foreign Ministers on the initiative of Russia. After the meeting, a Joint
Communique was issued, reflecting common stances on topical global development issues.
Another important step was taken on 9 July 2008, when Russian President Dmitry Medvedev
met with Brazilian President Luiz Inacio Lula da Silva, Indian Prime Minister Manmohan Singh
and Chinese President Hu Jintao on the margins of the G8 Summit in Toyako, Japan, on the
Russian initiative.

On the Russian initiative on 16 June 2009,

Yekaterinburg hosted the first BRIC Summit. BRIC
Leaders issued a joint statement after the Summit.
The document set forth the goals of BRIC “to
promote dialogue and cooperation among our
countries in an incremental, proactive, pragmatic, open and transparent way. The dialogue and
cooperation of the BRIC countries is conducive not only to serving common interests of
emerging market economies and developing countries, but also to building a harmonious world
of lasting peace and common prosperity.” The document outlined a common perception of ways
to cope with the global financial and economic crisis. The growing economic might of BRICS
countries, their significance as one of the main driving forces of global economic development,
their substantial population and abundant natural resources form the foundation of their influence
on the international scene. In 2013, BRICS accounted for about 27 percent of the global GDP (in
terms of the purchasing power parity of their national currencies). The total BRICS population is
2.88 billion (42 percent of the entire global population), and the five countries cover 26 percent
of the planet’s land.

BRICS countries are influential members of leading international organisations and agencies,
including the UN, the G20, the Non-Aligned Movement and the Group of 77. They are also
members of various regional associations.
The Russian Federation is a member of the
Commonwealth of Independent States, the
Collective Security Treaty Organisation and
the Eurasian Economic Union. Russia and
China are members of the Shanghai
Cooperation Organisation and the Asia
Pacific Economic Cooperation. Brazil is a
member of the Union of South American
Nations, MERCOSUR and the Community of Latin American and Caribbean States. The
Republic of South Africa is a member of the African Union and the Southern African
Development Community. India is a member of the South Asian Association for Regional
Cooperation.

Relations between BRICS partners are built on the UN Charter, generally recognised principles
and norms of international law and the following principles, which were agreed by member
countries at their 2011 Summit: openness, pragmatism, solidarity, non-bloc nature and neutrality
with regard to third parties. BRICS work is based on action plans approved during annual
summits since 2010.

The system of cooperation formats between BRICS countries includes annual scheduled summits
(2010 – Brazil; 2011 – China; 2012 – India; 2013 – South Africa; 2014 – Brazil; 2015 - Russia;
2016 - India), leaders’ meetings on the sidelines of G20 summits, meetings between high
representatives responsible for national security, foreign ministers (on the sidelines of the UN
General Assembly), ministers of finance and governors of central banks (on the sidelines of
autumn and spring meetings of the International Monetary Fund and World Bank boards of
governors and also on the sidelines of meetings of G20 ministers of finance), ministers of
agriculture and agrarian development, BRICS sherpas and sous-sherpas, heads of statistical and
anti-monopoly departments, senior officials for science and technological and innovation
cooperation, meetings of working cooperation groups for agriculture and agrarian development,
healthcare, information security, science and innovation, meetings of chairpersons of supreme
(high) courts, heads of central election commissions, and representatives of municipal
administrations and partner regions. Cooperation between national BRICS permanent missions at
the UN Headquarters in New York, at international organizations in Geneva and Vienna and at
UNESCO in Paris plays an important role in the mechanism of multilateral cooperation. Apart
from joint events involving executive agencies and the judiciary branch, business organizations
and research centers cooperate within the BRICS format.

In 2009-2016 BRICS countries focused on the following joint priorities. They worked out a
common stance on certain regional problems, including the Libyan, Syrian and Afghan problems
and the Iranian nuclear programme. They also reached common agreement on financial and
economic issues, including World Bank and IMF reforms, measures to ensure that sufficient
resources can be mobilized to the IMF to strengthen its anti-crisis potential, the creation of
BRICS Interbank Cooperation Mechanism which provides for Extending Credit Facility in Local
Currency and the establishment of the BRICS Exchanges Alliance.

