Greater BRICS CooperationShapes the Future of the Global South

The collective rise of the Global South is a clear sign of great changes taking place in the world. It has resulted in the inception and development of the BRICS cooperation mechanism which in turn also offers driving forces for the all-round advancement of the Global South. The BRICS mechanism， a major cooperation platform of the Global South， has increased representation and influence with its expansion. It stands as a stronger force of solidarity and cooperation uniting more countries of the Global South.

Economic Rise of the Global South and Origin of BRICS

The economic rise of the Global South is a crucial foundation for the establishment of the BRICS mechanism and its continuous development.

I. BRICS Nations， Epitome of the Global South’s Economic Rise

The Global South has been on the fast lane of economic development since the 21st century. According to the International Monetary Fund （IMF）， the GDP of emerging markets and developing economies in 2001 was approximately $7.21 trillion， accounting for 21.3% of the global GDP， an increase of 4.3 percentage points since 1991. Calculated by purchasing power parity， these economies represented 42.1% of the global GDP， up 6.5 percentage points from 1991. Brazil， Russia， India， and China had a combined GDP of around $2.71 trillion， representing 37.6% of the GDP of emerging markets and developing economies by market exchange rates， and 40.6% by purchasing power parity. By 2010， their combined GDP exceeded half of that of the emerging markets and developing economies， reaching 50.2%. It is fair to see BRICS nations as an epitome of the economic ascent of the Global South.

Recognizing the sound momentum and investment potential of these countries， Jim O’Neill， then Chief Economist at Goldman Sachs， coined the term BRICs in 2001. Subsequently， Goldman Sachs launched a BRICs fund to attract investment in emerging markets， focusing on opportunities created by the rise of the Global South. Initially， the concept of BRICs was viewed as a representative of emerging markets in investment terms.

II. BRICS Cooperation Mechanism， Product of the Global South’s Economic Rise

With a rising economic volume， the Global South enjoys growing influence in the global political and economic system day by day. At the same time， it also faces more constraints of the existing international system. On the one hand， the Global South struggles to match its influence with its capabilities or rights with its contributions. Despite increasing economic strength， its representation and voting rights in economic institutions like the World Bank and the IMF have not improved in tandem with economic growth. The gap has even widened， resulting in a bigger democratic deficit in global governance. On the other hand， the legitimate rights and interests of the Global South are not well protected. In the existing international system dominated by developed countries， a handful of them often undermine international rules to stifle the development of the Global South countries and harm their interests.

In this context， it is increasingly necessary and important to deepen cooperation among the Global South countries. That was how Brazil， Russia， India， and China， four major players of the Global South with significant international and regional influence， came together to initiate the BRIC and advance its development. In September 2006， the foreign ministers of the four countries held their first meeting on the margins of the UN General Assembly， marking the establishment of the foreign ministers’ meeting mechanism. In June 2009， the leaders of the four nations met in Yekaterinburg， Russia， upgrading the mechanism to a summit level.

In short， the context of the BRICS mechanism is the collective rise of the Global South. On the one hand， the economic rise of the Global South serves as an important foundation for its establishment. On the other hand， the BRICS mechanism adds momentum to the development of the Global South.

BRICS： New Cooperation Mechanism for the Global South

BRICS， a new cooperation mechanism for the Global South， offers a platform for cooperation among nations of the Global South， and provides them with a channel for participation in global governance.

I. BRICS Spirit Conforms to Historical Trends

BRICS countries champion and uphold the spirit of openness， inclusiveness and win-win cooperation， defend the UN-centered international system， the international order based on international law， and the basic norms of international relations underpinned by the purposes and principles of the U.N. Charter， and promote greater democracy in international relations.

Openness and inclusivity is a distinctive feature of economic globalization， and a hallmark of the BRICS mechanism that brings together countries with different social systems， cultures， and development models. Openness fosters progress. An open world economy makes it possible for nations to leverage complementary advantages and create synergy for global development. The BRICS mechanism does not target any specific nation or form exclusive political and economic groups， but helps developing countries participate in and benefit from BRICS cooperation. Upholding the principle of seeking common ground while shelving differences and promoting mutual respect， BRICS member states strive for common prosperity through cultural exchanges and mutual learning. Openness and inclusiveness is an inherent requirement of BRICS cooperation and an important guarantee for its steady development in the long run.

