Introduction
The BRICS is a group of developing countries, the largest by population and area. The abbreviation stands for the first letters of countries’ names: Brazil, Russia, India, China, and South Africa. In 2001, Jim O’Neill, an economist at Goldman Sachs, created the acronym BRIC to refer to Brazil, Russia, India, and China. During that time, these countries were considered the big ones with average income levels, and their economy developed rapidly.
O’Neill found it helpful to study these countries together because of their similar economic characteristics and social development (Aith 2022). J. O’Neill predicted that these states might become the leading economies by 2050. In 2006, four countries formed the BRIC union. The name BRICS emerged after South Africa joined in 2010.
2023 BRICS Summit
The Summit of these states was held in Johannesburg for three days, from August 22, 2023. South Africa was invited to attend the event, along with leaders from more than sixty countries in Africa, Latin America, Asia, and the Caribbean. The President of one of the leaders’ countries did not attend the meeting.
The International Criminal Court issued a warrant for Vladimir Putin’s arrest. South Africa, as a signatory to the court, is officially obliged to comply with this warrant if the Russian president enters the country’s territory. That is why Putin was present only virtually while the Minister of Foreign Affairs of the Russian Federation, Serhii Lavrov, arrived in person.
The main agenda of the meeting was to discuss the probable reception of new members to the group. The leader of South Africa, who hosted the summit, announced that more than forty countries expressed interest in joining. President Cyril Ramaphosa stated that the leaders of the group value the interests of other countries in developing a partnership with BRICS (Isilow 2023). President Ramaphosa also stated that even more countries would join the bloc as soon as the founding states decided on the criteria for receiving new members.
The discussion on BRICS expansion became one of the central issues discussed by the summit participants, and the leaders of the countries acknowledged that they were at a crossroads regarding the future perspective of the group’s enlargement. The “BRICS +” expansion formula was proposed by China in 2017, and at the summit, it was officially adopted as the new name for the association.
The other questions discussed during the summit included combating climate change, expanding trade, investment, and innovation in developing countries, as well as reforming global governance to give states greater influence and authority. No formal meeting agenda was “de-dollarization” as the prior issue for many BRICS countries and the dozens of other states in attendance (Cheatham 2023). There was an offer to establish a new currency to resist the dollar. Moreover, in pursuit of this purpose, the members of BRICS, as well as attendees, continue to use the local currency.
Conclusion
In conclusion, the expansion of BRICS does imply some changes. Sarang Shidore emphasized (2023) that the world is no longer the kind where the US sets all the rules or controls all the international organizations. Ultimately, the summit was a diplomatic meeting that yielded gains and concessions. For example, President Putin was not arrested, but thanks to modern technologies, Russia was represented at the event. China introduced its membership expansion plan, while India tried to balance its friendship with America. Brazil pushed for a common currency, and it was taken seriously. South Africa hosted the international summit, which passed without any public failures.
Works Cited
Aith, Fernando. Comparative Health Rights Protection Models in BRICS (Brazil, Russia, India, China and South Africa). Health Law and Policy from East to West: Analytical Perspectives and Comparative Case Studies, edited by Fierlbeck, Katherine, and JoaquĂn CayĂłn de las Cuevas. Thomson Reuters Civitas. 2022.
Cheatham, Andrew, and Adam Gallagher. “Why the BRICS Summit Could Be a Big Deal.”, United States Institute of Peace, 2023.
Isilow, Hassan. “More than 20 countries have applied to join BRICS: South African president.” AA, 2023.
Shidore, Sarang. “BRICS just announced an expansion. This is a big deal.”, Responsible Statecraft, 2023.