BRICS points to a new direction for global cooperation, highlights Global Times

247 - BRICS began its 17th summit this Sunday (6), in Rio de Janeiro, with a historic configuration: for the first time, the group is meeting in the “11+10” format, with 11 member countries and 10 partner nations. The recent expansion, with Indonesia joining as a full member in January and Vietnam as a partner in June, reflects the growing strength of the articulation between countries of the Global South.

In an editorial published this Saturday (6), the newspaper Global TimesThe statement from China highlighted that BRICS "points to a new direction for global cooperation," based on openness, inclusion, and shared development. The text argues that the so-called "expanded BRICS" has become an engine of global growth and a stabilizing force in the face of rising unilateralism and protectionism.

Under the motto "Strengthening cooperation in the Global South for more inclusive and sustainable governance"The summit in Brazil established three priority areas: deepening cooperation in public health, presenting a unified position on the climate crisis, and facilitating trade and investment among the bloc's members.

On the eve of the meeting, Colombia and Uzbekistan formalized their entry as full members of the New Development Bank (NDB), an institution created by BRICS to finance infrastructure, clean energy, health, and social inclusion projects. Since its founding, the NDB has approved 120 projects, totaling US$39 billion.

According to the International Monetary Fund (IMF), the BRICS countries grew by 4% in 2024—a result higher than the global average. Global TimesThis performance demonstrates that BRICS has become an "engine of the South" driving global development. The bloc now represents more than 50% of the global population, almost 30% of global GDP, and accounts for one-fifth of international trade.

The expansion of BRICS and the holding of the summit in Brazil have attracted widespread attention from the international media. The agency Reuters He noted that the new format “adds diplomatic weight” to the group and positions it as “a defender of multilateralism in an increasingly fragmented world.” New York Times He emphasized the BRICS effort to "reorganize the dynamics of global power."

Although the BRICS countries have distinct historical trajectories, diverse political systems, and different levels of development, the editorial of Global Times It emphasizes that it is precisely this diversity that makes the bloc valuable. "BRICS is a platform for inclusion and complementarity, where the voice of the Global South gains strength and legitimacy," the text states.

China, one of the main players in BRICS, has been committed to expanding partnerships with Latin America and other regions of the Global South. According to research published by... Global Times InstituteDuring events held in Latin America at the end of June, 93% of respondents in six Latin American countries stated that China offers development opportunities to the region, while 84% acknowledged the promising prospects of the Chinese economy.

Beyond institutional advancements, concrete proposals are on the summit's agenda, such as the creation of a new guarantee fund, the launch of the "Tropical Forests Forever Facility" initiative, and a joint position on IMF reform. According to the editorial, BRICS continues to transform words into action: "All commitments are being gradually implemented, with concrete results in development."

The text of the Global Times The article concludes that, in the face of a transforming international landscape, BRICS has demonstrated cohesion, effectiveness, and strategic vision. The summit in Rio de Janeiro, according to the newspaper, represents a new starting point. BRICS, it affirms, will continue to promote reforms in global governance, deepening cooperation in multiple areas and offering a collective response to the structural changes of the 21st century.