Win-win cooperation comes from the shared aspiration of developing countries in pursuit of development. Cooperation is both a means and an end. To be fair， the BRICS member states do have differences and divergences， or even frictions that cannot be addressed in the short run. Despite this， they seek common ground while shelving differences and pursue development through cooperation. By accommodating the interests and concerns of relevant parties， BRICS cooperation benefits all member states， and its positive spillover brings benefits to non-BRICS nations as well. In this sense， win-win cooperation is what BRICS aspires to， and also what drives its further development.

II. BRICS Plus Brings Development Opportunities to the Global South

The BRICS Plus model represents a new approach in the development of international mechanisms. As early as 2013， after the fifth BRICS Summit in Durban， the leaders of the five BRICS countries engaged in dialogue with leaders of 15 African nations to explore new opportunities for cooperation. This approach continued throughout the subsequent summits. BRICS leaders had dialogues with their Latin American counterparts in 2014 at the 6th summit， with leaders of SCO member states and observers， Eurasian Economic Union， international organizations and beyond in 2015 at the 7th summit， and with leaders of the member states of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation in 2016 following the 8th summit.

In 2017， during its chairmanship， China officially put forward the concept of BRICS Plus， and proposed to expand the partnership network to get more Global South countries involved. On the sidelines of the Xiamen summit， China hosted the Dialogue between Emerging Economies and Developing Countries. President Xi Jinping noted at the BRICS Johannesburg Summit in July 2018 that we need to explore BRICS Plus cooperation， deepen mutually-beneficial partnership， unleash new growth drivers， and foster a favorable external environment and a new-type of international relations. He also proposed to take BRICS Plus cooperation as an opportunity to build a partnership of openness， inclusiveness and win-win cooperation and a platform for South-South cooperation. The BRICS Plus model underscores the sharing nature of the mechanism， enhancing its capacity to gather synergy， increase vitality and create impetus across a wider scope. It has also laid a crucial foundation for the expansion towards more members of the Global South.

III. Action-Oriented Approach Highlights the Pragmatic Nature

Staying action-oriented， the effective and practical BRICS cooperation has delivered tangible benefits to all participants. It has established three pillars of practical cooperation， namely political and security cooperation， financial and economic cooperation， and cultural and people-to-people cooperation.

On political and security cooperation， BRICS members actively respond to the political demands of Global South countries， safeguard their interests in multilateral organizations like the UN， and call for their increased representation and voice. Amid ongoing crises like the Ukraine war and conflicts in the Middle East， BRICS members work alongside other Global South nations to promote ceasefire and peace dialogues， playing a positive role in easing tensions. They play an equally important role in addressing non-traditional security issues like counter-terrorism， cyber security and climate response. For instance， they have formulated the BRICS Counter-Terrorism Strategy and the BRICS Counter Terrorism Action Plan， and the BRICS Counter-Terrorism Working Group adopted its Position Paper.

With a host of practical measures， BRICS countries have also stepped up financial and economic cooperation. To enhance trade ties， policy documents like the BRICS Action Agenda on Economic and Trade Cooperation， the Outlines for BRICS Investment Facilitation， and the Strategy for BRICS Economic Partnership 2025 have been adopted. As a result， trade in goods among BRICS countries has grown by over 10% annually over the past decade， compared to a global average of only 3%. In terms of development finance and crisis relief， the New Development Bank and emergency reserve arrangements help meet Global South countries’ investment needs and mitigate financial risks. According to the New Development Bank， as of July 2024， its investment has reached $382.2 billion， with projects in such fields as transportation， energy， and water resource management. These projects have greatly advanced economic and social progress of the host countries. At the BRICS Kazan Summit， member states reached consensus on the further expansion of the Bank. BRICS countries have also achieved fruitful results in currency swap， local currency settlement and loan business， capital market， and international monetary and financial governance reform.

On cultural and people-to-people cooperation， BRICS nations have established high-level meetings across over a dozen domains including parliament， youth， culture， sports， tourism， women， and media. The Action Plan for the Implementation of the Agreement between the Governments of the BRICS States on Cooperation in the Field of Culture （2022-2026） identified measures to foster a cultural partnership of inclusiveness and mutual learning. With this solid progress and more， BRICS nations have set an example of exchanges and mutual learning among different civilizations.

Prospects of “Greater BRICS Cooperation” and the Global South

At the recently held Kazan Summit， Chinese President Xi Jinping underscored the importance of building BRICS into a primary channel for strengthening solidarity and cooperation among Global South nations and a vanguard for advancing global governance reform. His remarks set the course for the expansion and development of BRICS， and pave the way for more Global South nations to join the mechanism.

