BRICS 2026: the Global South seeks to turn its economic weight into political power
The BRICS bloc held its 18th summit in New Delhi, focusing on expanding its influence as a representative of the Global South. The group discussed economic cooperation, local currency settlements, and the challenge of translating its significant demographic and economic weight into a unified political strategy.
Why it matters
As BRICS expands to include nearly half the world's population, its efforts to challenge Western-led financial systems could significantly alter global geopolitical and economic power dynamics.
From financial acronym to an expanded eleven-member bloc PPP gross domestic product versus the G7 Hydrocarbon resources and nuclear deterrence The New Delhi Declaration: local payments and silence on Ukraine Limits and internal divergences within a diverse bloc The BRICS Summit, held in New Delhi under the presidency of Narendra Modi, confirms the transformation of an association that was initially economic into one of the main platforms for coordinating the so-called Global South. With eleven full members, ten partner countries, and the presence of leaders from major international organisations, the group accounts for nearly half of the world's population, around 40% of global GDP, and an extraordinary share of the planet's energy reserves.
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