Putin Declares BRICS the Future Engine of the Global Economy. Russian President Vladimir Putin has declared that the BRICS nations—Brazil, Russia, India, China, and South Africa—are poised to lead global economic growth, outpacing Western countries. Speaking at the BRICS summit, Putin emphasized the bloc’s growing influence in international trade, finance, and development, stating that it will be the primary engine of the global economy in the coming decades.
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Moreover, Putin highlighted the group’s significant economic potential. Noting that BRICS represents around 40% of the world’s population and a quarter of the global GDP. He argued that the Western-led economic model has shown signs of decline. Particularly after the COVID-19 pandemic and the current geopolitical tensions.
According to Putin, BRICS countries are better positioned to adapt to new global realities. As they have focused on enhancing trade ties, boosting technology. Creating independent financial systems that reduce reliance on Western institutions. “The global balance is shifting in favor of BRICS,” Putin stated. Adding that the West’s influence on global economic policies is diminishing.
However, this message resonates with Russia’s broader geopolitical strategy. Especially as tensions with Western nations remain high due to the ongoing war in Ukraine. The Russian leader has been pushing for closer economic cooperation with non-Western countries to counter sanctions and maintain Russia’s global standing.
At the summit, BRICS leaders discussed expanding the group’s membership, with several nations expressing interest in joining. This expansion, Putin said, could further boost BRICS’ economic power, making it a formidable alternative to Western-dominated organizations like the G7.
International analysts have pointed out that while BRICS has significant potential. The bloc still faces challenges such as internal political differences and uneven economic development among its members. However, Putin’s vision reflects a growing sentiment among non-Western nations seeking to reshape the global economic landscape.
