Experts' views on BRICS Summit

Editor's note: Since BRICS plays a significant role in global trade and investment, the BRICS Summit in Johannesburg, South Africa, will focus on trade and investment, remind developed nations that they are not fulfilling their commitment to combating climate change, and discuss ways to make global governance fairer. Four experts share their views on the issue with China Daily.

BRICS building a 'pluriversal' world

By Busani Ngcaweni

BRICS is emerging as a key bloc building toward a "pluriversal" world. "Pluriverse", a term believed to be coined by the Colombian American anthropologist Arturo Escobar in a 2018 book on design theory, refers to a world that is more multipolar, more inclusive, just, equitable, a world that respects the potential and contributions of all countries to human progress.

A "pluriversal" world embraces knowledge from all sources and cultures, and harnesses them to build a more humane community with a shared future. Such a world is the antithesis of the idea of unipolarity, espoused and practiced by the major powers of the Global North.

The convergence of historical and contemporary geopolitical events has helped the BRICS member states (Brazil, Russia, India, China and South Africa) gravitate toward the global center stage, with some other countries of the Global South following a similar path. But the statements and speeches of BRICS leaders suggest the grouping is not anti-Global North and has no intention to "decouple" from it.

Nonetheless, BRICS has an agenda: to make the global governance system more inclusive and egalitarian, improve the global financial institutions and help build a multipolar order that more accurately represents the objectives and ambitions of the developing countries.

The BRICS members are playing an increasingly important role in global development cooperation, and have strengthened their financial instruments while establishing distinct forms of South-South economic cooperation.

BRICS has increased its engagement with the Global South, African countries in particular, based on its core values of solidarity, inclusivity and a shared future.

As a result, the Global South believes BRICS will use its considerable economic weight to spread the benefits of economic development and help reduce their overreliance on former colonial powers.

Development that helps improve lives and livelihoods of the majority of the people in the world dominates the agenda of the 15th BRICS Summit to be held in Johannesburg, South Africa, this week. The discussions will cover topics such as trade, development financing, infrastructure development, skills development, global peace, climate change, research and development, innovation, and scientific advancement.

The success of this agenda has the potential to alter the global economy, and lift millions of people around the world out of poverty, which the Chinese leadership has succeeded in doing within the country. Brazil, India, Russia and South Africa, too, have implemented poverty alleviation policies which have helped lift millions of people out of poverty and build a strong middle class.

Besides, in their pursuit of sustainable development, the BRICS members are moving toward low-carbon, climate-resilient development, and contributing their fair share to global emissions reduction, with China having the most advanced adaptation and mitigation plans among the five BRICS members. At the same time, they ensure that global decisions made to reduce emissions do not harm the Global South's development prospects.

By doing so, the BRICS countries stress the primacy of multilateralism in the global climate agenda and highlight the importance of adhering to the principle of common but differentiated responsibilities and respective capabilities outlined in the United Nations Framework Convention on Climate Change.

It is because of these factors that, despite BRICS facing geopolitical and economic hurdles since its formation in 2009, trade and investment among its members has significantly increased, with China being the bloc's main economic driver. For instance, in 2022, intra-BRICS trade reached $162 billion, in spite of the impacts of the COVID-19 pandemic, soaring inflation and other economic shocks.

According to the World Bank, BRICS represents 42 percent of the global population, and accounts for 31 percent of global GDP (in purchasing power parity terms), more than the 30 percent of G7. No wonder BRICS is now considered one of the most important economic groupings in the world, and all signs show it will keep expanding.

Also, the BRICS members have been working on creating a common BRICS currency, so as to lessen their dependency on the US dollar and the euro.

But such endeavors will not be without challenges, such as obstacles created by existing global financial institutions. To overcome the challenges, the BRICS members have to make policies after serious deliberations and strategic maneuvering.

The BRICS countries also need to accelerate technology transfer and transformation, because technology is one of the main factors driving development. The transfer of technology while protecting intellectual property rights can help more profitably apply research results to businesses, which can already be seen in the joint training programs with South Africa, which began after it assumed the BRICS chair in February this year.

As some analysts and commentators have said, this year will likely see BRICS' biggest impact on the global economic and geopolitical landscape. A part of that impact will be the grouping's improved relationship with Africa as is evident from the theme of the BRICS Summit in Johannesburg: "BRICS and Africa: Partnership for Mutually Accelerated Growth, Sustainable Development and Inclusive Multilateralism".

South Africa, as BRICS chair, believes that no country can develop in isolation. The country's leadership has been consistent in this regard, taking advantage of every available opportunity such as at the G20 Summit to further the development of the entire African continent.

Other BRICS countries also recognize this fact, and that's why they are working toward inclusive development. In fact, the BRICS leaders need to be commended for keeping the grouping intact for 15 years, because despite the tectonic political shifts in the world, they have maintained the momentum of development. These leaders have not only managed the contradictions among the BRICS members well and handled geopolitical issues with aplomb, but also respect one another's vision for the organization.

Developing on the firm foundation of multilateralism, BRICS looks set to be front and center of the global quest to build a "pluriversal" world.

The author is director-general of the National School of Government of South Africa.