LET me hasten to borrow from Harold Macmillan’s seminal 1960 speech: “The wind of change is blowing.” The difference is, unlike the 1960s, the “wind of change” is not blowing only in Africa seeking socio-economic and political emancipation. No.
The wind of change is blowing out of South Africa’s Sandton Convention Centre, sweeping through Mother Africa and the entire Global South and leaving the masters of the abominable unipolar world order in the Global North in awe and wonder.
The BRICS bloc is finally shaking the foundations of an unjust international world order that has sought to keep the developing nations as hewers of wood and drawers of water.
The US-led Western hegemony of the global order has never been challenged so ferociously. The derogatory reference, “The little yellow man will one day rule the world”, has quietly resulted in the Chinese people rebuilding their vast nation into the world’s biggest developing economy, and a superpower of note.
In spite of the end of the Cold War and the fall of the Soviet Union at the turn of the 1990s, Russia has retained the superpower status as a nuclear power, India has risen triumphantly from the subjugation of imperialism and colonialism, Brazil continues to lead the renaissance and repositioning of Latin America and South Africa is commendably leading sub-Saharan Africa by example.
That, in a nutshell, is the nucleus of the explosion tearing up the once-mighty Western dominance.
To their great credit, Brazil, Russia, India, China and South Africa (BRICS) have withstood tremendous Western pressure through a protracted campaign to dislodge their mission of economic co-operation and geopolitical reboot.
BRICS is “an equal partnership of countries that have differing views but have a shared vision for a better world”.
And now, 15 years later, the BRICS bloc has matured markedly. At their 15th summit this week, BRICS underlined before the watching world audience keen to bear witness, a new beginning.
It is the beginning of the end for the Western-dominated, unipolar world order that has brutally kept the entire Global South on a leash since the end of World War II in 1945.
As the Civil Rights Movement led by the likes of Stokely Carmichael (Kwame Toure) would say, “Change is coming”. Nay, change has come. We can smell freedom at last!
The resolution by BRICS to expand its membership is a thing of beauty, a master stroke. Many activists have campaigned for the strategic expansion of the bloc, arguing that “the more the merrier”.
But, truth be told, to expand the bloc by a whopping six new members was unforeseen.
Put together, the six new members will undoubtedly add enormous value to the significant role that BRICS plays in global affairs. Argentina, Ethiopia, Egypt, Iran, the UAE and Saudi Arabia are serious regional powers that will certainly add value.
More than 20 countries had applied to join BRICS. As the first batch moves in, surely there will still be plenty waiting their turn at the door. The future looks oh so bright for BRICS.
Collectively, the BRICS bloc has moved the total global population representation for BRICS to nearly half the world’s population. Amazing Indeed.
There can be no greater legitimacy to flaunt than the raw data. Numbers don’t lie. BRICS is a power to be reckoned with.
Rightfully, the voice of the bloc should soon grow louder at the high table of the nations of the world, without being intimidated, or threatened with sanctions or military attack. I never thought I’d live to witness this time.
It is a true epoch in our lives. It is a great interval in history when five nations led the dawn of elusive freedom. We can say it out loud, finally: better late than never.
“Through this summit, BRICS has embarked on a new chapter in its effort to build a world that is fair, a world that is just, a world that is also inclusive and prosperous,” President Cyril Ramaphosa said.
Among the stand-out achievements of BRICS so far, of course, is the establishment of the New Development Bank, better known as the BRICS Bank. It is led by former Brazilian president Dilma Rousseff.
Already, the BRICS Bank has exhibited its revolutionary credentials – conducting its business strictly in local currencies when dealing with the BRICS member states. This departure from the use of the US dollar is a bold declaration of intent.
“We have noted that there is a global momentum for the use of local currencies, alternative financial arrangements and alternative payment systems,” President Ramaphosa said, before adding: “As BRICS, we are ready to explore opportunities for improving the stability, reliability and fairness of the global financial architecture.”
Reliance and dependence on the US-led World Bank and the International Monetary Fund (IMF) is fast becoming a thing of the past. The non-negotiable neo-liberal terms set by the two domineering global financial institutions on poorer nations has been a hard pill to swallow.
The two banks had been used to affect the ideological direction of nations, against their will. In the worst-case scenarios, the two lenders had surreptitiously got entangled in regime change activities that have led to major instability in many developing countries.
The advent of the BRICS Bank thus ushers in a new dawn of hope and optimism. The BRICS Bank has thus far played a crucial role in the funding of infrastructure project programmes.
In South Africa alone, President Ramaphosa announced that BRICS Bank had assisted with more than $100 million.
As the bank is funded by member states, the acceptance of the six new members of the bloc bodes well.
The three Middle Eastern and Gulf giants are the world’s leading oil producers with enormous wealth that will surely come in handy for the BRICS Bank.
President Ramaphosa revealed: “The summit agreed to task the BRICS finance ministers and/or central bank governors, as appropriate, to consider the issue of local currencies, payment instruments and platforms and report back to the BRICS leaders by the next summit.”
The next summit will be held in Russia next year.
Speaking at the end of the three-day summit, President Ramaphosa, in his capacity as the occupant of the rotational chair, elaborated: “We shared our vision of BRICS as a champion of the needs and concerns of the peoples of the Global South. These include the need for beneficial economic growth, sustainable development and reform of multilateral systems.”
The reforms are vital and urgent. BRICS should serve as an agency for changing the obsolete systems that are skewed against Africa and the rest of the Global South.
For far too long, the abuse of the world’s multilateral institutions by the powerful nations of the Global North has taken place with impunity.
The habit and penchant for unilateral imposition of economic sanctions against geopolitical opponents, and threatening the weaker nations into toeing the line or facing the wrath of their wealthier counterparts, has served as a frightening axe wielded by unscrupulous hands.
President Ramaphosa stressed: “We reiterate our commitment to inclusive multilateralism and upholding international law, including the purposes and principles enshrined in the United Nations Charter.”
The UN has gradually lost its legitimacy over the growing unipolar world order led by the US. The weaponisation of the US dollar in geopolitics has also left much to be desired.
Washington’s unilateral sanctions against Cuba and the 60-year-old blockade of the island by the US military have meant that Cubans have had to endure hardships.
This is the 15th year since the US has imposed unilateral sanctions against Venezuela, accusing the socialist state of wrongdoing while working with opposition figures to topple the government of President Nicolas Maduro.
Although the US’s unilateral sanctions clearly undermine the fundamental being, authority and relevance of the UN, they were thrust under sharp focus after they were unleashed against Russia in the wake of the conflict in Ukraine.
The weaponisation of the dollar became a lot clearer, sending fear and trepidation across the Global South. Hence the Russia-led de-dollarisation process that has gained traction within BRICS and elsewhere in the Global South.
Although BRICS has been around for a while, it can be argued that it came of age at the Johannesburg summit. Never has any organisation blatantly challenged the dominance of the US-led unipolar world order without any fear of reprisals.
On the strength of the evidence before our eyes, BRICS is the future, a bright future.