BRICS as an Alternative to Western Dominance in the Formation of a New World Order

Abstract

The modern international system is at a turning point — the transition from a unipolar world order to a multipolar one. The main leading forces are BRICS and the West. The influence of the United States and Europe on the countries of the Global South is gradually decreasing, which creates an opportunity for the creation of alternative centres of power. One of these alternatives is the BRICS: originally Brazil, Russia, India, China, South Africa, now expanded to BRICS+. This study aims to analyse this bloc and highlights the main question: In what ways does the BRICS group represent an alternative to Western-led global governance? It is important to study the ideas embodied by BRICS to identify whether it can change the system. The purpose of the study is to determine the extent to which BRICS represents an alternative to the Western model of global governance, particularly in the financial sector, including banks, payment systems, and digital currencies. The study shows that the world is experiencing a turning point in the transition from a unipolar system to a multipolar one. The two centres of power, if they want to cooperate, can achieve great victories for the benefit of the global population, the environment, and, of course, the economy and politics.