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BRICS Can Voice Global South Without Becoming G7 Alternative

BRICS Can Voice Global South Without Becoming G7 Alternative
Voice of the Global South: Can Brics do more than vocalize a vision for the world order? · livemint.com

BRICS is a group that lets countries discuss how the world should be organized.

Its members can work together without ending their relationships with the United States or Europe.

This flexibility is one reason BRICS can be useful.

However, BRICS is not the same as the Group of Seven.

It is not a military alliance.

It is also not one fully united economic team.

Its New Development Bank is much smaller than the World Bank.

Attempts to rely less on the US dollar are happening slowly.

The main question is whether BRICS can turn its shared ideas into greater practical influence.

Key facts

Role of BRICS
A platform for expressing a vision for the global order.
Relationship flexibility
Members do not have to abandon ties with the United States, Europe or other institutions.
Military status
BRICS is not a military alliance.
Economic status
BRICS is not a unified economic bloc.
New Development Bank
The bank is small compared with the World Bank.
Currency efforts
Reducing dependence on the US dollar is described as evolutionary rather than revolutionary.

Sources

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