Diverse Political Systems: BRICS represents countries with a range of political systems (democratic, authoritarian, and mixed), contrasting with the Western capitalist focus on liberal democracy and free markets.
Multipolar World Order: Advocates for a global governance system that is not dominated by a single power (such as the West), promoting a more balanced geopolitical and economic world order.
2. Non-Interference in Domestic Politics
Respect for Sovereignty: BRICS emphasizes non-interference in the domestic affairs of nations, advocating for respect for national governance systems and avoiding the imposition of political reforms, which is often seen in Western approaches.
3. Reform of Global Governance
Inclusive Decision-Making: BRICS pushes for reforms in international institutions like the UN, IMF, and World Bank, to better represent emerging economies and developing countries, aiming for a fairer global governance system.
De-dollarization: Aims to reduce the dominance of the U.S. dollar in global trade and finance, advocating for a more diversified and balanced financial system.
4. Focus on Development and Sovereignty
Development-Oriented Policies: Promotes a focus on infrastructure development, poverty alleviation, and sustainable growth, especially for emerging and developing economies, positioning itself as an alternative to Western neoliberal economic models.
Sovereignty in Policy: Encourages nations to maintain autonomy in determining their development paths, without external economic or political pressure to follow specific models dictated by Western institutions.
5. Alternative Financial Systems
New Development Bank (NDB): Established to provide financial support for development projects, especially in emerging economies, with fewer conditionalities compared to Western institutions like the IMF or World Bank.
Contingent Reserve Arrangement (CRA): Offers emergency financial assistance to BRICS nations during crises, reducing dependence on the IMF and its conditionalities.
6. Inclusive Trade Partnerships
South-South Cooperation: Advocates for trade and economic collaboration focused on mutual benefit, particularly among developing countries, offering an alternative to the traditional North-South trade model dominated by Western powers.
Alternatives to the WTO: Promotes trade agreements and cooperation outside of Western-dominated trade institutions like the World Trade Organization, favoring more equitable economic partnerships.
7. Energy and Resource Cooperation
Sustainable Energy Projects: Focuses on energy projects and resource cooperation that are more independent of Western energy markets and geared toward long-term sustainability, fostering self-reliance and equitable resource distribution.
