Is BRICS a Threat to the Western World?
(From left to right) President of Brazil Lula da Silva, President of China Xi Jinping, President of South Africa Cyril Ramaphosa, Prime Minister of India Narendra Modi, and Minister of Foreign Affairs of Russia Sergey Lavrov attend the BRICS Summit in Johannesburg, South Africa
Credit: 15th BRICS Summit / Wikimedia Commons
BRICS—originally composed of Brazil, Russia, India, People’s Republic of China, and South Africa—is an intergovernmental bloc with one key mission: weaken the Western world. Since its formation in 2009, BRICS has expanded past its initial five members, growing to include Egypt, Ethiopia, Iran, the United Arab Emirates, and most recently, Indonesia.
Though all BRICS member countries are classified as developing economies, the potential of their combined economic influence is undeniable. These ten member countries account for a quarter of the global economy and nearly half of the world’s population. Ultimately, BRICS has two main objectives—reducing reliance on the United States dollar and challenging Western hegemony and the US-dominated global order. Despite their collective power, political analysts have come to varying conclusions on the extent to which BRICS poses a true threat against the West.
On the issue of the US dollar, BRICS countries are becoming increasingly frustrated with its domination. BRICS countries are highly vulnerable to US sanctions. For example, in attempts to support Ukraine, the Biden administration has been issuing sanctions on Russia to degrade its energy industry. The administration issued its most aggressive sanctions in early 2025, with AP News reporting that they have the potential to cost Russia’s economy billions of dollars per month. Thus, BRICS leaders have discussed a “de-dollarization” of the global economy. In a 2022 study conducted by professors at Tufts University, they concluded that the ubiquity of the US dollar in our global systems makes it unlikely that any system will replace it in the coming years. However, they also find that BRICS is on its way to present as a serious adversary to this system through their larger strategy, growing member size, and “incremental policy initiatives.” Most recently, BRICS nations have attempted to raise global use of the renminbi, the official currency of China, by solely using the renminbi for all Chinese cross-border transactions. Additionally, discussions of the creation of a BRICS-wide currency have continued at BRICS’ most recent summit in Kazan, Russia last October. Unsurprisingly, these efforts have been championed by Russia and Iran, the two BRICS countries currently under US sanctions, due to the war in Ukraine and nuclear development, respectively. However, analysts argue that the potential of a BRICS currency would take years to achieve, be very difficult to stabilize due to the unlikelihood of a BRICS central bank, and face issues of countries actually adopting and using the currency.
On the issue of Western hegemony, BRICS countries are positioning themselves as a counterbalance—challenging the dominance of the current world order. BRICS believes that the current most influential international organizations, including institutions like the World Bank, the International Monetary Fund, and the UN Security Council, cater too closely to the needs of developed countries and the G7. As an example, BRICS has established its own financial institutions, most notably the New Development Bank (NDB), essentially functioning as the World Bank of the BRICS countries. Yet, A decade later, analysts do not see the NDB as a serious competitor to the World Bank, mainly because it is one-fifth of the size of the World Bank. However, according to a study conducted by South African Universities last year, the NDB has played a key role in the recent growth of BRICS nations. Functioning similarly to the World Bank, the NDB provides funding for infrastructure and development projects across BRICS countries. Through specializing in the unique challenges of the developing economies of BRICS, the NDB is more effective in addressing the specific development needs of each country.
The bloc continues to see an increase in the number of countries joining. For example, BRICS’s most recent addition, Indonesia, is working to position itself as a central force in both South East Asia and the international stage. There is a consensus among developing nations that their needs are not being met to the same extent as their developed counterparts through organizations like the UN and the World Bank. This gap is the biggest driver of BRICS participation.
Ultimately, the steady yet consistent growth of BRICS’ influence, coupled with the growing strength of its institutions, makes it a likely adversary to the dominance of Western-led organizations in shaping future global governance. Through leveraging their collective economic power, BRICS countries are building the infrastructure of a parallel power structure that has the potential to rival Western institutions.