Talk about alternative global orders and you will inevitably hear about BRICS. The bloc pitches itself as a counterweight to Western-dominated financial institutions, offering a safe haven for emerging economies. Look past the diplomatic handshakes and joint communiques, though, and a different reality emerges. China is quietly pulling all the structural levers, turning what was supposed to be a multipolar coalition into a Beijing-centred trade network.
If you analyze the merchandise trade data across member states, the imbalance hits you immediately. China captures roughly two-thirds of total intra-BRICS exports. While other emerging economies in the bloc trade with each other, their commercial gravity pulls hardest toward Chinese manufacturing centers. When Beijing pitches new digital ecosystems, open-source artificial intelligence communities, and specialized economic zones, it is laying down the digital and physical rails that the rest of the bloc must run on.
The Trade Imbalance Nobody Wants to Discuss Publicly
Trade deficits within the bloc are widening at an alarming rate. India, Brazil, and South Africa buy billions in advanced machinery, electronics, and green tech components from China, while exporting largely raw commodities and primary goods in return. Bilateral commerce between major players like India and China crossed staggering milestones recently, hitting $155 billion, yet the flow is overwhelmingly one-sided.
This creates a classic core-periphery dynamic. China acts as the high-value manufacturing powerhouse, while partner nations supply the raw inputs. During recent economic forums in New Delhi, Indian ministers like External Affairs Minister S. Jaishankar and Commerce Minister Piyush Goyal pushed hard for transparent trade practices, reduced non-tariff barriers, and diversified supply chains. They know what is happening. They are trying to keep the ecosystem open, but market realities are tough to argue with. When local industries rely entirely on Chinese imports for solar manufacturing, active pharmaceutical ingredients, and critical electronics, economic independence becomes an uphill battle.
The Push for Alternative Financial Rails
You cannot talk about trade without talking about money. BRICS finance ministers have spent considerable energy railing against unilateral tariffs, protectionist measures, and the weaponization of traditional payment systems. Proposals for local-currency settlements and alternative cross-border payment mechanisms sound revolutionary on paper.
Yet, practical execution favors the yuan. As member states try to bypass traditional Western systems, Beijing's currency naturally steps into the vacuum for intra-bloc settlements. Initiatives targeting smart factories, digital ecosystem cloud platforms, and specialized insurance networks are heavily backed by Chinese infrastructure and technology grants. China offers solutions, and cash-strapped developing economies gladly accept them, anchoring themselves deeper into Beijing's economic orbit.
What This Means for Global Commerce
You have to look at the broader picture. BRICS is expanding rapidly, welcoming new partner countries across Asia, Africa, and Latin America. On the surface, this "Greater BRICS" movement looks like a win for multilateralism. Underneath, it expands China's export market and secures its access to vital natural resources.
If you are running a business or formulating trade policy, stop viewing BRICS as a harmonious collection of equals. Treat it for what it actually is: a commercial arena dominated by Chinese industrial scale. Diversifying your supply chains means keeping a close eye on how Beijing's standards, digital platforms, and manufacturing norms shape the regulatory realities of the Global South.
Protect your margins by auditing your supply chain dependencies on Chinese inputs today, and look for alternative regional partners before structural monopolies lock you out for good.
BRICS at 20: Can China and the Global South reshape global trade?
This video provides an in-depth analysis of how China's expanding economic footprint shapes trade dynamics across the Global South.
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