BRICS shall not be seen as a Russian or Chinese group; this is an insult to the independence and free choices of the other members of the group as well as a wrong perception of the realities of the international order. Rather, it shall be seen as a balancing power between the great powers of the world to break free from the system of hegemony itself, including any potential hegemony of China or Russia themselves. Independent states, such as India, Egypt, and Brazil, and others, with their historical stances that proved their adoption of independent foreign policy, shall be a guarantor for the balance within BRICS and maintain its function as a resister for any attempt at hegemony whether by the West, which is the case right now, or any potential attempt of hegemony by China or Russia in the future, which is good news for the West, by the way. The BRICS is anti-hegemony, any kind of hegemony whoever the hegemon is, and not necessarily anti-West; it is only anti-West when the West is the hegemon, but when the West becomes equal among equals in the post-hegemonic order, then it shall not be anti-West at all. On the contrary, it even can assist the West to challenge any potential attempt of hegemony by any other rising actor in the new order and to restore the natural balance of power. The rise and expansion of BRICS at the Johannesburg summit in 2023 created a momentum with the admission of new member states including Egypt, Iran, the UAE, Saudi Arabia, and Ethiopia, adding more potential to the group as a representative for the global south with more energy and markets, and the summit in Kazan in October 2024 was also another moment for the larger engagement of the global south in the international financial and economic order toward more balance and the end of hegemony. The Kazan declaration noted the emergence of new centers of power, policy decision-making, and economic growth, which can pave the way for a more equitable, just, democratic, and balanced multipolar world order. It states that multipolarity can expand opportunities for EMDCs to unlock their constructive potential and enjoy universally beneficial, inclusive, and equitable economic globalization and cooperation, referring to bearing in mind the need to adapt the current architecture of international relations to better reflect the contemporary realities. Reiterating the commitment to improving global governance by promoting a more agile, effective, efficient, responsive, representative, legitimate, democratic, and accountable international and multilateral system; reaffirming our support for the rules-based, open, transparent, fair, predictable, inclusive, equitable, non-discriminatory, consensus-based multilateral trading system with the World Trade Organization (WTO); and expressing its deep concern about the disruptive effect of unlawful unilateral coercive measures, including illegal sanctions. Its outcomes had significant deliverables including support further development of the NDB and improvement in corporate governance and operational effectiveness toward the fulfillment of the NDB’s General Strategy for 2022–2026, which states that it will allocate 30% of its finance in local currency, stating its support the NDB in continuously expanding local currency financing and strengthening innovation in investment and financing tools, also jointly develop the New Development Bank into a new type of MDB in the twenty-first century, in addition to welcome the BRICS Interbank Cooperation Mechanism (ICM) focus on facilitating and expanding innovative financial practices and approaches for projects and programmes, including finding acceptable mechanisms of financing in local currencies, welcoming a continued dialogue between the ICM and the NDB, welcome the use of local currencies in financial transactions between BRICS countries and their trading partners. It encourages the strengthening of correspondent banking networks within BRICS and enabling settlements in local currencies in line with the BRICS Cross-Border Payments Initiative (BCBPI), which is voluntary and non-binding, and looks forward to further discussions in this area, including in the BRICS Payment Task Force, agreeing to discuss and study the feasibility of the establishment of an independent cross-border settlement and depositary infrastructure, BRICS Clear, an initiative to complement the existing financial market infrastructure, as well as BRICS independent reinsurance capacity, including the BRICS (Re)Insurance Company, with participation on a voluntary basis. Also recognizing the effectiveness of Special Economic Zones (SEZs) of the BRICS countries as a well-established mechanism for trade and industrial cooperation and the facilitation of manufacturing, including those but not limited to high-tech sectors of the economy, IT and IT-enabled services, tourism, port and transport infrastructure, development and commercialization of technologies, and the production of new types of value-added products. It also acknowledges that special economic zones provide immense opportunities for encouraging additional investment in priority areas of economic development. Welcoming the establishment of a forum for cooperation on SEZs of the BRICS countries and to carry out practice-oriented activities, including exchanges of best practices on implementation of standards and methodologies for managing SEZs.

