^{Contributed by Joe Montero}

The 2024 BRICs summit took place in at Kazan in Russia last week and achieve quite a lot. One major achievement was that it demonstrated to the world the collapse of western hegemony and the rise of multipolarity. This is a new global order, where economics and politics are no longer under the control of one or two dominant powers.

This is not about a new imperialism rising to challenge the old. BRICS operates through consensus. The biggest members don’t have the last word. Nor is it aiming at destroying the United States led west. The mission is to remove the shackles of unequal western financial institutions like the International Monetary Fund (IMF), World Bank, and create a better environment for fairer investment and trade, sustainable development, and cooperation.

The theme for this year was “strengthen multilateralism for equitable global development and security.”

A big part of this is to ensure the ability to sidestep the United Sates controlled SWIFT payments system and the dominance of the American dollar as the medium of exchange, because it puts other nations at a disadvantage. Another big part is to get away from the increasing use of sanctions, often called economic warfare, to impose United Sates political will on other nations. A key principle of BRICS is opposition to meddling gin the internal affairs of others.

The alliance is currently 9 nations strong. It includes founders Brazil, Russia, India, China, and South Africa, plus the four other who joined last year, Iran, Egypt, Ethiopia, the United Arab Emirates. and Saudi Arabia yet to be confirmed. More than 30 others have said they want to join, and another layer are interested. Given the desire to minimise disruption to the global economy and political disruption, as well as preserving unity, the pace has been slowed. Altogether, 35 presidents and prime ministers participated. This is impressive.

^{Photo by Maxim Shemetov/AP: Chinese President Xi Jinping, left, and Russian President Vladimir Putin right speak}

Rather than a rapid growth n membership a slower approach through the creation of an Associate Member category was agreed to. This form of membership brings most of the advantages of full membership, although not a vote in the collective decision making.

BRICS has nevertheless already transformed into a formidable force. Agreement have been reached on fighting against terrorism for better global security, cybercrime, and reduced reliance on NATO and other western bodies by some nations. A key aim coming out of this year’s summit is to reform existing global bodies and enhance cooperation rather than control. A key example is reform of the United Nations by elevating the authority of all members and making it more democratic. UN Secretary-General, Antonio Guterres attended and made a positive contribution.

^{Photo from Fact News: United Nations General Secretary Antonio Guterres attended and spoke at the BRICs summit. He called it “a wonderful miracle of the world”}

Participants agreed on new cross-border financial practices and deepening economic ties. They agreed to adopt local currencies in trade and financial transactions, and on measures for protection against economic shocks on emerging and developing economies. Participants agreed on solving disputes between them through friendly dialogue, cooperation, and the fostering of mutual trust.

A significant focus was put on raising the “voice of the Global South,” by encouraging their collaboration and raising their concerns in global discussions. Emphasis was put on greater economic cooperation. A new grain exchange is to be created, which will improve food security by addressing food supply challenges. Agreement was reached on digital health and enhancing the use of traditional medicine to enhance healthcare systems, there was support for the establishment of a BRICS Research and Development Vaccine Centre providing equitable access to vaccines.

For the first time, the declaration of the summit included respect for the national sovereignty of nations in transport and infrastructure projects, championed cultural cooperation, and called for the inclusion of the African Union in the G20 group of nations. Recognition was given to the importance of recognising culture as a catalyst for achieving cooperation for sustainable development goals. BRICs already has the New Development Bank (NDB), to provide funds for major infrastructure projects, and the Contingent Reserve Arrangement (CRA), to provide a financial safety net for members in times of balance of payments crisis.

_{Photo from China Daily: The New Development Bank (NDB) headquarters in Shanghai}

Together, the existence of BRICS and the results of its 2024 summit will change the geopolitical landscape. This is a given. The question is how will western nations react? Will it be to act as spoiler to its own cost, or welcome the inevitable and positive change?