On paper, the five BRICS countries -- Brazil, China, India, Russia and South Africa -- look like a powerful grouping: the member states combined represent more than a quarter of the earth's landmass, over 42% of the global population, almost 25% of the world's gross domestic product, and nearly half of the global foreign exchange and gold reserves. In reality, though, BRICS is still struggling to define a common identity and build institutionalized cooperation among its members. Their just-concluded summit, held in the Indian beach resort of Goa on Oct. 14-15, underscored inherent challenges.
As the first important non-Western global initiative of the post-Cold War world, BRICS reflects ongoing global power shifts, including the slow retreat of Atlantic dominance.
