Geoeconomics in transition : Brics+ and the architecture of multipolarity

Abstract

The BRICS coalition has evolved into a critical platform for emerging economies navigating an increasingly fragmented global order marked by trade wars, geopolitical tensions, and multilateral gridlock. This paper examines the role of BRICS+, the expanded grouping that now includes major regional players beyond the original five, in responding to these systemic disruptions. It analyses the bloc’s adaptive strategies to counteract protectionist shocks, including enhanced intra-BRICS trade, local currency settlements, and development finance mechanisms. Amidst these adjustments, the bilateral relationship between Brazil and India emerges as a central pillar for internal cohesion, offering a moderate and development-oriented anchor within a heterogeneous grouping. However, the expansion of BRICS+ also intensifies internal divergences in political systems, economic agendas, and external alignments, complicating collective action. The paper argues that the bloc’s future relevance will depend on its ability to manage these complexities through consensus-based diplomacy and functional cooperation. The 2025 Brazilian presidency is highlighted as a strategic opportunity to institutionalize pragmatic initiatives – ranging from sustainable development f inancing to BRICS+ outreach – while reaffirming the group’s commitment to multilateral reform.