MA XUEJING/CHINA DAILY
Under the leadership of a strong Global South, we will see the emergence of a multipolar world where all nations are equal and wars are free.
The Global South should now be called the „Global Majority” to do justice to its socio-economic, geopolitical and civilizational impact on the shape of things to come in this world. The Global South is now coalescing around the growing power of BRICS Plus to remake the world on the model of a multilateral, just, egalitarian and democratic New World Order.
The integration and expansion of BRICS Plus in January has boosted the gravity of the economic and geopolitical alliance of large developing countries from representative regions of the world, as it overtakes the developed countries of the G7 in economic and resource capacity.
With the entry of Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates in January from North Africa and the Middle East, the BRICS bloc now represents more than 45 percent of the world's population and controls 45 percent of the world's power. Oil production accounts for a larger share (almost 36 percent) of global GDP than the G7 countries (less than 30 percent).
Equally impressive are the achievements in economic exchange among the member states of the original bloc, which are growing with new members. Among the group's original five members, trade will rise 56 percent to $422 billion between 2017 and 2022, while BRICS-advised trade in local currency among these countries has significantly reduced transaction costs.
BRICS is also leading the global debate on the „de-dollarization” of the global financial and economic system and the creation of a digital currency and blockchain payment system. The last vestiges of a unipolar world and the era of Western colonialism are irretrievably severed to ensure equitable global trade, financial transactions and international trade relations.
A notable BRICS milestone was the establishment of the BRICS Bank, which has disbursed loans worth $33 billion to date to a total of 98 projects in its five institutional-member countries. This loan portfolio is targeted for even more dramatic growth with its five new members and more than 30 other countries keen to be part of the group in the future.
Although BRICS operates primarily as an economic bloc, it recently took a welcome step in response to the humanitarian crisis erupting in the Gaza Strip. At a virtual summit chaired by South Africa, the BRICS group called for an end to Israel's military campaign in Gaza.
Interest in BRICS was first shown in 2023 by South Africa, the BRICS Chair. Later, 2024 President Russia reaffirmed it. In the words of President Vladimir Putin, „While the association preserves and guides traditions through the experience gained over the past years, we spare no effort to ensure the harmonious integration of new participants into all forms of its activities.”
BRICS' rotating leadership reflects the group's democratic spirit, based on shared values of openness, cooperation and unity, all of which underpin its envisioned multipolar world. The existence of BRICS and its dramatic growth prove that these values are working, so the interest of countries to participate in this new, visionary project to advance the majority of the world and humanity in general is increasing.
In line with its traditional role in supporting the economic growth momentum of the Global South, China is a key inspiration and driving force behind the BRICS. I am constantly reminded of the Tanzania-Zambia railway, an inspiring project launched in the 1970s that would jump-start Africa's development even as China itself rose from poverty.
Today, China is connecting the entire world with its Belt and Road Initiative, connecting Eurasia with Africa, the world through land, power and digital communication corridors, and maritime countries through the Maritime Silk Road. As the global majority takes the initiative in this new era, BRICS and BRI cooperation should be established to tighten BRICS unity and economic security.
Elements of the unipolar era continue to seek the defeat of the global majority, fueling conflicts and tensions around the world and trying to divide developing countries. A sad example is the Philippines, a country I belong to, that is being used as a proxy for fueling conflict between countries in Asia. Fortunately, the Association of Southeast Asian Nations remains decidedly independent, and some are considering an alliance with the BRICS.
There will be bumps in the road to realizing the ultimate vision of the Global Majority and BRICS, but the future is certain: a multilateral world where all countries are equal and the „forever wars” of the unipolar moment will forever be replaced by „forever peace and prosperity” under the leadership of the Global Majority also known as the Global South of a regenerated world order. . As the global majority speaks and moves, so now the world moves with it.
The author is the founder of the Asian Century Philippine Institute of Strategic Studies. The author contributed this article to China Watch, a think tank run by China Daily.
Contact the editor at [email protected].