BRICS is successfully expanding its external relations that were established at the Durban
meeting between the five BRICS leaders, the leaders of the African Union and the leaders of
eight leading African integration associations. On 16 July 2014, Brasilia hosted the second
meeting in this format involving South American heads of state and government. This practice
makes it possible to find important points of contact between BRICS and new leading centers of
power that are emerging worldwide. The 6th BRICS Summit (Fortaleza and Brasilia, 15-16 July
2014) produced a highly important result. The sides signed the Agreement on the New
Development Bank and the Treaty for the Establishment of a BRICS Contingent Reserve
Arrangement. These institutions will possess a total of $200 billion.

BRICS leaders reached an agreement to open a number of new spheres of cooperation, initiated
by the Russian Presidency – in the field of youth, migration, industry, energy, peacekeeping,
environment, fight against infectious diseases etc. The Russian side also presented a Roadmap
for trade-economic and investment cooperation between the BRICS countries up to 2020 year,
which currently includes more than 60 proposals of cooperation from Russian companies. At the
summit in Goa were discussed the issues of energy, trade, banking cooperation, agriculture,
space utilization and other common spaces, health, education, development of humanitarian
contacts and tourism, the fight against poverty and social inequality. In addition to the
Declaration was signed a number of sectoral agreements. The BRICS presidency in 2017 were
transferred to China, in 2018 - to South Africa, in 2019 - to Brazil and in 2020 - to Russia.

 About BRICS and its importance:

1. BRICS is an acronym for the grouping of the world’s leading emerging economies,
namely Brazil, Russia, India, China and South Africa.
2. The acronym “BRICS” was initially formulated in 2001 by economist Jim O’Neill, of
Goldman Sachs, in a report on growth prospects for the economies of Brazil, Russia,
India and China – which together represented a significant share of the world’s
production and population.
3. The importance of BRICS is self-evident: it represents 42% of the world’s
population, 30% of the land area, 24% of global GDP and 16% of international trade.
4. The BRICS seeks to deepen, broaden and intensify cooperation within the grouping
and among the individual countries for more sustainable, equitable and mutually
beneficial development.
5. BRICS takes into consideration each member’s growth, development and poverty
objectives to ensure relations are built on the respective country’s economic
strengths and to avoid competition where possible.
6. External Affairs Minister noting that BRICS was 15 years old, recently portrayed it
as a young adult, equipped with “thoughts shaped and a worldview concretised, and
with a growing sense of responsibilities.”
The Structural Power of the BRICS
Abstract
The emergence of the BRICS (Brazil, Russia, India, China and South Africa) as an alternative
force to the West has ignited a debate within the discipline of international political economy on
the nature of the groups rise. Global governance scholars either debate the role of the BRICS in
transforming the world order (playing the game) or focus on the domestic sources of the BRICS
nations' preference formation (the position of states within the game). This article goes beyond
the game-versus-player debate, by focusing on the structural power of the BRICS to 'change the
rules of the game'. The article investigates how the BRICS-created New Development Bank as
an alternative circuit for actors to exchange goods in the area of development finance has been
integrated into global governance. The article argues that the New Development Bank does not
grant the BRICS the structural power needed to change the rules and norms that underpin the
game.

New approach to structural power

Structural power is the power located among its compulsory, institutional and relational
dimensions. Inherent in ‘a social structure beyond any conscious exercise’ (Barnett and Duvall,
2005, structural power is in stark contrast to relational power, which underscores efforts to
maximize values within a given set of institutional structures and excels as a meta-power that
refers to efforts to change the institutions (or change the game). Susan Strange defines structural
power as the power to shape and determine the structures of the global political economy within
which other states, their political and legal institutions, their economic enterprises, and their
scientists interact. This, structural power means rather more than the power to set the agenda of
discussion.

This can be understood to be the power to define the rules of the game. Strange identifies four
key structures of power in the world economy: security, production, finance and knowledge. Of
these, the financial structure is the core of global economic governance. Her basic tenet was that
the financial structure of the world economy was based on two pillars. The first one comprised
the (sub)structures of the political economy through which credit is created and in which power
is shared by governments and banks. The second pillar was made up of national monetary
systems creating the global superstructure.

