Building resilience, Pg8

Context:

• The 17th BRICS Summit in Rio marked the first full participation of newly inducted members amidst global turbulence, including the U.S.-Israel-Iran conflict, Gaza escalation, and tensions with the G7. 

Key Highlights:

• First BRICS summit with new members: Egypt, Ethiopia, UAE, Iran, and Indonesia (Saudi Arabia yet to join).
• Rio declaration condemned Israel’s attacks on Gaza and U.S.-led strikes on Iran’s nuclear facilities.
• India condemned the Pahalgam terror attack and references to terror financing.
• Brazil and India obtained group support for greater roles in the UN, including the Security Council.
• Non-P5 countries shaped agenda in absence of China and Russia’s presidents.
• Focused resolutions passed on energy security, WTO reforms, and climate action.
• Reaffirmed resistance to U.S. unilateralism and tariff threats from President Trump.

Detailed Insights:

• The summit occurred amid growing geopolitical fragmentation, particularly between the West and Global South.
• BRICS’ internal differences—e.g., over UN Security Council reform—had earlier stalled a joint statement in April, raising concerns over cohesion.
• India clarified its position against de-dollarisation, yet Brazil and others continue pushing for alternative trade mechanisms challenging dollar dominance.
• President Lula’s statement that the world “doesn’t need an emperor” targeted U.S. hegemony, further straining ties.
• The Rio declaration represents a strategic consensus against Western unilateral actions, especially in conflict zones like Gaza and Iran.
• The summit allowed non-permanent UN Security Council members within BRICS to assert leadership in shaping a Global South agenda.
• The term BRICS was redefined by PM Modi as “Building Resilience and Innovation for Cooperation and Sustainability”, indicating a development-centric, multipolar vision.

Key Concepts Involved:

• De-dollarisation: The process of reducing reliance on the U.S. dollar in international trade and finance.
• WTO Reforms: Efforts aimed at restructuring the World Trade Organization to better represent emerging economies and address issues like dispute resolution and subsidies.
• Energy Security: Ensuring stable, affordable, and sustainable access to energy resources, particularly critical for developing economies.

Mains Mock Question:

Q. The 17th BRICS Summit highlighted both the potential and internal contradictions of the bloc in reshaping global governance. Critically evaluate the cohesion within BRICS and its role in representing the Global South.