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Daily-current-affairs / 30 May 2022

Building Peace and Prosperity with Strong BRICS : Daily Current Affairs

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Relevance: GS-2: Bilateral, Regional, and Global Groupings and Agreements involving India and/or affecting India’s interests.

Key Phrases: BRICS, BRICS Foreign Ministers’ meeting, Global Security Initiative, Global Development Initiative, Global Community of Health for All, BRICS plus, Global Governance philosophy.

Context:

  • Recently Wang Yi, State Councilor and Foreign Minister, China presided over a virtual meeting of BRICS Foreign Affairs/International Relations Ministers in Beijing.
  • Sixteen years after its creation, BRICS has become an important platform for win-win cooperation among China, India, Russia, Brazil, and South Africa, and a significant force for the evolution of international order, the improvement of global governance, and the promotion of common development.
  • It is of great significance for the BRICS Foreign Ministers’ meeting to reach consensus and outcomes on multiple important issues concerning global security and development, which made political preparations for the 14th BRICS summit.

What is BRICS?

  • BRICS is an acronym for 5 emerging economies of the world viz. – Brazil, Russia, India, China, South Africa. The term BRIC was coined by Jim O’ Neil, the then chairman of Goldman Sachs in 2001. The first BRIC summit took place in the year 2009 in Yekaterinburg (Russia). In 2010, South Africa formally joined the association making it BRICS.

Where is the headquarters of BRICS?

  • BRICS Tower headquarters (former Oriental Financial Centre) is in Shanghai.

Key takeaways of BRICS Foreign Ministers’ meeting:

  • BRICS countries will strengthen solidarity and cooperation in the face of challenges with firm conviction, take real actions to promote peace and development and uphold fairness and justice.
  • It will inject more BRICS strength into global development, and speak with a louder BRICS voice to uphold the common interests of the developing countries.
  • It sent out the message of supporting multilateralism, supporting anti-pandemic cooperation, supporting common development, and supporting solidarity and cooperation.

BRICS as builders of universal security:

  • Cold-war mentality and bloc confrontation pose grave threats to world peace and security.
  • Seeking one’s security at the expense of others will only create new tensions and risks.
  • Global Security Initiative: China put forward the Global Security Initiative, pointing out the way to make up the peace deficit and solve the global security dilemma.
    • It is important to respect and guarantee the security of every country, replace confrontation and alliance with dialogue and partnership, and promote the building of a balanced, effective, and sustainable regional security architecture.

What needs to be done by BRICS countries?

  • Strengthen political mutual trust and security cooperation;
  • Maintain communication and coordination on major international and regional issues;
  • Accommodate each other’s core interests and major concerns;
  • Respect each other’s sovereignty, security, and development interests;
  • Oppose hegemonism and power politics and
  • Work together to build a global community of security for all.

BRICS as a contributor to common development:

  • The COVID-19 pandemic threatens to derail the world economy. The irresponsible macro-economic and monetary policies of certain countries have aggravated the uncertainties and imbalances of economic recovery.
  • Global Development Initiative: China’s Global Development Initiative gives priority to development, embraces the people-centered core concept, and calls for more robust, greener, and more sound global development.
    • It provides a Chinese solution to global development problems and has been widely echoed by the international community.
    • Facing the rising tide of de-globalisation and the increase of unilateral sanctions and technology barriers, BRICS countries should enhance mutually-beneficial cooperation in supply chains, energy, food, and financial resilience, take solid steps to implement the Global Development Initiative, foster an open world economy and create a favourable environment for common development.

What should be the role of BRICS in the health sector?

  • COVID Management: BRICS countries should be pioneers of cooperation in COVID-19 pandemic management.
    • The international pandemic response is at a critical moment, and it should not be given uphalfway.
  • Global Community of Health for All: It should accelerate the building of a global community of health for all, a coordinated international approach to the pandemic, and the improvement of global health governance.
  • One Earth, One Health: India’s vision of ‘One Earth, One Health’ also contributes to multilateral cooperation on public health.
  • Leverage respective strengths: BRICS countries should fully leverage their respective strengths, and jointly promote the development of global health governance in a direction in favour of developing countries.
  • Early warning mechanism: BRICS should make good use of the BRICS Vaccine Research and Development Centre, establish a BRICS early warning mechanism for preventing large-scale infectious diseases, and provide high-quality public goods for global health governance cooperation.

What should be the governance philosophy?

  • Co-ordinated global action: BRICS countries should be leaders of global governance. Only by coordinating global actions can help properly cope with emerging global challenges.
  • Safeguarding the international system: “Small circles” cannot solve the “big challenges” facing the whole world. BRICS countries should firmly safeguard the international system, with the United Nations at its core and the international order underpinned by international law, and ensure that international affairs have participation by all, international rules are formulated by all, and development outcomes are shared by all.
  • Global Governance philosophy: It should embrace a global governance philosophy that emphasises extensive consultation, joint contribution, and shared benefits, enhance unity and cooperation with emerging markets and developing countries, and increase the voice in global governance.

BRICS plus:

  • All parties to the BRICS support and advocate the ‘BRICS plus’ cooperation model, which is a platform born for cooperation and thrives on development.
  • BRICS will explore the ‘BRICS plus’ cooperation at more levels, in more areas, and in a wider scope.
  • It was proposed to launch the BRICS expansion process and discuss standards and procedures for expansion to build consensus step-by-step.
  • This will increase BRICS countries’ representation and influence and make greater contributions to world peace and development.

Conclusion:

  • As an old saying goes, if you want to walk fast, walk alone. If you want to walk far, walk together.
  • Since the establishment of the BRICS mechanism, it has been closely connected with the destiny of emerging markets and developing countries.
  • BRICS is committed to translating the BRICS spirit of openness, inclusiveness, and win-win cooperation into concrete actions, deepening the BRICS partnership centering on the theme of ‘forming a high-quality partnership to jointly create a new era of global development’; and will make unrelenting efforts to build a community with a shared future for mankind.

Source: The Hindu

Mains Question:

Q. How are the new geopolitical realities recalibrating the agenda in domains of security, health, and development for BRICS?