I. “Greater BRICS Cooperation” Raises the Global South’s Voice

Historically， the voice of the Global South in the world has been quite weak due to differences from within and disruptions by major powers. The outdated international mechanisms and rules have exacerbated this issue， particularly reflected in the IMF’s decision-making power distribution. According to the IMF， as of October 2024， emerging markets and developing countries hold only 40.8% voting power in the organization， though they account for 59.3% of global GDP in purchasing power terms. The quota and voting power reform of the IMF and the World Bank has been a hot topic for some years， but progress has been slow. Against this backdrop， seeking a greater say has become the common aspiration of the Global South.

In the wake of the Ukraine crisis， instead of blindly following the West， more and more developing countries express political views different from those of the West and take independent actions with greater political autonomy. At the same time， a larger number of countries seek to join the BRICS， or be part of BRICS Plus cooperation. “Greater BRICS Cooperation” meets the common aspiration of the Global South for a bigger voice on the global stage， and provides strong support towards that end.

II. “Greater BRICS Cooperation” Increases the International Influence of the Global South

With recent expansions， BRICS has grown in population and economic scale， which allows member states to better integrate resources and leverage comparative advantages at a broader scope. BRICS’ share of trade in goods after the latest round of expansion has increased to 25% of the global total. Through further integration， BRICS members can make their industrial and supply chains more resilient be it for low-end raw materials or for medium and high-end manufacturing. It is noteworthy that the new members’ strength in energy， mineral resources， agriculture， and food production can help optimize resource allocation， enhance economic and trade cooperation， and promote resource sharing and common prosperity among all member states.

In terms of innovation， the new members excel in different sectors， which contributes to BRICS’ overall technological strength and the BRICS Partnership on New Industrial Revolution. The World Intellectual Property Organization （WIPO） report shows that among the 133 countries and regions in the 2024 Global Innovation Index， China ranks 11th， topping the Global South countries. The United Arab Emirates， a new BRICS member， ranks 32nd thanks to its excellence in petrochemicals and aerospace. Scientech progress and cooperation can mobilize more factors and resources for innovation-driven development among BRICS members.

In terms of global governance， “Greater BRICS Cooperation” serves as a bridge for more Global South countries to participate in and even steer global governance. Since day one， the BRICS mechanism has taken it as its mission to promote South-South cooperation and improve global governance rather than merely focus on cooperation within the group. At the Kazan Summit， the member states expressed acknowledgement and support for the G20 Call to Action on Global Governance Reform launched by Brazil during its rotating presidency. Considering that the BRICS members are also members of the Global South， this initiative advocating for the interests of the Global South in global governance strives for “equitable governance” through “equitable BRICS”.

The new round of BRICS expansion brings market and investment opportunities that can help enterprises in member states expand markets and increase market shares. Through “Greater BRICS Cooperation”， the Global South can better shape the global economic agenda， steer future development， promote an equal and orderly multipolar world and a universally beneficial and inclusive economic globalization， advance global governance reform in a way that is beneficial to the Global South.

III. “Greater BRICS Cooperation” Advances Institutionalized Cooperation for the Global South

Institutional innovation is the underpinning and hallmark of BRICS. Over the years， a coordinated institutional framework that harmonizes the formal mechanism with the informal has taken shape. This framework combines the flexibility of the informal mechanism with the strong execution of the formal mechanism as well as the high-level nature of the summit and the supporting role of functional departments， thus providing a strong guarantee for cooperation in various fields. In addition， many Global South countries engage in BRICS cooperation through different forms of participation. On the one hand， the difference between BRICS membership and that of the New Development Bank ensures steady development of the BRICS cooperation mechanism. It allows more Global South countries to become formal members while ensuring smooth coordination within the group despite expansion. On the other hand， inviting different non-member states to BRICS Plus dialogues shows that the mechanism expands in a progressive manner， which allows the participation of a wider range of Global South countries and enlarges the pool of potential candidates.

After the Kazan Summit， the BRICS institutional framework has been further refined in a way that Global South countries can join the group as formal members or partner countries， or simply participate in BRICS Plus cooperation. In particular， the partner country mechanism that gives these countries some rights and obligations of formal members can properly balance scale and efficiency. Furthermore， with the participation of an increasing number of non-member states， BRICS can better play its role in strengthening solidarity and cooperation of the Global South. In this sense， “Greater BRICS Cooperation” signifies the Global South’s shift from a loose force on the world stage toward a more organized BRICS-centered institutional framework. It also shows that BRICS contributes to the modernization drive of the Global South and the vision of building a community with a shared future for mankind.

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Xu Xiujun is Research Fellow at the National Academy of Chinese Modernization， Chinese Academy of Social Science