Chinese Premier Li Qiang called for BRICS nations to lead global governance reforms during the 17th BRICS summit in Brazil, emphasizing the bloc's growing influence in creating a multipolar world order. With member states representing over half of humanity and 40% of global economic output, the group is positioning itself as a counterbalance to traditional Western-led institutions.
A New Vision for Global Cooperation
Premier Li urged BRICS countries to champion 'more just, equitable, and efficient' international systems during the 'Peace and Security and Reform of Global Governance' session. His remarks come as developing nations increasingly demand greater representation in institutions like the IMF and World Bank.
Economic Power Shift Accelerates
IMF projections reveal BRICS' combined GDP (PPP) will reach 40.7% by 2025, surpassing the G7's 28.4%. This economic realignment strengthens the bloc's ability to advocate for Global South interests, particularly in trade and development financing.
Multilateralism vs Protectionism
As protectionist policies rise in some Western economies, BRICS continues pushing for inclusive multilateral frameworks. The group's united stance on currency alternatives and development financing models offers new options for emerging markets.
