BRICS Eyes New "Global Architecture" to Challenge West

World faces a new chapter of collision and competition

Last week, India unveiled plans to establish “sovereign shipping.”

Because of rising geopolitical uncertainty, in particular the flareup between Israel and Iran, New Delhi is taking shipping into its own hands. Instead of being reliant on foreign shipping firms, who have been hiking prices, in part because of the Red Sea, and hurting Indian exports with low margins (like textiles), India wants to guarantee its exports and protect local businesses through its own “sovereign shipping corridors.”

Outside of BRICS, countries are taking bold action.

It is not just India.

China is building a new trade link connecting South America to Asia through a new deepwater port in Peru; South Africa is one of 18 African nations that are establishing an “Africa Energy Bank (AEB)” that will fund African energy projects with local financing; Russia is preparing to deploy thousands of North Korean troops, including special forces, on Ukrainian frontlines, creating a two-front war for Kyiv.