Russia and China drive alliance forward Can the Brics states do anything against the West?
On Thursday, the Brics states will meet in Russia for their 16th summit. This will be the stage for Putin and his allies to challenge Western dominance. How strong is the alliance really?
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- At the Brics summit in Kazan, Russia, China and India demonstrate their determination to break away from the West.
- Brics is planning its own reserve currency in the long term and wants to act as a counterweight to Western-dominated financial structures such as the World Bank and the IMF.
- Despite being isolated by the war in Ukraine, Putin uses the Brics forum to show global support and strive for a "fairer world order".
Russian President Putin, China's President Xi Jinping and India's Prime Minister Narendra Modi meet in the Russian city of Kazan. The Brics summit takes place on Thursday. The aim is to replace the US dollar with a new reserve currency, fight against Western sanctions and break the supremacy of the West. How strong are the Brics countries really?
The West may have been isolating it since Vladimir Putin ordered the war of aggression against Ukraine in February 2022. But here in Kazan, at the 16th Brics summit, Putin can present himself as an urbane host, as Der Spiegel writes.
What are the Brics countries?
- The Brics countries are a group of emerging economies consisting of Brazil, Russia, India, China and South Africa, which are becoming increasingly interconnected economically and politically. They represent around 40 percent of the world's population and a significant proportion of global economic output. Cooperation between the Brics countries aims to strengthen their economic position and political influence on the world stage, often as a counterweight to Western-dominated institutions such as the World Bank and the IMF.
- Brics was founded in 2006 as "BRIC" by Brazil, Russia, India and China, with South Africa as a member since 2010. At the beginning of 2024, the association was expanded to include Iran, Egypt, Ethiopia and the United Arab Emirates and is now often referred to as "BRICS plus".
- Other countries have since announced that they also want to join the alliance. The countries include: Nigeria, Venezuela, Pakistan, Uzbekistan, Kazakhstan, Argentina, Mexico and the NATO country Turkey.
Putin wants to achieve a "just world order"
"The transition to a fairer world order will not be easy", said Putin on Thursday. The Brics members are determined "to oppose the practice of unlawful sanctions and attempts to undermine traditional moral values." Der Spiegel continues: "The Brics is Putin's counter-movement against the West. "The world majority", as the Russian ruler likes to call the alliance.
It has long been known that the Brics group wants to create its own reserve currency to replace the US dollar. The meeting on Thursday also appears to be a tool for Putin. After all, Russia is still embroiled in the Ukraine war.
The city of Kazan, around 1700 kilometers from Moscow, was specially spruced up for the summit. Many streets in the metropolis of millions were resurfaced, buildings were painted and the workers of several companies were asked not to drive through the city in their old, rusty and noisy cars. Schools and universities remained closed. Police had taken up positions on almost every street corner in the city center.
Chief economist assesses the Brics countries
The chief economist at UBS, Daniel Kalt, says: "One of the goals of the Brics countries is to increasingly decouple themselves from the western world. No major substantive progress was made during the summit." Nevertheless, the summit was important for Vladimir Putin in terms of both domestic and foreign policy.
Because with the Brics states, Putin was able to show that he is not as isolated as people in the West might think. "Putin wanted to show the West which states support him and that he can form alliances," explains Kalt. The latest developments in the Ukraine war also prove this. China is sending weapons and North Korea is apparently even sending Putin soldiers.
But can the Brics countries really do anything against the West? "I would say: never say never. If we look at the plan to establish our own reserve currency, we have to be aware that such a process can take several decades," says Kalt. Although we can see that the countries in the East are trading their currencies with each other, there is still a long way to go before a currency is established and could actually knock the US dollar off its pedestal.
Russia as host - despite the war in Ukraine
The host of the 16th Brics summit was Russia. The explanation: it was simply Russia's turn. However, the Brics states could have withdrawn Russia's chairmanship and thus its role as host, writes SRF. As a protest against the conflict in Ukraine.
But this was not considered. The Brics states want to demonstrate their solidarity with Russia. In doing so, they would be snubbing Ukraine and the West - or at least accepting it, writes the SRF.
However, it is not just the alliance between the states that unites them. First and foremost, they are united by the will to break the global dominance of the West. Some Brics states are ruled by autocratic regimes.
These reject the Western world order and values, which include liberal democracy, the rule of law and human rights.
