The rise of the BRICS is not only challenging the traditional economic leadership of the G7, but also driving a transformation in global governance that could redefine international relations for decades to come.
The growing economic power of BRICS is reconfiguring global dynamicss, questioning the relevance of G20 and eclipsing G7 in terms of economic production.
In 2024, the BRICS+ They already surpass the G7 in purchasing power parity (PPP), with the emerging bloc holding approximately 36.7% of global GDP, while the G7 contributes 44.4% in nominal terms. The future projection indicates that the economic influence of the BRICS will continue to increase, with an expectation that by 2030 they will represent more than 50% of global GDP.
The rise of BRICS
This economic rise is accompanied by a growing call for reforms in key international institutions such as the IMF and the UN, where the BRICS could play a central role in its reconfiguration.
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Given the diversity and geopolitical reach of the bloc, made up of countries such as China, India and Brazil, these emerging actors seek not only to balance economic power, but also to influence global governance. This includes uniting historically marginalized regions, particularly in Asia, Africa and Latin America.
This change has generated uncertainty about the future of the G20, a forum that previously dominated global economic coordination. As the G7 faces relative decline, the BRICS are promoting a new multilateral approach that could reshape the rules of the global economic gameEY.
Source: Ambito
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