The BRICS share of global GDP has exceeded over 40% and will continue to grow, said Maxim Oreshkin, the Russian Presidential Administration Deputy Chief of Staff. He added that the growth will soon be joined by countries hailing from South Asia and Africa. The BRICS alliance and China have been closely working with these countries by disbursing loans for infrastructural projects.

“Today, the BRICS economies already account for more than 40% of global GDP. And we see that this trend toward this bloc’s strengthening in the global economy will only continue,” said Maxim. “Of course, it is a shift in the center of economic power toward new economies,” he added.

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BRICS Will Lead the Change To the New World Order

Maxim stressed that the BRICS alliance will lead the monetary system into the new world order. He said that the upcoming changes in the financial system are “inevitable.” The diplomat is confident that the upcoming decades will dim the lights on the US-led financial order. The future belongs to developing countries, he said, adding that the world is already preparing for the paradigm shift.

“But this trend is inevitable. Inevitably, new players will emerge to replace the outdated old paradigm. The new players from the BRICS countries, and new players from the Global South. New corridors will open. This change is fundamental and inevitable,” he added. The countries in the South Asian region will play a key role in the change in global finances, he said.

Maxim also stressed that the trade route that BRICS is taking no longer depends on the US-led route. “This will lead to the future of trade being trade between countries of the Global South, between the BRICS countries. This means that the need for logistics is also changing. Different channels, different transport and logistics corridors,” he said.