BRICS nations face deep internal divisions over currency policy and global institutional reform, according to international relations professor Rumen Kнчеv, who spoke on Bloomberg TV Bulgaria’s “In Development” program with host Georgi Mesrobovich. While Beijing pushes for a common currency and a joint development bank, New Delhi advocates preserving the US dollar and maintaining balanced relations with both China and Western Europe, highlighting a fundamental strategic split within the economic bloc.
Economic Weight and Internal Fragmentation
The bloc represents roughly 32-34 трлн. долара in gross domestic product, accounting for approximately 27-28% of the global economy, according to Kнчеv’s analysis. This economic footprint matches the United States, while the European Union contributes another 25 трлн., bringing the combined economic share of these Western and allied economies to over half of the world total. Within the group, however, economic gravity skews heavily toward China, whose economy measures around 20 трлн. долара, leaving the remaining 10 member states on a separate tier.
“In BRICS, China does not finance education or high technologies, but energy and strategic raw materials, sectors it needs,” Kнчеv stated during the broadcast.
Did you know? The bloc’s recent declaration notably omitted any discussion of the ongoing war in Ukraine, focusing instead on broader demands to overhaul international institutions while offering few concrete structural models.
Divergent Security Views and the Legacy of the Shanghai Cooperation Organisation
The absence of a unified stance on the conflict in Ukraine contrasts sharply with members’ acknowledgment that Middle Eastern instability harms China’s energy interests. This selective diplomacy underscores broader structural friction across the coalition. Moscow previously attempted to forge a post-Cold War Eurasian alternative through the Shanghai Cooperation Organisation, founded in 2001 and spanning 14 to 15 nations, though that body failed to generate significant economic or trade traction. Russia twice pushed to incorporate a military component into the organisation, but China repeatedly blocked those efforts to maintain a strictly non-military status.
Ideological divergence compounds these economic and security disagreements. Kнчеv pointed out that the coalition unites states with sharply conflicting value systems, dominated largely by authoritarian regimes, including China under its ruling communist party. Their primary unifying thread is opposition to Western liberal democracy, which the member states seek to counter by building an alternative global order.
Geopolitical Realignment and Hybrid Pressure on Europe
The current era marks the initial phase of a profound strategic realignment following the end of the Cold War and the collapse of American unipolarity, as major powers contest the existing international architecture. Moscow views its military campaign in Ukraine as an existential contest designed to challenge US dominance. According to Kнчеv, Russia is preparing for a protracted war intended to exhaust not only Ukraine but also the European Union, aiming to erode European faith in the bloc.
Rather than targeting military installations directly, Russian hybrid operations focus on the European political elite to fracture internal consensus and unity, Kнчеv explained. While Moscow remains determined to capture 20-25% of Ukrainian territory, former Ukrainian chief of the general staff and current London ambassador Gen. Valerii Zaluzhnyi has argued that preserving the nation, culture, statehood, and population takes precedence over holding physical ground.
Frequently Asked Questions
What are the main economic divisions within BRICS?
China advocates for a shared currency and a joint development bank, whereas India prefers retaining the US dollar and pursuing balanced diplomatic and economic ties with both China and Western Europe.
How large is the economic output of the BRICS bloc?
The coalition commands a combined GDP of 32-34 трлн. долара, making up roughly 27-28% of the global economy.
What is the bloc’s position on global institutions?
Member states have called for sweeping changes to existing world institutions, though critics note the group has yet to present a cohesive alternative model for global governance.
How does Russia approach its conflict with Ukraine in a broader geopolitical context?
Moscow views the war as an existential challenge to the post-Cold War US-led global order, utilizing protracted military pressure and hybrid tactics to strain European political unity.
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