Regardless of whether the BRICS – Brazil, Russia, India, China and South Africa – will hold together as one grouping or not, it is an undeniable fact that this group constitutes some of, if not the fastest growing emerging markets in the world.
As to whether their recent fourth annual summit held in New Delhi can or may be considered to have been a success or failure remains a side issue.
Given their own inbuilt dynamism and differentiated rate of economic growth, it was to be expected that they wound find a bumpy road in their pursuit of a comprehensive long-term agenda, particularly given their own internal differences.
Some tend to dismiss the whole concept by claiming that the BRICS are not a group at all, but the invention of a Goldman Sachs front man some 11 years ago with South Africa added to the list a year or so ago.
Notwithstanding the fact that we happen to be living in an interdependent world, it is also to be expected that intra-group rivalries would also result and exist.
But at day’s end, what matters is that without posing a threat in any way, they have heralded the advent of a wakeup call for the so-called developed world. Mainly in the sense that the existing dominating powers are now beginning to smell the coffee and realize that whether they like it or not they will have to cede some of their influence and power, even though we might continue arguing and disagreeing on the nature, magnitude and extent.
Just because a number of BRICS countries tend to complain about Western protectionism should not, in my opinion, be perceived as an anti-American stance as some have brusquely dismissed them.
It is equally over simplistic and naïve for certain armchair critics with a not so hidden agenda to moan and groan that the BRICS are not a grouping of natural fellows since they happen to be very different politically as well as in terms of their development potential and economic fundamentals.
As I see it, even if these countries have different values and political orientation, they all happen to be important countries with growing clout and economic/political muscle in a manner that should be taken seriously.
Whether they might be pursuing the birth of a new world order is in itself a subject for discussion, but that they see themselves as rising powers is a given.
What I find intriguing is that in the case of South Africa, Brazil and India, we also happen to be talking of countries with vibrant even if, albeit, complicated democracies.
One sticky issue that seems to have bound them together recent is that in their majority – mainly Russia, China and India – all seem very reluctant to support increasingly powerful sanctions or military action against Iran.
For some Iran might be just an important neighbour, while for others it is also a major supplier of oil.
Given that some of the BRICS are net importers of energy, any oil price spikes are bound to dent their own economies badly.
On the other hand we also have BRICS countries that may happen to be major net exporters of fossil fuel.
Among the challenges they are already facing is the issue of governance, as well as to what extent they can manage to sustain their own development process and the rate of growth that they can handle or cope with.
In the coming months, they will no doubt be increasingly seeking financial tools to improve trade opportunities.
In terms of rivalry, this is expected most between India and China. Not only because they happen to be the world’s two most populous nations but also due to the constant source of friction that has always existed between them even since pre BRICS days.
Apart from the different political and economic systems between the BRICS member states, one cannot dismiss too lightly the vast distances between the members of this grouping, which defies the mere notion of regionality.
Many are inclined to ignore other aspects of the intra-BRICS relationship, such as the West’s stand on Afghanistan, as well as sensitive issues like climate change.
But, in the final analysis, I believe that what could bog down, or rather, slow down the whole process is far removed from geo politics.
It has much more to do with the domestic problems that the individual member states might be and could be facing in the coming years.
On the other hand, dismissing BRICS summits as mere photo-ops and talking shops would be both naïve and counterproductive.
In terms of demographics and economics, whatever we might think of the BRICS we have here almost half the world’s population and about one fifth of the global economic output.
Regardless of the grandiose vision that many might consider them to project and aspire to, I think that Malta as an EU member state should be looking in a far more focused manner in the direction of this grouping. Particularly since so far it has so little to show in terms of deliverables on a purely bilateral basis with a number of these countries. Including those with whom we have had long standing relations that go back many decades.
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www.leobrincat.com
Mr Brincat is a Member of the House Committee on Foreign
& European Affairs