However, the western state community should “not panic” over the expansion of the Brics, said the economist. The expansion will have little impact on individual Western ties with important democratic trading partners such as Brazil, India and South Africa, Paqué said.
“Testimony that the world is governing itself”
For Caroline Kanter, co-head of the European and International Cooperation department at the Konrad Adenauer Foundation, the expansion is “testimony that the world is being reorganized and a large number of countries do not want to submit to systemic conflict”. Germany and Europe must now draw conclusions on their international actions and explore how a pragmatic approach can be taken. “It is clear that we are no longer in a position to set our conditions and standards. We are expected to make an offer to be considered an attractive partner going forward,” said Kanter.
According to Russian President Vladimir Putin, expanding the alliance is “not easy”. However, as host of the 15th summit, Ramaphosa demonstrated the “excellent diplomatic art” to reconcile all positions, praised Putin, who was linked via video from Moscow on Thursday. He himself did not come to the top because, according to an arrest warrant from the International Criminal Court in The Hague, he was threatened with arrest in South Africa for war crimes in Ukraine.
Other countries are also interested
Indian Prime Minister Narendra Modi, who has so far criticized “Brics Plus” due to strained relations between India and China, both of which are vying for influence in their region, welcomed the expansion of the alliance.
In addition to the six new entries, many other states will soon join “Brics plus”. According to South African Foreign Minister Naledi Pandor, some 40 countries have expressed interest in becoming members, 23 of which are real. These include Algeria, Kuwait, Bangladesh, Venezuela and Thailand.
The aim of the confederation of countries is to form a counterbalance to Western dominance and other forums of economically powerful nations such as the G7. The Brics also want to reduce their dependence on the US dollar as a global reserve currency. A working group consisting of finance minister Brics and central bank governors will consider the extent to which the alliance can use local currencies, alternative financial arrangements and alternative payment systems before the next summit in Russia, Ramaphosa said.
UN Secretary General António Guterres, who traveled to Johannesburg for the summit, also spoke out in favor of reforming multilateral institutions. Guterres said it was critical to redesign an outdated, dysfunctional and unfair global financial architecture. The present world economic order “reflects the world of the past”.
