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Ukraine war divides Western alliance from the Global South

BRICS nations have long aspired to a new world order

| China
Xi Jinping hosts the 14th BRICS summit via video link in Beijing on June 23: Countries including Saudi Arabia, Iran and Argentina have expressed interest in joining the club of five.   © Xinhua/AP

Rupa Subramanya is a researcher and commentator. She is a distinguished fellow of the Asia Pacific Foundation of Canada and the co-author of "Indianomix: Making Sense of Modern India."

When the acronym BRIC was first coined by Goldman Sachs chief economist Jim O'Neill back in 2001, it was seen as being more than a little flaky and having little analytical content beyond being a good way to package and market the products offered by one of the world's top investment banks.

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