However, Strange’s approach does have several critics who highlight that the approach has a
non-intentional character, is narrow, has poor operationalization and has an insufficient
theoretical explanation of the causation mechanisms of structural power. Having noted this, the
approach to structural power in this article differs from that of Strange. The first difference is the
understanding of the financial structure visible in the shift from the ‘power of influence’ to the
‘power of social interaction’, where the pure structural approach to power (based on the
unidirectional empowering of certain forces by an omnipotent structure) becomes balanced by
agent-based structural power that is, the capacity of an actor to change the underlying structures
of the socioeconomic and political conditions in line with its interests and ideas. Here, power is
constituted primarily by ideas and cultural contexts. Interests can be understood as societal
material considerations – for example, tariffs and subsidies, and access to international decision-
making. Ideas can be understood as value-based collective expectations and beliefs about
national, regional and international identities, or about how to organize the international system.

This distinction between interests and ideas, and their inclusion into analyses, enriches our
understanding of structural power. The rise of the BRICS in the area of development finance
shows that new actors do not necessarily see the compatibility of interests and/or ideas dominant
in other countries. Strange’s structural approach to power focuses on the determination of social
capacities. This approach, when supplemented by a constructivist approach to international
normative and ideational structures, can be valuable when discussing the new role of the BRICS
in global governance. This reformed concept of agency–structure relations can be considered a
step towards a good institutional indicator of the performance of the BRICS in global economic
governance. Yet fully analysing the emergence of the BRICS in global governance requires a
new structural power approach. The proposed framework of analysis, outlined in applies
Strange’s financial structure model to the context of development finance, and thus departs from
purely macroeconomic factors and the narrow lens of credit and currency issues. As noted
before, the framework also requires a shift in our understanding of the financial structure from
Strange’s ‘power of influence’ to ‘power of social interaction’. The latter is based on a nexus
between goods and needs articulated by various actors, with a special role conferred upon states
that are deemed to be legitimate. Their power is rooted in determining not only prevailing
meanings, ideas, interests and institutions within a community, but also in deciding which goods
can be traded off to meet the needs of both the developed and emerging economies. This
approach also requires an understanding of the concept of ‘exit-voice pressure’. Exit-voice is
where the cost of exiting a group is fragmented multilateralism, both for organizational leaders
and for members, and where the cost of insufficient voice is a decreased capacity to influence the
principles and procedures of development finance.

Exit-voice pressure occurs when a member creates a demand for extra decision-power (voice)
and meets the cost of this by increasing the resources the member puts into a system and is
allowed to do so by the dominant actors in the system. In the case of the BRICS, their pursuit of
representation and voice (depicted in the framework as ideational and positional goods) in global
governance institutions raises the
pressure stemming from their
dissatisfaction and leads to a search
for alternative ways of boosting their
power by creating parallel
institutions to the established,
western-led ones. The NDB, seen
this way, can be perceived as a
materialization of the ‘exit’ option,
which comes at the cost of
fragmented multilateralism.

The framework has three underlining assumptions. The first assumption is that there is a
difference between resources and goods. Resources (broadly understood as anything an actor can
theoretically access given their capacity to do so) turn into goods only when another actor
articulates a corresponding need, and the exchange for another good becomes possible. For the
purpose of this article, the term ‘resources’ refers to financial means.

Energy structure evaluation and optimization in BRICS:

Improving the energy efficiency of emerging economies is the core of achieving efficient global
development. This paper innovatively applies the slack based DEA to analyze the energy
structure and energy-saving potential of BRICS countries in the past three decades. The results
of empirical analysis show that, first, Brazil and Russia ranked first and last with the average
efficiency of 0.5941 and 0.0921 respectively in the 30-year observation period. Second, the slack
variable of each country is very large. For
example, in 2018, India needs to reduce
436.17 Mtoe coal consumption, 105.65
Mtoe oil consumption, 25.39 Mtoe
natural gas consumption, and 2038.05
million tons of carbon emissions to reach
an effective state. Third, the reasons for
inefficiency vary from country to
country. Brazil, Russia, and India have
low levels of energy management and
lack of advanced key technologies. China
and South Africa are faced with the
problems of scale diseconomy and unreasonable resource allocation structure. The research
results are helpful to understand the changing trend of energy efficiency and the reasons for low
efficiency in BRICS, and can provide a reference for the formulation of scientific development
strategy, which has important practical significance.

Climate change is one of the focal points of the international community. Global warming is one
of the most serious threats to human beings in the 21st century. Controlling carbon emissions and
mitigating climate change are hot issues of concern to all countries. The burning of fossil fuels
such as coal, oil, and natural gas in modern industrial society is the main source of carbon
dioxide. Whether a country’s energy consumption structure is dominated by high-carbon energy
to a large extent determines whether the country is under great pressure to reduce emissions.
Studying the structure of energy consumption and its changes can help tap the potential of
energy conservation and is also an important basis for safeguarding national energy security.
Context: The 13th BRICS summit is set to be held on September 9 in digital format under India’s
chairmanship. This plurilateral grouping comprising Brazil, Russia, India, China and South
Africa is chaired by turn. India held the chair in 2012 and 2016 too.

