Nepal, July 4 -- Throughout history, shifts in the world order-whether marked by instability, chaos or realignment-have typically been driven by the dynamics shaped by the rise of emerging powers and the resistance from established ones. Today, we are witnessing a dynamic process marked by mutual challenges, constraints, dependencies and accommodations between dominant and emerging powers. BRICS, a representative of the Global South, is increasingly asserting itself economically, politically and diplomatically in this changing landscape.

Since it was formed, BRICS has advocated multilateralism and international cooperation grounded in the principles of fairness and inclusion. The existing Western-led institutions, along with their govern...