Towards a Future for Brics+

The BRICS+ countries include the original five members of Brazil, Russia, India, China, and South Africa, alongside the four new members Egypt, Ethiopia, Iran, and the United Arab Emirates, with Saudi Arabia also invited to join.The Global South both as a concept and the loosely defined collection of countries has gained increasing traction in public and policy discourse. BRICS+ countries may become precipitously important in economic, trade, and financial terms, as well as in the interplay of geopolitics and other multilateral institutions. Amid the growing role these powers play in the global food and energy supply chains, academics cannot avoid engaging with and reflecting upon the past, present, and future of the BRICS+ countries. This compendium draws upon scholars across numerous continents, spheres, and disciplines, examining the future of BRICS+ in a rigorous and evidence-informed manner to provide a robust and accurate assessment of both the strengths and weaknesses of BRICS+.While the energy, financial, and supply chain complementarities between its original five members are comparatively evident, with the entry of four new countries, questions have inevitably arisen over the tenability and coherence of the grouping, as well as the extent to which internal rifts and divergences can be managed. Many non-BRICS+ nations and observers remain cautious of the viability and desirability of BRICS+ as a force that could counterbalance the conventionally defined G7 countries. Though the significance of the BRICS+ as a geopolitical force remains to be fully seen, understanding BRICS+ would prove vital for policymakers and businesses across the world.

Heiwai Tang is Victor and William Fung Professor in Economics and Director of the Asia Global Institute, HKU.Brian Wong Yue Shun is assistant professor at the Department of Philosophy, HKU.