BRICS is emerging as a new and promising political-diplomatic entity with diverse objectives,
far beyond the original objective of reforming global financial institutions.

The preparatory meeting of Foreign Ministers in June and dialogue at the BRICS Academic
Forum in early August offered an important opportunity to present an objective assessment of the
grouping’s record amid differing views of believers and sceptics.

The NDB as a source of structural power for the BRICS:

A state can use its structural power to create new goods within a current social interaction by
increasing its voice pressure (representation and decision-making power) within international
organizations. If this is not possible, then a state can create channels of social interaction. This is
what the BRICS have done in the case of the NDB. Therefore, a single case study that focuses on
the NDB offers a testing ground for the structural power of the BRICS.

Humphrey (2014, 2016) found that power diffusion was conditional upon two main factors:
scope of shareholders and the symbiotic relationship between borrower and lender. If the same
criterion is applied to the NDB, it can be seen that the composition of the bank has a multilateral
(or combined) perspective, like the BRICS themselves, and at the same time a criterion of
commonality – that of an emerging market economy. In this case, there is no principal
shareholder and the NDB’s power is not exercised in a single common region (Cooper, 2017).

The NDB presents itself as a unique case. In terms of a symbiotic relationship, multilateral
financial development institutions have established two forms of mutually exclusive relations:
borrower–non-borrower and borrower–borrower (NDB, 2017a). The former is a relationship of
dependence that results in benefits for the non-borrower. The latter scenario presents more equal
treatment, although the impact is reflected in the higher cost of accessing material goods. The
NDB presents a non-mutually exclusive situation, and it is open to both types of scenarios. The
bank’s borrowing strategy is both borrower–non-borrower and borrower–borrower (NDB,
2017a, 2019, 2020b). This has led to the development of financial products whereby both
members and non-members of the bank can access material goods at market value. Therefore,
the NDB differs from the classical institutional paradigm observed by Humphrey (2015). These
two conditions have become important variables that have an impact on the level of power
diffusion. In the case of the NDB, there is an explanation gap that needs a proper theoretical
framework that answers how power diffusion is exercised by this specific type of institution.

The NDB’s lending strategy

From the supply side, MDBs are providers of financial resources. From that perspective, it
matters how shareholders satisfy economic and
political conditions. The shareholder structure
of MDBs has a significant implication in
determining the banks’ actions. From the
demand side, Humphrey’s framework notes
that borrower countries with recurrent
borrowing that have shown fiscal
improvements can change the conditions
required for exchange. This results in an
increase in the voice pressure of a borrower within the MDBs’
Green decision-making
Economy processes.
Index that evaluates the quality of green
economies in the BRICS countries
The NDB, which creates a new voice pressure outside the current system of MDBs that make up
global economic governance (area of social interaction), links both sides – supply and demand.
Therefore, the NDB should offer a new element of structural power that should be considered.
 Achievements: Establishment of the New Development Bank (NDB) and Contingency Reserve
Arrangement:

1. During the sixth BRICS Summit in Fortaleza, Brazil (2014), the leaders signed the Agreement
for establishing the New Development Bank (NDB).
2. NDB has successfully worked as one of the most promising multilateral development
institutions. Since its inception in 2015, it has approved 42 investment projects worth over $11
billion.
3. Fortaleza Declaration stressed that the NDB will strengthen cooperation among BRICS and will
supplement the efforts of multilateral and regional financial institutions for global development
thus contributing to sustainable and balanced growth.
4. BRICS nations signed BRICS Contingent Reserve Arrangement (CRA) in 2014 as part of
Fortaleza Declaration at Sixth BRICS summit.
5. Contingency Reserve Arrangement, aimed at ensuring liquidity for member-states when they are
confronted by short term balance of payment crises.
6. The capital of $100 billion committed under CRA, can act as the guarantor of BRICS financial
stability in case of crisis.

 During its fifth summit at

came into existence as New Development Bank in 2015. It has a head quarter at Shanghai with
initial capital of $50 billion and subsequently increased to $100 billion. The bank is today
considered as rival of World Bank and the bank’s primary focus is to lend for various
development projects in member and other developing countries.

Functions of BRICS
The BRICS group, consisting of Brazil, Russia, India, China, and South Africa, collaborates on
various economic and political initiatives. These activities span economic, political, social, and
cultural spheres. Here are some of their key functions and goals:

1. Economic Cooperation: BRICS nations work together to enhance economic cooperation,

trade, economic development and investment among member countries. They aim to promote
growth and stability in their respective
economies. BRICS countries collectively
represent a substantial portion of the world's
population and GDP. Their economic
influence has grown significantly over the
years, and they have used this influence to
advocate for reforms in international
financial institutions like the IMF and World
Bank to better reflect the changing global
economic landscape.

2. Political Dialogue: BRICS countries engage in regular political dialogue to discuss global and
regional issues. They often coordinate their positions on international matters, such as climate
change, global governance, and security. BRICS nations engage in diplomatic and political
cooperation on various global issues. They often issue joint statements on matters such as
counterterrorism, climate change, and reform of the United Nations Security Council. This
allows them to present a unified front on important international matters.

3. Financial Institutions: The BRICS group established the New Development Bank (NDB) to
provide financial support for infrastructure and sustainable development projects in member
countries and other emerging economies.

4. Development Initiatives: BRICS nations collaborate on development projects and initiatives,

including those related to education, healthcare, and poverty alleviation, to improve the quality
of life for their citizens.
5. Reforming Global Governance: The BRICS countries advocate for reforming international
institutions like the United Nations, IMF, and World Bank to make them more inclusive and
representative of the global South.

6. Cultural Exchanges: They promote cultural exchanges and people-to-people ties to enhance
mutual understanding and cooperation in areas such as education, tourism, and arts.

7. Counterterrorism and Security: BRICS nations cooperate on counterterrorism efforts and

discuss security challenges in the region and globally. Coordination on counterterrorism efforts
and discussions on regional and global security issues

8. Development Initiatives: BRICS countries support development initiatives, both

domestically and in other emerging economies. They have established institutions like the New
Development Bank (NDB) to finance infrastructure projects and promote sustainable
development. Initiatives to improve infrastructure connectivity within BRICS countries,
including transportation and digital infrastructure.

9. Geopolitical Balance: BRICS nations, with their collective economic and political clout, aim
to balance the influence of Western powers on the global stage. Each BRICS country has its own
regional influence. China, for instance, is a major player in Asia, while Brazil holds sway in
South America. This regional influence can impact the geopolitics of their respective areas.

10. Challenges and Differences: Despite their common interests, BRICS nations also have
significant differences, including political systems, strategic priorities, and economic structures.
Managing these differences can be a challenge within the group. Working collectively to achieve
the United Nations' SDGs, focusing on poverty reduction, environmental sustainability, and
social development.

11. Humanitarian Assistance: Cooperation in providing humanitarian assistance in times of

crises and natural disasters. Collaborative efforts on healthcare, including addressing health
emergencies like the COVID-19 pandemic and promoting pharmaceutical cooperation.

12. BRICS Business Council: A forum for business leaders from BRICS nations to engage in
discussions and promote economic ties, investment, and trade among member countries.
14. Academic and Think Tank Cooperation: Encouraging collaboration among academic and
research institutions in BRICS countries to address common challenges and generate policy
recommendations.

15. Counterbalance to Western Dominance: BRICS countries have sought to counterbalance

the dominance of Western powers in global affairs. They promote a more multipolar world order,
advocating for a greater voice for emerging economies in international decision-making.

16. Summit wide Meetings: The annual BRICS Summit is a significant event where the leaders
of member countries gather to discuss various issues, set priorities, and make decisions on
cooperative initiatives.

These functions reflect the group's commitment to fostering cooperation among emerging
economies and addressing common challenges on the global stage. These activities and
initiatives reflect the diverse interests and priorities of the BRICS countries as they seek to
strengthen their cooperation and address common challenges in the international arena.

The core functions and activities of each BRICS member country

Brazil

Core Functions: Brazil contributes to BRICS with its robust economy, rich natural resources,
and a focus on sustainable development. It plays a role in promoting economic growth and social
development in the group.

