As of August 2023, the BRICS nations have announced that Saudi Arabia, Iran, Ethiopia, Egypt, Argentina, and the United Arab Emirates have become member states. Western economists and world leaders have raised concerns with this coalition challenging the modern world economy. However, since its inception in 2009, BRICS efficacy has been limited at best. This begs the question: Will BRICS be successful in overturning the West’s Economic Order?

Before answering the core question one must explore the very foundations of BRICS. BRICS is an economic coalition of Brazil, Russia, India, China, and South Africa along with the new member states that are unified under their deep grievances with the American-dominated world economy. Specifically, the lack of integration of emerging economies into the global financial system as well as the global economy’s reliance on the dollar posed the greatest qualm for BRICS. The ultimate stated goal is creating a global economic order unadulterated by the political and economic hegemony of the West. High school senior Kaylyn Kim understands BRICS objects to be noble saying, “I think using USD as the global currency is a bit too much. It doesn’t account for many factors and [needs to] be adjusted based on Less Developed Countries.”

BRICS has implemented elementary steps in actualizing its goals. Notably, the member states have created their own development bank, have established a reserve, and have started to utilize their own currencies - as opposed to the US Dollar - in international trade. Yet, the BRICS countries have failed to make a significant impact in shifting the world economy away from the West’s financial structures.

Given all this, I believe BRICS will not notably shape the global financial system for one main reason: geopolitical hindrances. Already, BRICS member states have found themselves and their economies in mud due to geopolitical struggles. Russia instantly delegitimize itself on the global stage when it waged its unwarranted attack against Ukraine, and in the process lost political and economic leverage. China and India are constantly disputing over borders, trade, and military alignments. South Africa, itself has experienced consistent civil unrest. All of this suggests that the BRICS member states have their hands full and it would be an almost impossible endeavor to actuate a shift in the global economic system with such entrenched social-geopolitical complications. Yuna Shin, a 12th-grade student at Yorba Linda High School, also expressed doubt over BRICS efficacy, “I don’t think USD can be uprooted as one of the main international currencies.”

Moreover, BRICS is taking the wrong steps in attempting to manifest its goals. The inclusion of Saudi Arabia and the UAE, as oil states, will allow BRICS to shift away from the hegemonic oil arrangements of the West. However, more than that, the admission of more members into BRICS does little to expand the organization’s leverage.

<Joseph Kim Cypress HS 12th Grade>