An expansion of the BRICS bloc comprising Brazil, Russia, India, China and South Africa under consideration at a summit this week has attracted a motley crew of potential candidates — from Iran to Argentina — with one thing in common: a desire to level a global playing field many consider rigged against them.
The list of grievances is long. Abusive trade practices. Punishing sanctions regimes. Perceived neglect of the development needs of poorer nations. The wealthy West’s domination of international bodies, such as the UN, the IMF or the World Bank.
Amid widespread dissatisfaction with the prevailing world order, the pledge of BRICS nations to make the grouping a leading champion of the “Global South” has, despite a dearth of concrete results, found resonance.
Photo: AFP
More than 40 countries have expressed interest in joining BRICS, said officials from South Africa, which is hosting the summit from today until Thursday.
Nearly two dozen have formally asked to be admitted, they said.
“The objective necessity for a grouping like BRICS has never been larger,” said former South African minister of trade Rob Davies, who helped usher his country into the bloc in 2010. “The multilateral bodies are not places where we can go and have an equitable, inclusive outcome.”
However, observers point to an underwhelming track record which they say does not bode well for BRICS’ prospects of delivering on the lofty hopes of prospective members.
Although home to about 40 percent of the world’s population and a quarter of global GDP, the bloc’s ambitions of becoming a global political and economic player have long been thwarted by internal divisions and a lack of coherent vision.
Its once booming economies, notably heavyweight China, are slowing. Founding member, Russia, is facing isolation over the Ukraine war. Russian President Vladimir Putin, wanted under an international arrest warrant for alleged war crimes, will not travel to Johannesburg and only join virtually.
“They may have overinflated expectations of what BRICS membership will actually deliver in practice,” said Steven Gruzd from the South African Institute of International Affairs.
While BRICS has not divulged a full list of expansion candidates, a number of governments have publicly stated their interest.
Iran and Venezuela, punished and ostracized by sanctions, are seeking to reduce their isolation and hope the bloc can offer relief to their crippled economies.
“Other integration frameworks existing on a global level are blinded by the hegemonic vision pushed by the US government,” former Venezuelan central bank governor Ramon Lobo said.
Gulf states Saudi Arabia and the United Arab Emirates see BRICS as a vehicle for a more prominent role within global bodies, analysts said.
African candidates Ethiopia and Nigeria are drawn by the bloc’s commitment to reforms at the UN that would give the continent a more powerful voice. Others want changes at the WTO, IMF and World Bank.
“Argentina has insistently called for a reconfiguration of the international financial architecture,” an Argentine government official involved in the negotiations to join BRICS said.
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