Activities: Brazil participates actively in discussions on economic cooperation, sustainable

development, and climate change. It also engages in cultural exchanges and supports the BRICS
New Development Bank

Russia

Core Functions: Russia brings its geopolitical influence, energy resources, and technological expertise to
BRICS. It often focuses on political and security matters.

Activities: Russia is involved in discussions related to international security, political cooperation, and
regional stability. It also collaborates in areas of technology and research.
India

Core Functions: India is known for its diverse and rapidly growing economy. It emphasizes
inclusive growth, digitalization, and healthcare within BRICS.

Activities: India engages in economic discussions, promotes digital innovation and healthcare
cooperation, and advocates for the voice of developing countries in international forums.

China

Core Functions: China is a major economic powerhouse within BRICS, known for its
manufacturing capabilities and infrastructure development. It often leads discussions on
economic matters.

Activities: China plays a key role in economic cooperation, infrastructure development, and the
activities of the BRICS New Development Bank. It also supports sustainable development
initiatives.

South Africa

Core Functions: South Africa is the newest member of BRICS and represents the African
continent. It contributes to discussions on regional development, trade, and cooperation with
other African nations.

Activities: South Africa participates in discussions related to economic growth, development

projects in Africa, and cultural exchanges within BRICS.

Overall, the BRICS group plays a role in shaping the evolving global geopolitical landscape,
advocating for a more balanced distribution of power and influence among nations. Their
influence continues to evolve and is subject to various geopolitical developments. BRICS plays a
multifaceted role, encompassing economic cooperation, political influence, development
initiatives, and more, with the goal of strengthening the position of emerging economies in the
global arena.
 Criticism of BRICS
Criticism of BRICS (Brazil, Russia, India, China, South Africa) revolves around several aspects,
including concerns about disparities in economic development, geopolitical rivalries, the
effectiveness of collective action, and differing policy approaches. Here's an introduction to these
criticisms:

The dominance of one country in BRICS

 Economic Size and Growth: China boasts the

largest economy within BRICS and is often
considered the world's second-largest economy,
after the United States. Its rapid economic growth
and development have significantly contributed to
the overall economic strength of BRICS.
 Trade and Investment: China is a major trading
partner for each of the other BRICS nations. Its exports to BRICS countries and investments
in their economies are substantial, solidifying its influence in the group.
 Industrial capacity: China's robust industrial and manufacturing capacity gives it a
dominant position in trade, infrastructure development, and production capabilities. This
industrial strength contributes to its influence within BRICS.
 Infrastructure Projects: China has actively invested in infrastructure projects across BRICS
nations through initiatives like the Belt and Road Initiative (BRI). These investments further
enhance its influence in the region.
 Political Diplomacy: China's proactive approach to international relations and diplomacy
has allowed it to take a leadership role within BRICS, often setting the agenda for
discussions and negotiations.
 Financial Institutions: China hosts the New Development Bank (NDB), a key financial
institution established by BRICS nations to fund infrastructure and sustainable development
projects. This gives China significant influence in shaping the bank's policies and projects.
 Geopolitical Considerations: China's geopolitical influence, both regionally and globally,
contributes to its prominent role within BRICS, giving it a strong voice in discussions related
to international relations and cooperation.

Lack of mutual interest in BRICS:

