By Brahma Chellaney<br /> <br /> If the promise of the BRICS was to establish a monetary union, a single market, or a tightly integrated political alliance, it has not been fulfilled. But if it was to build a platform for emerging economies to cooperate while advancing their own strategic autonomy, the BRICS has exceeded expectations.

BRICS, with its expanded membership, aims to strengthen multilateralism and global dialogue. The group seeks to convert economic complementarity into resilient and dependable…

When consensus is required among all BRICS members, outcomes tend to settle at the lowest common denominator. These include knowledge exchange, working groups, joint statements.…

The bloc lacks the mechanism to tackle the currency, trade and inflation spillovers members impose on one another

Brahma Chellaney applauds the group’s efforts to advance an institutional order fit for a multipolar world.