BRICS continues to offer powerful alternative global vision

Leaders attending the plenary session of "Peace and Security and Reform of Global Governance" of the 17th BRICS Summit pose for a group photo in Rio de Janeiro, Brazil, July 6, 2025. [Photo/Xinhua]

By Anthony Moretti

The annual BRICS Summit continues in Brazil, where the delegations are affirming the goals of, and opportunities for, the organization.

The Rio de Janeiro Declaration of the 17th BRICS Summit was adopted on Sunday, and it served as a reminder that at its core, BRICS commits itself to strengthening cooperation among nations and fostering equitable development across the globe.

This year's declaration also noted more than once that BRICS fiercely promotes peace and sustainability. The contrast between the military-first attitude of certain Western nations that also seem hostile to a green world was unmistakable.

One theme has remained front and center in Brazil: multilateralism. The summit's declaration confirms the need to reform and improve global governance through a "democratic and accountable international and multilateral system in the spirit of extensive consultation, joint contribution and shared benefits."

Related to this, the Chinese delegation, led by Premier Li Qiang, at the summit affirmed that China remained positive about working with Brazil, and by extension all BRICS nations. Li said that China stands ready to join hands with other BRICS countries to promote global governance in a more just, equitable, efficient and orderly direction, working collectively to build a better world.

Significant attention has focused on how the New Development Bank (NDB) would back a plan that would make development funding more affordable. One media report added that there was an expectation that each dollar delivered by the NDB would generate between $5 and $10 in private capital.

The declaration praised the work of the NDB, noting that all BRICS nations applauded the bank's "capacity to mobilize resources, foster innovation, expand local currency financing, diversify funding sources, and support impactful projects that advance sustainable development, reduce inequality, and promote infrastructure investments and economic integration."

China's leading role in establishing the bank cannot be ignored.Boston University's analysis of the NDBsuggested that it was "created by, led by and for emerging and developing countries; and where the founding emerging and developing members also currently have equal financial contributions and an equal voice." Viewed another way, no one nation can arbitrarily shut down plans that the majority wanted to pursue. Currently, 12 nations are members of the bank; others seem certain to be added in the coming years.

Chinese Premier Li Qiang addresses the plenary session of "Peace and Security and Reform of Global Governance" of the 17th BRICS Summit in Rio de Janeiro, Brazil, July 6, 2025. [Photo/Xinhua]

Nigeria became a BRICS partner nation in 2025, and one element of its participation this year is noteworthy.According to one Nigerian news outlet, Nigerian President Bola Ahmed Tinubu would use his time at the summit to impress upon attendees that his country is primed for global investment, especially in critical areas such as agriculture, as it also further develops its global competitiveness. Those words – global investment and global competitiveness – have come to define BRICS.

It is unfair to claim, as many critics do, that BRICS exists solely to counter the West's dominance in the global finance and business world. However, it is fair to acknowledge that BRICS continues to create reasoned policies and practices that allow for all nations to see that there is a legitimate alternative to the West's hegemony.

Thus, it should surprise no one that the U.S. President Donald Trump outcried on his social media that any country aligning themselves with the "Anti-American policies" of BRICS will be charged an additional 10 percent tariff.

A couple of days before the summit began, information leaked that theBRICS leaders were prepared to denounce"the rise of unjustified unilateral protectionist measures" and the "indiscriminate raising" of tariffs. Such a statement should not be viewed through a political lens; instead, all world leaders should accept that tariffs swim against the tide of the times that include a focus on global growth.

Likewise, the summit attendees should be applauded for making clear thatcrisis locations including Gaza and Iranremain so largely because the West has not used its diplomatic power to bring about peace.Brazil's president chided the Westfor its failure, saying, "If international governance does not reflect the new multipolar reality of the 21st century, it is up to BRICS to help bring it up to date."

Do not be surprised if that happens.

Western leaders would be wise to remember that seven years ago BRICS surpassed the Group of Seven's (G7) share of the world's GDP when purchasing power parity is included. Thosetrend lines continue to move in BRICS' favor; in 2024, for example, BRICS was home to 35 percent of GDP while the G7 came in at 30 percent.

Ultimately, BRICS is about creating an infrastructure in which development and governance are associated with ensuring benefit to all countries. As many of its countries continue to move toward generating and exporting high-quality products, optimism should continue to abound. In Brazil, that infrastructure is being celebrated and plans to strengthen it are being outlined.

Anthony Moretti, a special commentator for CGTN, is an associate professor at the Department of Communication and Organizational Leadership at Robert Morris University in the U.S.