On November 15, 2023, Gong Jiong, a China Forum expert and vice president for research at UIBE Israel, published an article titled “The Rise of BRICS” on the website of the Valdai Discussion Club, sharing his analysis of existing global governance problems as well as the history and future of the BRICS.

The problems in the current global governance system – which is unfair, unbalanced and unrepresentative – date back to the era of European colonialism, wrote Gong. The architects of that system preached a rules-based order, while choosing to use or abandon the rules as they saw fit. The Global South remains a victim of colonialism as it stays marginalized in a global system that is fundamentally at odds with its economic and political interests.

Gong called on Western leaders to view the BRICS not through a competing lens, but as an equal partner that deserves their respect and understanding. According to him, the BRICS can grow in four ways. First, it should maintain economic development and support infrastructure financing. Second, it could continue to empower the Belt and Road Initiative and infrastructure connectivity among countries. Third, it needs to promote trade and investment flows within the bloc and with the Global South. Fourth, it should improve trade currencies, currency transfers and settlement mechanisms to avoid abuse of power.

The Valdai Discussion Club is a Moscow-based think tank established in 2004 that serves as an important platform for the international community to understand Russia’s policies.

Read the article in English: https://valdaiclub.com/a/highlights/the-rise-of-brics/

in Russian: https://ru.valdaiclub.com/a/highlights/kogda-nastupaet-novyy-miroporyadok/