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BRICS, a coalition of 11 countries that together represent half of the world's population and contribute over 65% of the gross domestic product of the Global South, faces challenges in political cohesion despite its significant economic strength. The alliance originated from an idea in 2001 and expanded to include countries like South Africa, aiming to strengthen the role of emerging economies and counter Western dominance. Although intra-bloc trade remains relatively low, accounting for less than 20%, BRICS has made progress in establishing shared financial instruments, such as the New Development Bank, which financed approximately 139 projects valued at nearly $43 billion up to the end of 2025. Additionally, the group is working to reduce reliance on the US dollar, with Russia’s trade within BRICS using local currencies for about 90% of transactions in 2024. However, expansion has complicated political consensus, with numerous meetings failing to produce unified stances on international issues. There is disagreement among members over whether BRICS should evolve into a geopolitical power confronting the West or remain a purely economic, non-political platform.
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