Global majority remakes mankind's future

MA XUEJING/CHINA DAILY

Under the leadership of a strong Global South, we will see the emergence of a multipolar world where all nations are equal and there are no wars

The Global South should now be called the "global majority" to do justice to its socio-economic, geopolitical and civilizational impact on the shape of things to come in this world. The Global South is now consolidating around the growing power of BRICS Plus to recreate the world in the model of a multipolar, just, equitable and democratic new world order.

The consolidation and expansion of BRICS Plus in January has boosted the gravitas of the economic and geopolitical alliance of major developing countries from the representative regions of the world as it overtakes the developed nations of the G7 in economic and resources potential.

With the entry of Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates from North Africa and the Middle East in January, the BRICS bloc now represents more than 45 percent of the world's population, controls around 45 percent of the world's oil production and accounts for a larger share (nearly 36 percent) of global GDP than the G7 countries (less than 30 percent) when adjusted for purchasing power parity.

Equally impressive are the achievements in economic exchange among member states of the original bloc that are bound to grow with the new membership. Among the bloc's original five members, trade rose 56 percent between 2017 and 2022 to $422 billion, while BRICS-endorsed trade in local currency among these countries has significantly cut transactions costs.

BRICS also leads global discussion on the "de-dollarization" of the global financial and economic system, and the creation of digital currency and blockchain payment system. The last vestiges of the unipolar world and the era of Western colonialism are being irreversibly severed to ensure an equitable global system of trade, financial transactions and international commercial relations.

One remarkable BRICS milestone is the establishment of the BRICS bank that has granted loans worth $33 billion to date for a total of 98 projects in its five founding-member countries. This loan portfolio is clearly destined for even more dramatic growth with its five new members and over 30 other countries that have evinced interest to be part of the bloc in the near future.

While BRICS has acted primarily as an economic bloc, it recently made a welcome move to respond to the exploding humanitarian crisis in the Gaza Strip. In a virtual summit chaired by South Africa, the BRICS group called for an end to Israel's military campaign in Gaza.

The interest in BRICS by some 30 other countries was first indicated by South Africa, the BRICS chair in 2023. Later, Russia, the 2024 chair, re-affirmed it. In President Vladimir Putin's words, "We will spare no effort to ensure that, while preserving traditions and being guided by the experience gained by the association in years past, we facilitate the harmonious integration of new participants in all formats of its activities."

BRICS' rotating leadership demonstrates the democratic spirit of the grouping that is based on the shared values of openness, cooperation and solidarity, all these based on its envisioned multipolar world. The very existence of BRICS and its dramatic growth demonstrates that these values work, hence the growing interest of nations to participate in this new, visionary project to advance the global majority in particular and humanity in general.

In line with its traditional role of supporting the economic development impetus of Global South countries, China is a major inspiration and moving force behind BRICS. I am continually reminded of the Tanzania-Zambia railway, an inspiring project initiated in the 1970s to begin the development of Africa even when China itself was still rising from poverty.

Today China is connecting the entire world with its Belt and Road Initiative, linking Eurasia with Africa and the world via land, power and digital communications corridors, and the maritime nations through the Maritime Silk Road. As the global majority takes the initiative in this new era, a BRICS and BRI collaboration needs to be established to tighten BRICS solidarity and economic security.

Elements from the unipolar era continue to seek the failure of the global majority, instigating conflict and tensions all over the world and attempting to divide developing nations. One sad example is the Philippines, a country where I am from, that is being turned into a proxy to push conflict between nations in Asia. Fortunately, Association of Southeast Asian Nations remains steadfastly independent and some even contemplate a coalition with BRICS.

There will be bumps on the road to realizing the ultimate vision of the global majority and BRICS but the future is certain: a multipolar world where all nations are equal and "forever wars" of the unipolar moment are forever gone to be replaced by the "forever peace and prosperity" of a remade world order under the leadership of the global majority also known as the Global South. As the global majority speaks and moves, the world now moves with it.

The author is founder of the Asian Century Philippines Strategic Studies Institute. The author contributed this article to China Watch, a think tank powered by China Daily.

Contact the editor at editor@chinawatch.cn.