Is BRICS a rising global superpower or just a collection of symbolic gestures?

Countries & Cities · Published 29 September 2026 Swipe more like this →

In short: Born from a Goldman Sachs investment concept, BRICS has evolved into a sprawling, ten-member bloc representing nearly half the world's population. While it promotes a multipolar alternative to Western-led institutions, critics argue the group lacks true cohesion, functioning more as a platform for rhetoric than a unified political force.

The origins of BRICS trace back to 1998, when Russian Foreign Minister Yevgeny Primakov proposed a multipolar diplomatic group. In 2001, British economist Jim O'Neill coined the acronym BRIC to identify emerging markets for investment. By 2009, the founding nations—Brazil, Russia, India, and China—held their first formal summit in Yekaterinburg. South Africa joined in 2010, and in 2024, the bloc expanded to include Egypt, Ethiopia, Iran, and the United Arab Emirates. Indonesia officially became the tenth member in early 2025.

The group has established significant financial infrastructure, including the New Development Bank and the BRICS Contingent Reserve Arrangement, aimed at fostering cooperation outside Western-dominated systems. Members have also promoted de-dollarization, seeking to increase trade settlements in national currencies. Despite these efforts, the bloc's internal dynamics remain complex. Saudi Arabia, for instance, maintains an ambiguous status; while official BRICS sources list it as a member, the kingdom has provided inconsistent statements regarding its formal acceptance of the invitation.

Today, BRICS+ accounts for roughly 35.6% of global GDP at purchasing power parity and nearly 30% of global oil production. However, the group faces significant internal and external skepticism. O'Neill, the man who originally coined the term, now views the project as a failure, arguing it has proven incapable of uniting as a meaningful global force. While some see it as a vital counterweight to the G7, others dismiss it as an incoherent affiliation of disparate countries, noting that even its own members have recently agreed to proceed cautiously regarding further expansion.

Beyond economics, the bloc maintains an extensive network of think tanks and councils, covering over 30 subjects ranging from space exploration to digital ecosystems. Yet, the challenge of reconciling the diverse objectives of its members persists. As the group navigates its role in a changing international order, it continues to balance ambitious institutional goals with the practical realities of geopolitical friction and internal disagreement.

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