In recent years, the BRICS—an alliance comprising Brazil, Russia, India, China, and South Africa—has undergone significant evolution. With 2025 shaping up to be a landmark year, questions arise about the BRICS currency’s price, the symbolism behind the BRICS flag, and the upcoming BRICS Summit 2025, which will be hosted in a yet-to-be-announced location. But is this alliance a real threat to Western economic dominance?
In this blog, we explore the growing influence of BRICS in global affairs, its economic might, strategic goals, and how it compares to traditional Western powers like the United States, European Union, and G7 nations.
Understanding BRICS: The Basics
Originally formed in the early 2000s as “BRIC” (South Africa joined in 2010), the group was seen as a symbol of emerging markets challenging the traditional world order. The core idea was to provide a counterbalance to institutions like the World Bank, the IMF, and the U.S.-led financial system.
Today, BRICS collectively represents:
- Over 40% of the global population
- About 32% of global GDP (PPP-based)
- A significant share of global commodity production, including oil, gas, and rare earths
- A strong push toward de-dollarization and multipolar global governance
What Does the BRICS Flag Represent?
While BRICS doesn’t have a single unified flag like the EU, each summit and initiative often features a combined emblem showcasing unity among its diverse members. As BRICS expands in 2025, discussions around a permanent BRICS flag symbolizing cooperation, sovereignty, and multipolarity may gain momentum.
The Economic Muscle of BRICS
BRICS nations are some of the fastest-growing economies in the world. Here’s a snapshot of their economic influence:
- China is the world’s second-largest economy and a leader in manufacturing, green energy, and digital payments.
- India is one of the fastest-growing major economies with a booming tech and service sector.
- Russia has vast reserves of natural gas, oil, and military assets.
- Brazil is a leading exporter of agricultural products.
- South Africa is rich in minerals and a gateway to the African continent.
Together, these countries have been pushing for a more balanced global economic system that reduces reliance on the US dollar and promotes local currency trade, development banks, and South-South cooperation.
BRICS Currency 2025: A Game-Changer?
In recent BRICS summits, leaders have floated the idea of creating a shared BRICS currency to facilitate intra-bloc trade and challenge the U.S. dollar’s monopoly. Though still under discussion, the proposal includes key updates expected at the BRICS Summit 2025, sparking global interest in the potential BRICS currency price and its impact on cross-border trade.
- Basing the currency on a commodity-backed standard (like gold or oil)
- Initial use only for cross-border settlement among BRICS members
- Potential integration with Central Bank Digital Currencies (CBDCs)
If successful, the BRICS currency could reduce transaction costs, increase trade independence, and give emerging nations greater say in global finance.
De-Dollarization: The Core Strategy
One of BRICS’ boldest economic strategies is challenging the dominance of the US dollar. While the dollar still accounts for over 80% of global transactions, BRICS countries are increasingly:
- Engaging in trade agreements using domestic currencies, such as energy deals between India and Russia.
- Considering the introduction of a unified BRICS currency to streamline international trade among member nations.
- Encouraging central bank digital currencies (CBDCs) for international settlements
This de-dollarization movement is a clear signal that BRICS aims to create a parallel global financial system, reducing Western leverage over international markets.
BRICS vs G7: The Economic Comparison
While BRICS is powerful, it still faces stiff competition from the G7 (United States, United Kingdom, Germany, France, Italy, Japan, and Canada):
| Metric | BRICS | G7 |
| Population | ~3.2 billion | ~770 million |
| GDP (nominal) | ~$28 trillion | ~$44 trillion |
| GDP (PPP) | ~$56 trillion | ~$42 trillion |
| Natural Resources | Dominant | Limited |
| Military Spending | Lower | Significantly Higher |
While the G7 leads in nominal GDP and military strength, BRICS is catching up rapidly in purchasing power, natural resource control, and demographic potential.
Global South Alignment With BRICS
Many Global South nations see BRICS as a platform for:
- Fairer trade partnerships
- Infrastructure development without IMF-style conditional loans
- Voice in global policymaking
Countries like Argentina, Indonesia, and Saudi Arabia have expressed interest in joining future BRICS summits. This surge in demand reflects growing dissatisfaction with Western-centric financial institutions.
BRICS in Africa and Latin America
- China and India have invested billions in African infrastructure and fintech.
