The expansion of BRICS presents new prospects for the organization, but their realization depends on the member states' ability to address internal challenges and enhance cooperation. Elaborate.
Main Body
Latest summit by BRICS at Johannesburg expanded its membership from BRICS to new other like Saudi Arabia, UAE, Indonesia etc. About BRICS- grouping by Brazil, Russia, India, China & South Africa formed in 2009, later 2014 added NDB & CRA for financial mechanism. (Fortaleza declaration) => Has potential to change global order as having emerging economies with high growth (Goldman Sach) (1) South-South cooperation is core to the organization.
Expansion and effect:- (1) Inclusion of further countries making mind to multi-lateral and increase voice of global south. (2) Role of Saudi & UAE in funding of NDB. As a humble bargaining good coming thereof boost in further infrastructure. (3) Increasing interconnectedness between countries of state ASIA. Posses:- (1) Russia-Ukraine war coming disruption is potential leader. (2) Russia-China alliance:- other one sided lined. (3) Saudi Arabia-Iran conflict. Weakness (for office use only): (1) Institutionalization of BRICS with secretariat. (2) As voters in NDB until consensus and remain earlier one vote one value principle. (3) Forum on main agenda Reformed multilateral (G20 on south Cooperation CWTO, DN) This applying mini-maxing of chairmanship i-e minimizing divergence & maximizing convergence to maintain BRICS true alternative to developed countries approach.
SUNITA
Bilateral, Regional and Global Groupings affecting India
BRICS
BRICS expansion and challenges
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analytical
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