Post-9/11 studies on multilateralism pay increasing attention to Brazil, Russia, India, China and South Africa (BRICS) as an emerging alternative to global governance, peace, and security. Consequently, BRICS poses an enormous challenge to international security and governance architecture. This chapter assesses the role of BRICS as an emerging alternative to global governance, peace and security within the ‘Thucydides trap. This is a perilous situation when a rising power threatens systemic shifts in the balance of power by challenging or displacing an existing hegemony’s power. There is an emphasis on a BRICS revisionist approach to global affairs as a critical variable. This is based on the observation that the post-World War 2 international order created by the United States of America and the Bretton Woods Institutions has fractured the socio-economic and political correlation of forces necessitating a stable global set-up. Therefore, the chapter argues that BRICS’ deployment of hard tools of soft power (global health diplomacy, foreign aid, economic trade, and cultural diplomacy) proffer new interpretations of multilateralism beyond the traditional conceptions of global governance, peace, and security. Utilising a qualitative secondary research approach, this chapter will interrogate the interplay between the emerging power syndrome, demonstrated by the BRICS and the ruling power syndrome exhibited by the US and its Western allies to examine the research problem.