Beyond Expansion: Can BRICS Convert Economic Weight into Collective Power?

Source: Modern Diplomacy | Original Published At: 2026-09-08 22:00:24 UTC

Key Points

• BRICS' larger membership, resources, population, and markets position it as a voice for the Global South, but economic size alone does not guarantee institutional power.
• The main challenge for BRICS is creating cooperation mechanisms among members with divergent economic interests, currencies, regulations, and priorities.
• BRICS currently functions as an informal coordinating mechanism rather than a supranational institution, lacking an establishing treaty, budget, and secretariat.
• Cross-border payment cooperation should focus on interoperability among national payment systems rather than pursuing a joint BRICS currency.
• India's UPI-PayNow linkage with Singapore is cited as a practical model for connecting different payment systems.
• Trade and supply chain cooperation requires common standards for digital trade documents, certification, customs data, and technical rules.
• Modular cooperation and measurable outcomes are proposed as more effective paths than expansion or declarations alone.