The Rise of the Global South as a Balancer in International Order in the Post-Hegemonic Order

章节
发表日期：

2025年

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Amr Mohieeldin

摘要

BRICS shall not be seen as a Russian or Chinese group; this is an insult to the independence and free choices of the other members of the group as well as a wrong perception of the realities of the international order. Rather, it shall be seen as a balancing power between the great powers of the world to break free from the system of hegemony itself, including any potential hegemony of China or Russia themselves. Independent states, such as India, Egypt, and Brazil, and others, with their historical stances that proved their adoption of independent foreign policy, shall be a guarantor for the balance within BRICS and maintain its function as a resister for any attempt at hegemony whether by the West, which is the case right now, or any potential attempt of hegemony by China or Russia in the future, which is good news for the West, by the way. The BRICS is anti-hegemony, any kind of hegemony whoever the hegemon is, and not necessarily anti-West; it is only anti-West when the West is the hegemon, but when the West becomes equal among equals in the post-hegemonic order, then it shall not be anti-West at all. On the contrary, it even can assist the West to challenge any potential attempt of hegemony by any other rising actor in the new order and to restore the natural balance of power. The rise and expansion of BRICS at the Johannesburg summit in 2023 created a momentum with the admission of new member states including Egypt, Iran, the UAE, Saudi Arabia, and Ethiopia, adding more potential to the group as a representative for the global south with more energy and markets, and the summit in Kazan in October 2024 was also another moment for the larger engagement of the global south in the international financial and economic order toward more balance and the end of hegemony. The Kazan declaration noted the emergence of new centers of power, policy decision-making, and economic growth, which can pave the way for a more equitable, just, democratic, and balanced multipolar world order. It states that multipolarity can expand opportunities for EMDCs to unlock their constructive potential and enjoy universally beneficial, inclusive, and equitable economic globalization and cooperation, referring to bearing in mind the need to adapt the current architecture of international relations to better reflect the contemporary realities. Reiterating the commitment to improving global governance by promoting a more agile, effective, efficient, responsive, representative, legitimate, democratic, and accountable international and multilateral system; reaffirming our support for the rules-based, open, transparent, fair, predictable, inclusive, equitable, non-discriminatory, consensus-based multilateral trading system with the World Trade Organization (WTO); and expressing its deep concern about the disruptive effect of unlawful unilateral coercive measures, including illegal sanctions. Its outcomes had significant deliverables including support further development of the NDB and improvement in corporate governance and operational effectiveness toward the fulfillment of the NDB’s General Strategy for 2022–2026, which states that it will allocate 30% of its finance in local currency, stating its support the NDB in continuously expanding local currency financing and strengthening innovation in investment and financing tools, also jointly develop the New Development Bank into a new type of MDB in the twenty-first century, in addition to welcome the BRICS Interbank Cooperation Mechanism (ICM) focus on facilitating and expanding innovative financial practices and approaches for projects and programmes, including finding acceptable mechanisms of financing in local currencies, welcoming a continued dialogue between the ICM and the NDB, welcome the use of local currencies in financial transactions between BRICS countries and their trading partners. It encourages the strengthening of correspondent banking networks within BRICS and enabling settlements in local currencies in line with the BRICS Cross-Border Payments Initiative (BCBPI), which is voluntary and non-binding, and looks forward to further discussions in this area, including in the BRICS Payment Task Force, agreeing to discuss and study the feasibility of the establishment of an independent cross-border settlement and depositary infrastructure, BRICS Clear, an initiative to complement the existing financial market infrastructure, as well as BRICS independent reinsurance capacity, including the BRICS (Re)Insurance Company, with participation on a voluntary basis. Also recognizing the effectiveness of Special Economic Zones (SEZs) of the BRICS countries as a well-established mechanism for trade and industrial cooperation and the facilitation of manufacturing, including those but not limited to high-tech sectors of the economy, IT and IT-enabled services, tourism, port and transport infrastructure, development and commercialization of technologies, and the production of new types of value-added products. It also acknowledges that special economic zones provide immense opportunities for encouraging additional investment in priority areas of economic development. Welcoming the establishment of a forum for cooperation on SEZs of the BRICS countries and to carry out practice-oriented activities, including exchanges of best practices on implementation of standards and methodologies for managing SEZs.