 Size and Growth: China boasts the largest economy within BRICS and is often considered
the world's second-largest economy, after the United States. Its rapid economic growth and
development have significantly contributed to the overall economic strength of BRICS.
 Trade and Investment: China is a major trading partner for each of the other BRICS
nations. Its exports to BRICS countries and investments in their economies are substantial,
solidifying its influence in the group.
 Capacity: China's robust industrial and manufacturing capacity gives it a dominant position
in trade, infrastructure development, and production capabilities. This industrial strength
contributes to its influence within BRICS.
 Infrastructure Projects: China has actively invested in infrastructure projects across BRICS
nations through initiatives like the Belt and Road Initiative (BRI). These investments further
enhance its influence in the region.
 Diplomacy: China's proactive approach to international relations and diplomacy has allowed
it to take a leadership role within BRICS, often setting the agenda for discussions and
negotiations.
 Financial Institutions: China hosts the New Development Bank (NDB), a key financial
institution established by BRICS nations to fund infrastructure and sustainable development
projects. This gives China significant influence in shaping the bank's policies and projects.
 Geopolitical Considerations: China's geopolitical influence, both regionally and globally,
contributes to its prominent role within BRICS, giving it a strong voice in discussions related
to international relations and cooperation.
Competition among themselves in BRICS
 Economic Competition: BRICS countries, especially China and India, often compete for
market share and influence in various sectors. This includes industries like manufacturing,
technology, agriculture, and services, where each country seeks to advance its economic
interests and expand its exports.
 Trade Rivalry: The member countries, despite being part of a cooperative bloc, compete for
trade agreements and partnerships with other nations and regions. For example, they might
compete for favorable trade deals with the European Union, the United States, or other
emerging markets.
 Infrastructure Projects and Investments: Countries within BRICS compete to attract
investments and funding for infrastructure projects. China's Belt and Road Initiative (BRI) is
an example where it competes with other BRICS nations for infrastructure influence and
investments in various regions.
 Resource Access and Control: Competition for access to and control over natural resources,
especially in resource-rich regions in Africa and Latin America, is prevalent. BRICS
countries, particularly China and India, seek to secure strategic resources for their growing
economies.
 Geopolitical Influence: BRICS countries compete for geopolitical influence, both regionally
and globally. This competition often plays out in international organizations, where they
strive to promote their geopolitical agendas and increase their representation and influence on
the world stage.
 Technological Advancements and Innovation: There's competition in the realm of
technological advancements and innovation. Countries like China and India compete in the
tech sector, aiming to achieve dominance in emerging technologies like artificial intelligence,
5G, and biotechnology.
 Financial Sector Development: BRICS countries compete to establish financial institutions
and platforms to serve their economic and geopolitical interests. The establishment of the
New Development Bank (NDB) by BRICS members is an example of this competition.
Differences in Brics
 Economic Structure and Development Levels:
 China: Industrial powerhouse with a focus on manufacturing and export oriented growth.
 India: Service-driven economy with a burgeoning tech sector and a large population
base.
 Brazil: Resource-rich country with a diverse economy, including agriculture, mining, and
manufacturing.
 Russia: Resource-dependent economy with a significant emphasis on energy and natural
resources.
 South Africa: Resource-rich nation with a mix of mining, agriculture, manufacturing,
and services.

 Geopolitical Interests:
 China: Pursues a policy of global influence, particularly in Asia and Africa, through
initiatives like the Belt and Road Initiative (BRI).
 Russia: Focuses on maintaining influence in its traditional spheres, such as Eastern
Europe and Central Asia.
 India: Aims to assert influence in South Asia and the Indian Ocean region while pursuing
a multi-aligned foreign policy.
 Brazil: Emphasizes regional influence in Latin America and seeks to enhance ties with
African nations.
 South Africa: Aims to enhance its influence in Africa and play a role in global
diplomacy, especially within the African Union.

Cultural and Social Differences

Each country has unique cultural practices, languages, and historical backgrounds, influencing
societal norms and values within their respective societies.
 Demographics and Population: China and India have the largest populations globally,
impacting their domestic policies, labor markets, and social structures. Russia, Brazil, and
 South Africa have smaller populations but possess diverse demographics with different
ethnicities and cultures.
 Natural Resources and Environmental Challenges: Brazil and Russia possess abundant
natural resources, with Brazil having a focus on agriculture and Russia on minerals and
energy. China is a significant consumer of natural resources, driving its global resource
acquisition efforts. India and South Africa face environmental challenges due to rapid and
urbanization.
 Economic Policy and Reforms: Economic policies and reforms vary based on each
country's economic goals, institutional frameworks, and political ideologies. It’s important to
note that despite these criticisms, BRICS has demonstrated resilience and remains a platform
for dialogue, economic collaboration, and attempts to address common concerns. The
effectiveness of BRICS will likely depend on the members’ ability to navigate and address
these criticisms, align their goals, and foster greater cooperation to achieve mutual benefits
and sustainable development.
References
BRICS Summit to be held virtually on Nov 17; strengthening cooperation, global stability on agenda".
"Report for Selected Countries and Subjects". IMF. Retrieved 17 April 2023
Amid BRICS' rise and 'Arab Spring', a new global order forms" Archived 20 October 2011
"S. Africa Joins; BRIC Now BRICS, 13 de abril de 2011".
"Brics a force for world peace, says China". Business Day.
"BRICS welcomes new members in push to reshuffle world order".

Remark:
Priya Ghosh

Apurbo Chakrabortty

Kazi Tanvir Shakib

Kaniz Fatema

Hridoy Ahmed