Peter T. C. Chang

Opinion | As Brics leads Global South in open engagement, US has much to learn

As US-China rivalry hinders our ability to deal with crises, Brics is using open engagement to help create a more equitable international order

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Peter T. C. Chang

Published: 5:30am, 28 Oct 2024Updated: 7:27am, 28 Oct 2024

The emergence of Brics – a bloc of developing economies named after early members Brazil, Russia, India, China and South Africa – reflects the Global South’s aspiration for a more inclusive and equitable world order. Rather than hinder this effort, the Global North should emulate the Global South policy of open engagement.

At stake is not just the creation of a fairer economic system but also our collective ability to address urgent global challenges such as climate change, pandemics and the risks posed by artificial intelligence (AI).

The Kazan declaration adopted at the 16th Brics summit advocates the reforming of the international financial architecture to be more open and just. This, coupled with the call for an alternative cross-border payment mechanism and the use of local currencies, has added to the perception of Brics as a movement aimed at addressing long-standing Global South concerns over the perceived inequities of the Western-centric economic system.

Unsurprisingly, the United States views Brics as a challenge to its dominance. As more developing nations like Malaysia express interest in joining the China-led bloc, they risk being perceived as aligning themselves in the great power rivalry.

But countries in the Global South deny they are taking sides. While critical of the Western-led order, these emerging economies remain committed to open trade. Malaysia, for example, welcomes investments from both the West and China.

The refusal to choose sides underscores the Global South’s disagreement with the US’ portrayal of a battle between democracies and authoritarianism. Instead, developing countries see the global challenges as a non-ideological struggle for a more equitable international order, with the solution lying in open engagement.