THIS is with reference to the report ‘Putin scores BRICS win with rare Xi, Modi show of harmony’ (Oct 24). The recent summit of BRICS, an alliance of emerging econ-omies, in Russia marked a significant turning point in the global political landscape. The meeting between Chinese President Xi Jinping and Indian Prime Minister Narendra Modi signalled a pote-ntial thaw in the long-standing animosity between the two nuclear powers. This development, coupled with the summit’s focus on alternative payment systems and economic cooperation, has raised hopes for a multipolar world order.

The summit’s outcome, including the resolution of the four-year military standoff on the Himalayan frontier, is a testament to the growing recognition by both nations of the importance of cooperation over confrontation. The shared commitment to peace and stability on the border, as expressed by both the leaders, is a positive development that could pave the way for greater economic and political collabo-ration between the two giants.

The summit’s focus on alternative payment systems, such as a potential BRICS-backed currency, is a significant step towards reducing dependence on the greenback. This move could challenge the dominance of the Western financial system, and empower emerging economies to play a more central role in global economic governance.

However, the future of BRICS will remain uncertain till both China and India put their words of reconciliation into action on the ground. Else, their bilateral disputes may pose a significant challenge to the group’s unity. The recent summit has offered a glimmer of hope for a more harmonious relationship between the two countries. If they can sustain this momentum and address their underlying differences, the BRICS could play a more pivotal role in shaping the global order.

The summit has demonstrated the growing influence of emerging economies and the potential for alternative gove-rnance structures. As the world continues to evolve, the BRICS group may emerge as a key player in shaping the future of global politics and economics.

Sajjad Ali Mugheri
Larkana

Published in Dawn, October 27th, 2024