BRICS: Emerging counterweight in a multipolar world? | DW Analysis

The BRICS – a cooperation of Brazil, Russia, India, China, and South Africa – has evolved from a mere slogan to a real-world economic bloc, preparing for its next summit in Johannesburg. The group controls a major development bank and is now thinking of expansion.

What is BRICS, what does it want, and how powerful is the group today?

#russia #india #china

00:00 Intro
01:01 How did BRICS start?
03:15 What does BRICS want?
04:59 How united is BRICS?
07:06 Why does BRICS want to expand?

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[hellshulk]

Best part about BRICS is that they don't plan failure of non-member states.

[virginiachang]

I believe BRICS brings hope for developing countries’ dignity. The world is tired of the G7’s lecturing and arrogance.

[ZgO_o]

Best part with BRICS is they dont interfere with your country's internal affairs in exchange for loans and actually builds infrastructure, roads, railways, air-ports etc

[shantanushekharsjunerft]

A retired Indian NSA said recently that domestic policies are run on values while foreign policy is run on naked self interest. India will be found in several groupings but it has three priorities. The first being its own security and economic prosperity. The second priority is to prevent Cold War type blocks and tensions. Finally, the third priority is to look out for the global south.

[janellejacob]

The media is currently barraged with a lot of economic data right now. It takes a lot to see beyond the whole ocean of news on focus on what is important, which is that no matter how low stocks go, they always bounce back. I really ignore all the news and keep investing. I recently allocated about $120k to put in the market as we anticipate a crash. Any recommendations?

[naynay]

China and India are really the only high growing economies in BRICS today, and they have a tense history.

[Jennapeters]

Stocks are rallying but I know better, macro shows the economy is yet to recover. I been holding stocks to sell at a profit at this time but it is looking like a bull market the rest of 2023. I am in a fight to hold or to sell. I’m up to 297 grand from a low of 250 thousand last year.

[currentaf]

Both india and Brazil have categorically stated that they support expansion of BRICS

[karthi]

The main difference is West alliance based on countries with same idealogy, people and shared history. BRICS is so different, trying to collaborate on common goals.

[askcleftnew]

BRICS dont require each country to change, they'll always be differences, no compromises and with each country having it own interest.

[AryanSingh-eqjv]

China and India always had the highest global gdp output in the world historically speaking and its getting its throne back. Europe is a recent glitch in the system of natural power dynamics of the world and europe would be put in its place soon enough.

[sirkl]

While I share India's concerns about China's attempts to convert BRICS into an arm of their own soft and hard power, I genuinely hope that overall this can rise to be a real competitor to the Western economic order. I say this as an American, but not as an elite. I do not benefit from Wall Street's hegemonic control over global finance, but I would benefit from it being challenged.

[thomHD]

Existing developed nations are looking more toward India while increasingly turning away from China. India is also part of the QUAD alliance, more or less against China, so it's difficult to view BRICS as a unified thing.

[rosslogie]

China has a two tiered currency system which A) has been incredibly useful for them in manipulating the currency value allowing them to become the world manufacturing HUB and B) is not a free floating currency. In order for this de dollarization to be anything other than political posturing China would need to open it's currency to the markets to even contend with the USD. China has no intentions of ever doing this since making it's currency free floating would instantly see the value soar and hurt all domestic manufacturing.

China and India are not allies and both of them benefit from the current status quo. You can take BRICs seriously the day you see China remove it's two tier currency structure. Don't hold your breath.

[jainathsing]

I'm from CANADA 🇨🇦🇨🇦
Ever since i met Mrs Sophia I'm now living big life, she is the best

[ToneyCrimson]

I think its fine working together, better than nuclear war.

[khayasontsele]

I love the concept of BRICS, and I hope the bloc expands aggressively too. I will be most pleased if it manages to attract a few more European countries too. I have to also question the long term position of Italy and Japan in G7. Each for different reasons. Italy: could they be the next to exit the EU? Japan is an aging country, a mature economy that desperately needs stimulus. That stimulus is not likely to emerge from the West. And Japan largely has good relationships with current BRICS member states. Could BRICS be an attractive alternative for them over the next 15 to 20 years? I am going to watch this space with great interest.

[cxzact]

Yeah I don't know. In South Africa, for example, we don't even have a single direct commercial flight to India or Russia. Which may sound trivial but it shows that there is no demand (if there was some airline would have jumped on it already) for travel or connection between those places. We have very little in common with these countries. If only Africa could gather itself together to build strong continental institutions. Otherwise this rock we call Africa is doomed to more foreign colonialism under a different banner in the future.

[saurabhtiwari]

Dear DW, please correct your map of India at 6:11. Why you are showing indian states of arunachal pradesh and j&k as part of china?

[shubashuba]

In order for BRICS to succeed, each country would have to start unifying their policies. For example, in order to have a shared currency, they would have to unify their monetary policies. Otherwise, one country could just mass print the BRICS currency and cause hyperinflation. I don't see this happening any time soon given how different each country is when it comes to economic theory and policy.