Overview

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New joiners Iran and Saudi Arabia remain locked in a power struggle in the Middle East and are likely to be major players in the Israeli-Palestinian conflict. As discussed With an accelerated expansion in 2025 and ambitious plans to reform the international financial system, the BRICS are presenting themselves as an alternative to Calls for reforming the international order, amplified by Beijing and Moscow, are gaining traction in the Global South. Is the U.S. paying enough attention? As of Jan. 1, 2025, the group will already welcome six new members (Ethiopia, Egypt, Argentina, Iran and Saudi Arabia), while the list of candidate countries for Drawing on existing literature, this paper will examine the rising economic power and influence of BRICS as a bloc, its benefits to its members, its impact on global The declaration encourages correspondent banking networks within Brics, and enabling settlements in local currencies in line with the Brics Cross-Border Payments We believe that the BRICS forum promises a new multipolar world order where the Global South truly matters. It seeks to achieve that goal through reform not Following statements made during a speech, it is clear that both BRICS and Biden agree that a new world order is necessary. Subsequently, Russian spokesperson Dmitry In response, Kremlin spokesman Dmitry Peskov told journalists in Moscow: “We absolutely agree with Mr Biden. This is a rare case when we absolutely agree with what

BRICS, Biden, and a New World Order: Convergence or Conflict?

The global landscape is shifting. Following statements made during a speech, it is clear that both BRICS and Biden agree that a new world order is necessary. Subsequently, Russian spokesperson Dmitry In response, Kremlin spokesman Dmitry Peskov told journalists in Moscow: “We absolutely agree with Mr Biden. This is a rare case when we absolutely agree with what” he said, highlighting a surprising point of agreement amid geopolitical tensions.

The Rise of BRICS and Calls for Change

Calls for reforming the international order, amplified by Beijing and Moscow, are gaining traction in the Global South. Is the U.S. paying enough attention? The BRICS forum promises a new multipolar world order where the Global South truly matters. It seeks to achieve that goal through reform not revolution. Drawing on existing literature, this paper will examine the rising economic power and influence of BRICS as a bloc, its benefits to its members, its impact on global power dynamics, and its push for a new international financial architecture.

BRICS Expansion and its Impact

As of Jan. 1, 2025, the group will already welcome six new members (Ethiopia, Egypt, Argentina, Iran and Saudi Arabia), while the list of candidate countries for future expansion continues to grow. With an accelerated expansion in 2025 and ambitious plans to reform the international financial system, the BRICS are presenting themselves as an alternative to the existing global order.

Challenges and Tensions Within the BRICS Bloc

The expansion of BRICS is not without its challenges. New joiners Iran and Saudi Arabia remain locked in a power struggle in the Middle East and are likely to be major players in the Israeli-Palestinian conflict. Managing these internal tensions will be crucial for the bloc's long-term success.

Financial Independence and Local Currencies

The declaration encourages correspondent banking networks within Brics, and enabling settlements in local currencies in line with the Brics Cross-Border Payments framework. This move signifies a push for greater financial independence and a move away from reliance on the US dollar.