The BRICS 2025 Summit, held amid deepening fractures in the global order, has marked a significant turning point in the grouping’s evolution. Originally formed in 2009 as a bloc of five emerging economies—Brazil, Russia, India, China, and South Africa—BRICS has sought to represent the voice of the Global South in global economic governance. In 2025, the grouping formally expanded by admitting several new members, including key energy producers, regional powers, and developing economies, thereby broadening its geopolitical reach and economic weight. This enlargement reflects BRICS’ growing ambition to counterbalance Western-dominated institutions like the IMF and World Bank, while offering an alternative platform for economic cooperation, development financing, and political dialogue. One of the most debated outcomes of the summit has been the push for trade in local currencies and the development of a BRICS cross-border payment system, aimed at reducing dependence on the US dollar. Thi...
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