BRICS: economic power, soft power or both?

BRICS, more recently, BRICS+ is playing an increasingly prominent role on the global stage through both its economic strength and growing diplomatic influence.

- COLE JACKSON

Representing nearly half the world’s population and a substantial portion of global GDP and trade, the group has demonstrated clear economic power.

At the same time, its efforts to promote multilateralism, cultural exchange, and peaceful conflict resolution reflect a deliberate use of soft power. Its core focus areas — political cooperation, financial development, and people-to-people engagement - showcase a blend of hard and soft influence. From launching the New Development Bank to encouraging trade in local currencies and hosting youth and academic forums, BRICS is a formidable force in a shifting global order.

BRICS upholds three main pillars: (1) political and security; (2) economic and financial; and (3) cultural and people to people cooperation. Regarding pillar (1) the grouping addresses global security issues and aims to improve global governance through the promotion of multilateralism.