Highlights:

  • ·       BRICS 2025 is meeting in Rio amid growing global uncertainty.

  • ·       The Chinese president is absent, sending his vice president.

  • ·       What does this mean? What are the most important issues that could be raised at this sensitive time?

Introduction:

At a pivotal moment in the history of the modern global economy, Brazil is hosting the 17th BRICS summit. This summit is likely to be exceptional, given the global economic developments and changes that are raising uncertainty.

This could represent an opportunity for this world's fastest-growing economic bloc to achieve many of the strategic goals its members have long sought.

From July 7 to 9, the Brazilian city of Rio de Janeiro will host the BRICS summit. The summit will be held in the absence of the Russian president and the Chinese president for the first time, sending his vice president in his place.

The summit will also feature a notable presence from the leaders of India and Brazil, along with new members. This could pave the way for a fundamental shift in the global balance of power.

BRICS Summit: From Ambition to Seizing Opportunities!

The roots of this economic group go back to 2001, when the term BRIC was coined to refer to Brazil, Russia, India, and China.

South Africa joined the group in 2010, officially renaming it "BRICS." Since its first meeting in Russia, the group has aimed to become an ambitious project to reshape the global economic balance of power through numerous ambitious projects, most notably the New Development Bank, which has financed approximately 120 projects worth an estimated $39 billion.

This project was considered a competitor to international institutions such as the World Bank and the International Monetary Fund.

In recent years, the BRICS group has begun to expand, including new members such as Egypt, Ethiopia, Indonesia, the UAE, and Iran, in addition to dozens of countries that have applied to join the group under the umbrella of "BRICS+."

The number of these countries has reached approximately 44, including Cuba, Malaysia, Uzbekistan, Morocco, Zimbabwe, Syria, and many other countries whose interest reflects the attractiveness of this large economic bloc.

The BRICS Summit 2025: Achieving Ambitions:

This seventeenth summit comes amidst largely uncertain economic and trade conditions, particularly considering US financial policies described as hostile by various parties, particularly with the comprehensive tariffs launched by US President Donald Trump on April 2, in what he called "Liberation Day."

Indeed, the summit's date ends one day before the expiration of Trump's tariff suspension period, a circumstance exploited by the group's leaders, who expressed their deep concern about US tariff measures, which they viewed as inconsistent with international trade laws.

Alongside this criticism of US tariffs are several issues that may be discussed, such as the climate threat, through their support for the Paris Climate Agreement, an agreement that Trump abandoned, in addition to the possibility of their calling for global governance of artificial intelligence to mitigate potential risks.

Some analysts believe that despite these potential criticisms, some countries may choose not to directly name Washington as a major party, to preserve the interests that some member states, such as China and India, are trying to maintain with the US.

BRICS 2025: A Moment to Reshape the Global Economy?

Despite the opportunities that may appear on the horizon and that the BRICS leaders could exploit, the prospect of doing so may not be favorable at the present time, especially since many of the countries gathered are seeking to resolve trade tensions with the United States.

However, this summit may strengthen future efforts in various areas where the various economies within this block can form an effective and cohesive force.

Global markets will closely monitor this, attempting to analyze the bloc's next strategic steps, particularly regarding the project for a unified alternative currency for its members.

Nevertheless, the numbers remain in BRICS' favor:

  • More than 40% of the world's population

  • More than a third of global economic growth

  • Control of 40% of global oil production

  • Monopoly of nearly 75% of rare earth resources

  • Annual trade exceeding $1 trillion

Ultimately, the Rio de Janeiro summit is not just a regular meeting, but a unique gathering that tests the future of international balances and reveals whether BRICS is merely a block of economic interests or the beginning of a new global era.

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