Valdai Club

BRICS has received an impulse to make a real transition to a new, more just world order. The ability of the new BRICS to fully realize itself and fulfill the mission of the transition depends on how our descendants will remember the 21st century, Viktoria Panova writes.

Regardless of the outcome of the G20 summit itself, it will be possible to mark the Indonesian presidency as a success. After all, the current crisis has allowed Indonesia to prove itself as a global power. It is precisely the crisis and the hegemonic aspirations of the West that allow the rest of the G20 members to look for and eventually find those bold and non-standard solutions that will lead to a new, more just and equal world.

Non-western powers began to form their own institutions to promote their common interests and increase the international weight of each individually. BRICS was the main such institution.

The Far East, as the intersection of three key regions, Eurasia, Pacific Asia and the Arctic, opens prospects for overcoming the false dilemma of the traditional division into continental or maritime states. The former implies integration with mainland Eurasia and the latter, deeper involvement in the processes that are unfolding in the Asia Pacific Region.

It has been 10 years since the first G20 summit. The format has been preserved and consolidated as a global “economic directorate” of sorts. Although it is always tempting to review its previous decisions and the extent to which they are implemented, or recall that many of these are either mere frameworks or remain on paper like the notorious plan to prevent new protectionist measures, we must not forget that these meetings make it possible to maintain a measure of trust and forestall panic on global markets.