By Ankit Prasad, CGTN biz commentator
As BRICS convenes its 17th summit in Rio de Janeiro, Brazil, the once-theoretical economic bloc has emerged as a dynamic force for inclusive, multipolar cooperation. Formed from a 2001 Goldman Sachs thesis forecasting the rise of Brazil, Russia, India, and China, the group has grown in scope, membership, and ambition. Today, with ten full members—including South Africa, Egypt, Ethiopia, Iran, Indonesia, and the UAE—BRICS represents over 40% of the global population and an estimated 41% of global GDP in purchasing power parity by 2025.
The 2025 summit theme, “Strengthening Global South Cooperation for More Inclusive and Sustainable Governance,” reflects BRICS’ evolved identity. No longer defined solely by economic metrics, BRICS has positioned itself as a leader in reforming global governance, addressing key areas like health, trade, climate change, artificial intelligence, and multilateral peace and security.
Beyond symbolic summits, BRICS operates a robust framework of more than 120 annual meetings and initiatives—including forums on business, women, finance, civil society, and youth. These efforts underscore BRICS’ role as a broad-based platform rather than a reactionary alliance.
The group’s expansion of “Partner Country” status to 10 additional nations, from Nigeria to Vietnam, deepens its global integration and influence across Latin America, Asia, and Africa. This institutional inclusivity reflects a model rooted in cooperative rather than competitive growth.
As the world contends with rising multipolarity and demands for equitable global systems, BRICS’ steady evolution from economic alliance to development-driven coalition offers a compelling alternative to traditional power structures. Its growing legitimacy among developing nations, coupled with structural cohesion and broad representation, signals that the BRICS model is not just coming of age—it is redefining the age itself.
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