Brics+ Can Pressure the World to Work Out a New Order

The group may lack geopolitical cohesion but can still serve a purpose that its member nations would value

- NARAYAN RAMACHANDRAN

At first there were four. Then five. And now eleven. Egypt, UAE, Ethiopia, Iran, Saudi Arabia, and Indonesia have joined Brazil, Russia, India, China, and South Africa (collectively called Brics) in the newly expanded Brics+ group of nations. Brics+ is an eclectic grouping of countries. It owes its conception to a Wall Street report written a quarter of a century ago about the initial four 'Bric' countries and the promise of their economic prospects, mostly driven by demographics. What began as a clubbing meant for global investors to focus on has since evolved into a formal alternative platform for countries to counter Western dominance of multilateral institutions. This makes it an important forum for a post-Pax Americana world, if you will.

The group is as notable for its differences as for its common purpose. Its members make up 49% of the world's population and 41% of global output (in purchasing power parity terms). In many ways, Brics+ is at par with the G-7 in economic importance. A few members are outright adversaries of the West, such as China, Russia, and Iran. Others like India, Brazil, Indonesia, and the UAE are keen to retain their flexibility to swing both ways. Only India recognizes China as a competitor; all others have sought to befriend China through this group or keep their relations with it and the West on an even keel.