Expert: BRICS Expansion Becomes a Key Driver of Global Economic Growth

23 October

The expansion of BRICS member countries has become a crucial foundation for global economic growth, strengthening the group’s influence in global governance. This is the view expressed by Gou Liu, an expert from the Center for Russian Studies at East China Normal University, in an interview with TASS.

 

“The increase in BRICS members has turned the organization into a key engine for global economic recovery and an essential basis for global economic growth. It has also set an example for more emerging markets and developing countries by defending their sovereignty and economic independence while fostering shared development and joining the wave of globalization on equal and respectful terms,” said Liu. He added that this first BRICS summit with expanded membership would amplify the group’s voice on the world stage and consolidate its position in global economic and political governance.

 

However, Liu pointed out that the diverse interests and goals of BRICS members make it difficult to reach consensus, which can affect decision-making efficiency. He noted that BRICS faces several challenges, including the uncertain recovery of the global economy and internal economic issues in member states. Among the key obstacles, he cited the energy crisis, environmental concerns, debt burdens, and food insecurity. "Of course, the most serious external challenges come from containment, differentiation, and suppression by the US and the West. The US and the West view the BRICS summit as a tool to challenge the Western order," he said.

 

At the same time, Liu emphasized that BRICS is not aligned against the West. Instead, the group focuses on openness, inclusivity, cooperation, mutual benefit, the democratization of international relations, and improving the global governance system. "The BRICS cooperation mechanism is not anti-Western and is not aimed at overthrowing the existing world order. Its goal is constructive reform of unjust elements and providing more opportunities for developing countries," he explained.

 

The 16th BRICS Summit, a key event of Russia’s presidency of the organization, is being held in Kazan from October 22 to 24. BRICS was founded in 2006 by Brazil, Russia, India, and China, with South Africa joining in 2011. On January 1, 2024, Egypt, Iran, the UAE, Saudi Arabia, and Ethiopia will officially become full members of the group. This summit marks the first time these new members will participate, and representatives from over 30 countries are expected to attend.

 

 

GSV "Russia - Islamic World"

Photo: brics-russia2020.ru/Creative Commons 4.0

Based on materials from TASS