- Brazil and Russia have deepened economic ties across Latin America.
- South Africa is BRICS’ strategic gateway to the continent.
These regions are crucial for expanding BRICS’ global relevance, both economically and diplomatically.
BRICS and Tech Sovereignty
To break free from Western tech monopolies, the BRICS nations are:
- Launching independent digital payment systems
- Building data centers and cloud infrastructure outside of U.S. control
- Partnering on AI regulation and development frameworks
- Exploring joint space and cybersecurity programs
This tech alignment boosts not just economic independence but digital sovereignty.
Recent Expansion and Global Influence
The BRICS 2025 host country is expected to play a pivotal role in setting the tone for expansion, particularly with BRICS+ nations joining. While the official announcement is pending, experts expect a strong push toward advancing the bloc’s financial independence and tech sovereignty during the BRICS Summit 2025. In 2023-2024, BRICS announced the inclusion of new member countries such as:
- Iran (energy giant, strategic location)
- Egypt and Ethiopia (Africa’s fastest-growing economies)
- United Arab Emirates (financial and logistics hub)
This BRICS+ expansion signals a growing interest from non-Western nations to align with a multipolar global order.
Moreover, BRICS is gaining soft power by:
- Hosting annual summits to coordinate economic policy
- Proposal for a New Development Bank (NDB) as a rival to the World Bank
- Promoting infrastructure development in the Global South
- Partnering on AI, cybersecurity, and green energy initiatives
Challenges BRICS Must Overcome
Despite its potential, BRICS is not without hurdles:
- Internal Rivalries: India-China border tensions and differing political ideologies create friction.
- Currency Instability: Many BRICS nations face inflation and forex volatility.
- Governance Gaps: Unlike the EU or NATO, BRICS lacks a unified charter or enforcement mechanism.
- Western Sanctions: Russia and Iran face heavy sanctions, limiting financial integration.
Without addressing these issues, BRICS may struggle to present a cohesive alternative to Western dominance.
Why BRICS Is Still a Real Threat
While BRICS may not replace the West anytime soon, it poses a credible threat to the unipolar global system:
- Influence in the Global South: More nations are viewing BRICS as a viable alternative to Western dependence.
- Control Over Resources: BRICS nations dominate key exports (oil, lithium, wheat, etc.).
- Digital Finance & Tech: Countries like China and India are shaping fintech ecosystems outside of Western control.
- Cultural Diplomacy: Soft power tools like media, education, and non-aligned movements are gaining ground.
Conclusion
The answer to this question is that yes, BRICS is a real threat to Western economic dominance, but not in the sense of “replacing” it in the traditional sense. Instead, BRICS is building parallel systems, championing economic sovereignty, and accelerating the move toward a multipolar world order.
For now, the West still holds the lion’s share of global influence. But as BRICS continues to grow, innovate, and expand its alliances, the balance of global power may shift faster than we expect.
Stay tuned to The Puffer for more insights on global politics, economics, and future trends.
FAQs (Frequently Asked Questions)
Q1: What is BRICS, and why is it important?
A: BRICS is a group of emerging economies — Brazil, Russia, India, China, and South Africa — aiming to create a multipolar global economy and reduce Western financial dominance.
Q2: How is BRICS challenging Western economic dominance?
A: BRICS challenges the West by promoting de-dollarization, increasing local currency trade, controlling critical resources, and expanding through BRICS+ members.
Q3: What are the BRICS countries doing about the US dollar?
A: BRICS nations are reducing their dependence on the US dollar by conducting bilateral trade in local currencies and exploring a new BRICS currency.
Q4: Is BRICS more powerful than the G7?
A: While G7 countries lead in nominal GDP and military power, BRICS has a greater population, resource control, and purchasing power parity, making it a growing rival.
Q5: What are the challenges faced by BRICS?
A: Internal political differences, currency instability, lack of institutional cohesion, and Western sanctions are major challenges for BRICS nations.
Q6: What is the expected BRICS currency price in 2025?
A: While an official BRICS currency has not been launched, speculation around its backing (e.g., gold or oil) has led analysts to watch 2025 closely for updates from the BRICS Summit 2025.
Q7: Which country will host the BRICS Summit 2025?
A: The BRICS 2025 host country has not been officially announced, but candidates include Egypt, India, or Brazil based on rotational hosting and recent geopolitical dynamics.
