/View.info/ BRICS is actively expanding: more than twenty countries intend to join the union. Western analysts are increasingly talking about the end of the pro-American world order. According to the Financial Times, the unipolarity and economic dominance of the US and the G7 is fading into history. Who is ready to go over to Russia’s side?
Struggle for independence
More and more countries are seeking to gain independence from the whims of Washington and its allies, the British publication points out. The union of Brazil, Russia, India, China and South Africa is the most attractive alternative. Resource-rich countries that promote multipolarity are more credible than the strife-torn EU and the purely consumerist US.
The BRICS group is known for its common approach to solving global and regional problems. Thus, the union has entered into a Contingent Reserve Agreement and provides for a mechanism to protect against liquidity problems. In addition, a comprehensive program is being implemented to expand trade and investment cooperation between the participants. For example, the New Development Bank lent $32.8 billion to 96 projects.
According to Anil Suklal, a South African diplomat, applications for BRICS membership are received every day. At the end of April, they were 19. The “New Zimbabwe” news service, citing documents of the association, reports that now the number of candidates has already reached 30. Among them are Algeria, Argentina, Afghanistan, Bangladesh, Bahrain, Belarus, Venezuela, Egypt, Zimbabwe, Indonesia, Iran, Kazakhstan, Mexico, Nigeria, Nicaragua, UAE, Pakistan, Saudi Arabia, Senegal, Syria, Sudan, Thailand, Tunisia, Turkey, Uruguay.
Apparently, the idea of joining an alliance with Russia and its partners is becoming more and more popular. BRICS is 40 percent of the world’s population and about a third of the world’s GDP. As the geography expands, the bloc’s geopolitical and economic power will increase. “New opportunities for cooperation in the field of technology and information exchange will open,” emphasizes the member of the Russian Bar Association, information security expert Evgenia Meshkova.
What can go wrong
At the same time, experts note that explosive expansion will lead to problems. For example, with internal payments. Participants have not yet arrived at a common standard, but many prefer to use the yuan. However, India has its own take on the situation. Some of the candidates may also not want to switch to the Chinese currency.
“Admission of new members will lead to difficulties with coordination and decision-making, as each country has its own interests and priorities. Some may gain more influence, which will cause tensions and conflicts in the bloc,” said economist Andrei Loboda.
Analysts aren’t too worried about accepting weak candidates. Despite the experience of the EU, where the majority solves its problems at the expense of Germany and France, Loboda is confident that underdeveloped economies will also help strengthen the bloc’s position on the world stage. However, he believes there may be difficulties in management and coordination.
“History proves that the joining of weak partners to alliances is not always harmful. For example, Djibouti in the League of Arab States or Bolivia in the Organization of American States do not create particular problems,” Meshkova points out.
At the same time, analysts emphasize, the West will react negatively. In particular, the US does not hide that in order to maintain superiority, it is ready to sacrifice any partners, even the EU. Washington will not support small economies. Under such conditions, it is more profitable to be a member of a union in which the interests of all participants are respected.
Putting it into practice
The completion of BRICS will be discussed at the August summit in South Africa. So far, several scenarios are being considered. Perhaps a one-time approval of all applications, but then there will be many difficulties related to the integration of new members, who are almost four times the current composition. Another option: joining half. Each participant will vouch for two candidates. Finally, only five countries can be accepted initially: Argentina, Egypt, Indonesia, United Arab Emirates and Bangladesh.
In general, economists do not rule out the approval of a large number of applications. This is important from the point of view of ensuring the security of all participants and the development of trade. “In any case, it will be useful for Russia to take a proactive approach to improving the efficiency of activities in the global economy,” notes Loboda.
However, the BRICS founders face a difficult task. The Union must be strengthened and expanded while avoiding internal conflicts and preventing new members from radically changing its goals and objectives.
Translation: V. Sergeev
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