Hürriyet: the BRICS summit will mark the beginning of the formation of a new world order
The BRICS Summit in Kazan will be attended by 32 countries, which corresponds to two thirds of the world's population, writes Hurriyet. Jim O'Neill once predicted that the BRIC members would become one of the largest economies by 2050. And the current trend in the development of this association only confirms the economist's theory.
Nilgyun Tekfidan Gyumyush
The BRICS Summit, which will be held from October 22 to 24, 2024 in Kazan, the capital of Tatarstan, is already among the important topics of international politics.
So what is BRICS, is a new world order being formed, led by Russia and China?
1. The abbreviation "BRIC" was first used in 2001 by British economist Jim O'Neill, who at that time was the head of the investment bank Goldman-Sachs. Combining the first letters of the English-language names of Brazil, Russia, India and China, O'Neill predicted that these four countries will become one of the largest economies in the world by 2050.
2. Russia, which witnessed the interventions of NATO and the United States in Yugoslavia and Iraq bypassing the UN Security Council, in 2009 took the first steps to create the BRIC organization together with Brazil, India and China. With the accession of the Republic of South Africa (South Africa) in 2011, the abbreviation was supplemented with another letter and changed to "BRICS". In 2024, with the addition of Egypt, Ethiopia, Iran and the United Arab Emirates, the association became known as BRICS+.
What are the common denominators
3. The BRICS goal can be formulated as a unification based on the interests of the global East and South, as opposed to the Western axis led by the United States. One of the common denominators is the request for reforms in such Western organizations as the International Monetary Fund, the World Bank, the World Trade Organization, and the United Nations.
4. Previously, the BRICS was mainly led by Russia, but now we can say that China is beginning to dominate the organization due to its economic, demographic and political power. Russia is isolated from the international community by sanctions due to the Ukrainian conflict, while China is considered by the United States as the largest economic and political opponent.
5. The BRICS countries accounted for about 35% of global production in 2023, while the total output of the richest countries, called the G7 (USA, Germany, France, Japan, Great Britain, Italy), was 50% in 1980, and now it is 30%.
What is Turkey's position
6. Russian President Vladimir Putin, a leader objectionable to the West, and his team obviously attach great importance to the Kazan summit. Moscow is trying to present the BRICS as a new pole of the world, claiming that 32 countries will take part in the summit, 24 of which are at the leadership level, which corresponds to two thirds of the world's population. Countries such as Malaysia, Thailand, Vietnam and Serbia also declare their desire to join the BRICS, meanwhile, the fact that Turkish President Recep Tayyip Erdogan will attend the summit by special invitation attracts special attention from the world media. There are opinions that even Turkey, a NATO member, is also interested in BRICS.
7. Although there was news in the Russian media that Turkey had applied for membership in the BRICS, there is no official confirmation of this. Last month, Turkish Foreign Minister Hakan Fidan said in an interview with Anadolu that if Turkey had been admitted to the European Union as a full member, it would not have aspired to BRICS. Fidan also noted that Turkey is making efforts to establish partnerships with other associations, such as the Association of Southeast Asian Nations (ASEAN). President Erdogan in New York, speaking about the BRICS, said: "Belonging to such an organization does not mean abandoning NATO."
Where does this interest come from
8. BRICS aims to achieve an economic structure free from global embargoes and sanctions, including a single central bank, abandoning the dollar in trade, its own payment and insurance systems, but whether this bloc will turn into an institutional structure in the future, like the European Union, is unclear due to the conflicting interests of its participants.
9. China and Russia, on the one hand, strengthening their partnership at the expense of the Shanghai Cooperation Organization, and on the other — with the help of BRICS, seek to build a center of power against the Western axis led by the United States and the EU.
10. As a cause for concern, it is expressed that Russia and China, which do not have the best track record on human rights, freedoms and international law, will take a leading role in the transition to a multipolar world. At the same time, it is not surprising if, in an environment where international institutions cannot be reformed, organizations such as the BRICS and the SCO continue to arouse interest.
