The rapid expansion of BRICS has sparked debates over the relevance of the G20, according to Andrey Koshkin, head of the Department of Political Science and Sociology at the Plekhanov Russian Economic University. Koshkin shared his views with Tass publication, highlighting that BRICS member states are now surpassing the G7 in terms of economic output when measured by purchasing power parity (PPP), potentially diminishing the significance of the G20. He explained:

The G20 is in decline. It is going obsolete as a platform that has absorbed everything it was able to.

“This does not mean that it should be closed down. It can continue to function somehow further on. But as of today, there has appeared BRICS. The G20 is becoming questionable,” he clarified.

Koshkin also highlighted the potential for BRICS to drive reforms in major international organizations, such as the World Trade Organization (WTO), the International Monetary Fund (IMF), and the United Nations (UN). He pointed out that although many countries agree on the need for such reforms, no single nation, not even China or Russia, could manage these changes independently. “BRICS can succeed,” he stressed, suggesting that the economic bloc could meet global expectations for institutional reform.

He additionally emphasized that BRICS is uniting regions that have often been sidelined by the G7. The economic output of BRICS members is now overtaking that of the G7, which once accounted for 50% of global production in the 1980s but now contributes only 30%. He noted that “BRICS in 2023 contributed something like 35%,” underscoring a significant shift in global economic trends. “BRICS is already overtaking them,” Koshkin remarked, contrasting the declining influence of the G7 with the rise of the economic bloc.

He noted:

BRICS is a rapidly developing platform. Today it unites the East and the global South, which the G7 is in the habit of brushing aside as garbage.

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