Being in a low-growth trap the world economy desperately needs an impetus, a new driving force that the western-backed global institutions are lacking. In current circumstances, the BRICS block has a unique opportunity to offer an inclusive agenda for the world economy and, thus, to lead the evolution of global economic integration.
Given that the BRICS is a unique grouping that is present in all key regions and continents of the developing world, it could serve as a platform for expanding South-South cooperation and economic integration across a wide range of areas.
In this regard, rather that seeking to expand core membership, the BRICS+ construct is first and foremost about a different approach to economic integration and a different technology of how alliances are structured globally.
This Valdai Paper, written by Yaroslav Lissovolik, Programme director of the Valdai Discussion Club, describes the BRICS+ and the BRICS++ concepts in detail and discusses the modalities of how these blocks could pave the way to an alternative globalisation.