It’s almost time.

The world is facing significant geopolitical shifts. It is also, as confirmed by the IMF, facing shifts in the flow of financing as they come to reflect geopolitical alliances. Much has been argued regarding what global reforms are required to remedy the defects in the institutional architecture of global governance. Extensive research has also confirmed the failure of multilateralism to not only achieve the ends of the UN Charter but also implement its mandates. This conversation attempts to match the discourse and momentum for reform and development with the response of the BRICS bloc and others’ efforts. It outlines the global context in which the bloc must attempt to meet its objectives and reflects upon whether or not the bloc is advancing a new global agenda.

BRICS and Contemporary Global Challenges

From October 22-24, 2024, BRICS will hold its next summit of heads of state and government. This summit is being held amid fast-growing momentum to reform multilateralism and its institutions, as demonstrated by the United Nations General Assembly (UNGA)’s adoption of the Pact for the Future (PFTF). This pact speaks to the affirmation of the correctness of the global reform and development agenda. It does not specify exactly what, when, or how reform should happen, such as UN reforms. However, the BRICS bloc, as a platform for discussion and consensus-driven cooperation and a significant component of the G20, also bears the responsibility and has an opportunity to negotiate and push for the required reforms. BRICS said of the G20 in 2009, “We stress the central role played by the G20 Summits in dealing with the financial crisis. They have fostered cooperation, policy coordination, and political dialogue regarding international economic and financial matters (BRICS Summit Statement, 2009).”

The processes underway will slowly reinvent and reorder most international institutions along the lines of national sovereignty and with the assorted peoples (and not the assorted financial vampires) in mind.

A little tour of Kazan: