Thursday, March 14, 2019
Future of BRICS: BRAXIT or ‘Power Next’?
The club of emerging political and economic powers of Brazil, Russia, India, China, and South Africa in response to new global challenges is famously known as BRICS. Since its inception in 2006, it has been a platform to highlight the prominence of multi-polar world order challenging the collision of G-7 members. These five countries account for 20 percent of world GDP and 40% of the world population
Russian Deputy Foreign Minister Sergey Ryabkov discussed with Brazilian Foreign Ministry senior officials the development of bilateral relations along with the situation in the region, the Russian Foreign Ministry said in a statement
Multi-polarization and globalization remain the broader trend across the world, although the international community seems to be returning to the era of great-power competition. As the main forces behind the building of a new world order by promoting multi-polarization, China, Russia and India should strengthen their cooperation mechanism, deepen collaboration and clarify their respective priorities at different stages of cooperation through regular meetings among their foreign ministers