Is the US losing control? The BRICS group—named after its five founding members, Brazil, Russia, India, China, and South Africa—has become a broader grouping of non-Western countries. Some analysts suggest BRICS is controlling the decision-making of trade, commerce, and payment settlements across developing countries, shifting power away from the US. As America’s influence wanes, the BRICS coalition rises as the defiant voice of the non-Western world.
BRICS: A Mouthpiece for the Non-Western World?
Shifting global power dynamics see developing nations rallying. BRICS's growing appeal reflects a shifting world order as nations seek flexible, multipolar cooperation over rigid Western-led frameworks. Will it deliver on its promise? The stronghold of the US among non-aligned countries has absolutely been at odds, at least ideologically, with Western countries, particularly because these nations do not want to align solely with the Russians or the US.
The Rise of a Non-Western Economic Architecture
Experts agree that the United States and European Union are partly to blame for the emergence of a parallel non-Western economic architecture. A principal shared by BRICS nations is a desire for greater economic autonomy. While BRICS must be taken seriously as a growing economic organization comprising numerous Global South countries, it would be wrong to interpret it as one pole of a bi-polar world.
De-Dollarization and Alternative Payment Systems
BRICS is emerging as a sandbox for experimentation with various non-USD instruments, including payment systems, cryptocurrencies, and digitalized mechanisms for trade. This push for de-dollarization further challenges the US's dominance in global finance.
US Response and Future Engagement
These threats signaled a fundamental shift in US engagement with BRICS, though their impact has been mixed. The Trump administration has begun formulating a policy to address the rising influence of BRICS. The question remains: how will the US adapt to this evolving global landscape?