Leaders of the growing BRICS group of developing nations were set to gather in Rio de Janeiro on Sunday, calling for reform of traditional Western institutions while presenting the bloc as a defender of multilateralism in an increasingly fractured world.
With forums such as the G7 and G20 groups of major economies hamstrung by divisions and the disruptive “America First” approach of U.S. President Donald Trump, expansion of the BRICS has opened new space for diplomatic coordination.
“In the face of the resurgence of protectionism, it is up to emerging nations to defend the multilateral trade regime and reform the international financial architecture,” Brazilian President Luiz Inacio Lula da Silva told a BRICS business forum on Saturday.
BRICS nations now represent over half the world’s population and 40% of its economic output, Lula noted.
“The vacuum left by others ends up being filled almost instantly by the BRICS,” said a Brazilian diplomat who asked not to be named. Although the G7 still concentrates vast power, the source added, “it doesn’t have the predominance it once did.”
However, there are questions about the shared goals of an increasingly heterogenous BRICS group, which has grown to include regional rivals along with major emerging economies.
Stealing some thunder from this year’s summit, Chinese President Xi Jinping chose to send his prime minister in his place. Russian President Vladimir Putin
