A Push for a Multipolar World
The central theme resonating from Johannesburg was the call for a 'multipolar' world order. This vision, strongly championed by China and Russia, challenges the post-Cold War dominance of the United States and its Western allies. The rhetoric at the summit
focused on creating a more equitable system that gives a greater voice to the 'Global South'—a term for developing nations in Asia, Africa, and Latin America. Proponents argue that institutions like the UN, World Bank, and IMF, created in a different era, no longer reflect global economic and demographic realities and require fundamental reform to be more representative. This view frames BRICS as a vehicle for countries that feel marginalized by the current system to collectively advocate for change.
The Great Expansion Debate
The most significant outcome of the summit was the invitation extended to six new countries: Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates. This decision to expand for the first time since 2010 was not straightforward and revealed the different strategies within the bloc itself. China was a vocal proponent of rapid, large-scale expansion, seeing it as a way to build a broader coalition to act as a counterweight to the G7. Russia, facing international isolation, also supported this move. However, India and Brazil were more cautious. Their perspective favoured a gradual approach, with clear criteria for new members, to ensure the group's cohesion and prevent it from becoming an overtly anti-Western bloc. This tension between expanding for influence versus maintaining coherence was a defining feature of the summit.
The De-Dollarisation Dream
Another key discussion revolved around 'de-dollarisation'—the push to reduce reliance on the US dollar for international trade and finance. The use of economic sanctions by the West has accelerated this conversation, with countries seeking alternatives to mitigate their vulnerability. At the summit, leaders tasked their finance ministers and central bank governors to explore the feasibility of increasing the use of local currencies for trade between member nations. The BRICS' New Development Bank (NDB) was highlighted as an institution that could facilitate this shift by offering loans in local currencies. While the ambitious idea of a single BRICS currency remains a distant prospect, the political intent to create a new financial architecture outside the dollar's orbit was made clear.
India’s Strategic Balancing Act
For India, the Johannesburg summit was a complex diplomatic balancing act. While sharing the desire for a more inclusive global order, New Delhi is wary of the bloc being dominated by China or turning into an explicitly anti-American platform. India's position is that of a 'leading power' in its own right, not a junior partner in a China-led order. By insisting on consensus-based rules for expansion, India was able to moderate the pace and ensure the inclusion of countries with which it has strong strategic partnerships, like the UAE and Egypt. This reflects India’s broader foreign policy of 'multi-alignment,' where it actively participates in groups like BRICS and the Shanghai Cooperation Organisation, while also being a key member of the Quad with the US, Japan, and Australia. India aims to be a bridge, not a follower, advocating for reformed multilateralism rather than a confrontational new bloc.
