The group called BRICS, which originally consisted of Brazil, Russia, India and China, and was later joined by the Republic of South Africa, has just been strengthened by the admission of six new members, and there is a list of countries that want to participate. This is a challenge to the unipolar world dominated by the United States since the collapse of the Soviet Union.

Which countries make up the BRICS group?

Ecuador must appreciate this fact in order not to interfere in the struggle of giants who want a multipolar world. The Ministry of Foreign Affairs, its career officials, will monitor the development of these events; I am not referring to the chancellor who is a stranger to international politics. Officials of the Ministry of Foreign Trade will also be watching because our exports go to both blocs.

With the expansion, which will take effect from January next year, BRICS will represent a slightly larger share of the production of the seven richest G7 countries in terms of purchasing power; and its exports, now bolstered by oil and gas exports due to the accession of Saudi Arabia, the United Arab Emirates, Iran, which will add to Russia’s exports, making them the largest exporters of these vital commodities. As for hydrocarbons, Saudi Arabia and China trade in their own currencies, regardless of the dollar.

Dedollarization and BRICS

The BRICS meeting in the Republic of South Africa was also attended by UN Secretary General António Guterres, who referred to the need to reform the legal system of the United Nations. This institution was founded in San Francisco, shortly before the end of the Second World War, on June 26, 1945, and the five victorious powers reserved to each individual the right of veto on the resolutions of the supreme body, the Security Council. The two highest economic organizations were also created: the World Bank, chaired by the United States of America, and the International Monetary Fund (IMF), chaired by Europe. Since then, the economic capacities of countries have varied greatly; That is why there is disagreement, because the other powers, including the second most important China, have only 15 percent of the voting rights in the IMF. In order to stop depending on these organizations, BRICS created the New Development Bank (NDB) and the Contingent Reserve Fund.

There are other factors as well, such as population, the largest of which, India, is consolidating its position as the third largest economy.

Several members of BRICS, both original and expansion, are not adversaries of the United States. India maintains a very cordial relationship with them; Likewise Saudi Arabia and the United Arab Emirates. The case of Iran is special.

In short, by looking for a balance of power – which has been the basis of international relations for centuries – a new world order is sought to be established. It is also related, fundamentally, to military power: very close to the United States is Russia, followed by China and India. This essay tries to locate new world realities. (OR)