Written by Saurav Raj Pant (member of IPWG)
The BRICS nations (Brazil, Russia, India, China and South Africa), originally BRIC before the addition of South Africa in 2010, named as the “Emerging National Economies “have become a noticeable club in the Global Platform. According to the Christian Science Monitor, US based International News Organization, as of 2013 BRICS represents almost 3 billion people with combined nominal GDP of US$14.8 Trillion and an estimated US$4 trillion in combined foreign reserves building up one-third of the World’s seven Billion Population.
During BRICS meeting in March 2013 held in Durban, South Africa, the BRICS nations agreed to build the global financial institution of Contingent Reserves Agreement (CRA) with the Chinese contributing $41 Billion, Brazil, India and Russia $ 18 Billion each and South Africa $ 5 Billion which would be seen one of the counter to the Western-dominated IMF as reported by The Guardian.
BRICS is proposing to lead the transformation of geo-politics in the Uni-polar World countering the influence of Washington. The proposed BRICS Development Bank could possibly counter the Trans-Atlantic political and Economic influence and seven decades long dominance of Bretton Woods’ twins- International Monetary Fund and World Bank established after the Second World. This institution casually referred to as ‘Asia’s IMF ‘ in some Global Media seems strongly planned with over five summits and has shown excellent commitments to address and confront the any possible global financial shock.
While the MIST (Mexico, Indonesia, South Korea, Turkey) group lacks influence in global policy platform, most interestingly India and Brazil along with South Africa are looking for innovative windows to input their voice mostly in the Western dominated system. Russia’s effort is for multi-polarity and major Eastern European countries on her side.
Foreign Policy of BRICS overlook similarity as India and China represent two muscle adversaries in the Asia. Brazil and South Africa are ideologically and diplomatically not segregated. Russia and China are connected by border and both are strategic rivals to the US.
BRICS is trying to develop its base similar to the US and other Western countries. How should Western Capitals react with an increasing portion of their trade now being done with China and India? Is this group is sustainable and intensified? China and India have major bilateral and diplomatic differences as China’s increasing international influence and border conflicts raised from time to time show major ambiguity in building this economic and political club. But captivatingly on other portions of diplomacy, how Russia and China are going to respond to G-20 US and Western dominated Economic club which accounts the 90% of the world’s GDP and 80% of the World Trade is notable question posed by the Time.
Moreover, the duo of Russia and China has been in driving seat of this club. Regionalism and anti-Western spirits could lead to the mismanagement and inefficiency of the BRICS leading towards political risks. It will be a tough task to compete with the US and the West when the club has not been consolidated. Strong political turmoil in the Korean Peninsula, US increasing its strategic focus along the South China Sea, US drones strikes on the Pak-Afghan tribal regions, extremism, divided interests, rich-poor economic inequality, differences in political systems ranging from open democratic practice to narrow democratic practice to one party rule extends an arc of differences which will escalate the altercation among major powers. BRICS experiences a lack of homogeneity in the forms government system and there are deeply divided interests within. The growing mistrust between China and India with border related and other strategic entanglements back lashing the two big giants’ consortium. Many Western Eurocrats argue about the prospect of BRICS are being incompatible to their geographic position having weak turbine responsible for moving them and India- China’s openly seen rivalry.
Despite their major differences and thanks to their huge population; in absolute terms their economy is expanding and it has been seen capturing in the West-US radar. Yup, the group which comprises two big giants, ‘Indo-Sino Aspect’ (synonym for India-China relations) is growing and it is consecutively increasing talks in the US policy debates making the new calculus in the Post-American or Sino-World. On the contrary, US wants in the Asia – China, Japan as two multi-polar world engulfing the Chinese single supremacy and New Delhi to be Washington’s greater ally which makes US substantial power spectator and equilibrium in the Asia. East Asia – Japan and South Korea; the US greatest allies already had her strong military presence in the region. Additionally, Obama administration’s inclination is now moving towards South East Asia- searching for powerful hold along the Sino-dominated South China Sea region. US is alarm of Indo-Sino patch up in any forms, and therefore building her strong playmaking diplomatic role in some impoverished countries in the South Asia and equally partnering with India to counter with Beijing in some hard tendency Sino issues, and Nepal- Impoverish as well as post conflict country and Sandwich of India & China can be significantly act as a proxy zone via overseas spirits. US attention on the Indo-dominated South Asia (Excluding Pakistan and Afghanistan) and the Sino-dominated South East Asia perceive, BRICS is becoming beyond than economic club, it has been seen as a political tools in building productive ‘transaction’ in Asia-Pacific diplomatic dialogue and serious development of this coalition (Indo-Sino) as the BRICS could be game-changer for US in the future.
Author : ipwg