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BGTN > Editorial and opinions > North Korea Signals to Join BRICS
Editorial and opinions

North Korea Signals to Join BRICS

Khaka Ngcofe
Last updated: May 13, 2024 3:56 pm
By Khaka Ngcofe
5 Min Read
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(Photo by KCNA VIA KNS / AFP)
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North Korea’s recent signal of interest in joining the BRICS alliance marks a potential shift in the country’s long standing geopolitical isolation, presenting a complex interplay of diplomatic ambitions and strategic calculations.

Against the backdrop of its traditional posture characterised by isolationism and defiance, North Korea’s willingness to engage with the BRICS bloc—a coalition of emerging economies—signals a desire for greater economic integration and a potential reorientation of its geopolitical strategy.

This development coincides with a pivotal moment for the BRICS bloc, as member countries embark on efforts to reshape the global financial landscape and challenge the dominance of the US dollar.

Discussions within BRICS have centred on establishing alternative payment systems and currencies, a move aimed at reducing reliance on Western-controlled financial infrastructure.

For North Korea, the allure of BRICS lies in the prospect of gaining access to these evolving payment infrastructures, particularly those revolving around central bank digital currencies. By circumventing the Western-dominated SWIFT network, Pyongyang sees an opportunity to assert greater autonomy and resilience in its economic dealings for his country.

The BRICS alliance plays a crucial role in shaping geopolitical dynamics. As emerging powers, BRICS nations wield significant influence on regional and global affairs. By advocating for a multipolar world order and reforming international institutions such as the United Nations (UN) and the International Monetary Fund (IMF), BRICS members seek to ensure that the voices of developing countries are heard and respected on the global stage.

(Photo by KCNA VIA KNS / AFP)

However, North Korea’s potential integration into BRICS raises complex questions about the compatibility of its authoritarian regime with the principles espoused by the alliance, including cooperation, democracy, and inclusive development. The motivations behind Pyongyang’s overture to BRICS remain subject to speculation, with analysts offering divergent interpretations. Some argue that North Korea views membership as a means to alleviate economic pressure and access alternative sources of financing amid international sanctions. Others see it as a strategic manoeuvre to diversify alliances and reduce reliance on traditional allies such as China.

The BRICS alliance has evolved into a significant geopolitical and economic force, attracting the interest of countries beyond its original five members. While Brazil, Russia, India, China, and South Africa form the core of the alliance, several other nations have joined and some have expressed interest in aligning themselves with this influential coalition.

One notable addition to the BRICS framework is Saudi Arabia. As the largest economy in the Middle East and a major player in global energy markets, Saudi Arabia’s inclusion in BRICS discussions reflects its desire to diversify its alliances and strengthen its position on the world stage. With the kingdom’s ambitious Vision 2030 agenda aiming to transform its economy and reduce dependence on oil, collaboration with BRICS nations offers opportunities for mutual investment, trade, and strategic cooperation.

North Korea’s traditional diplomatic posture, largely characterised by isolationism and defiance, the country has gradually begun to thaw its isolationist stance in recent years, evidenced by its engagements with some BRICS member states, like Russia and Iran. These countries, like North Korea, are subject to extensive international sanctions.

North Korea’s interest in joining BRICS also carries broader geopolitical implications, both regionally and globally. A potential alignment with emerging powers could reshape existing power dynamics in East Asia and beyond, potentially challenging the dominance of established players in the international arena.

North Korea’s bid to join BRICS underscores the intricate interplay between economics, geopolitics, and diplomacy in shaping international relations. While it represents a potential avenue for the country to assert itself on the global stage and mitigate the impact of sanctions, it also poses challenges and uncertainties for both North Korea and the broader international community.

(Photo by KCNA VIA KNS / AFP)

The outcome of North Korea’s engagement with BRICS remains uncertain, yet undoubtedly significant in shaping the future trajectory of regional and global affairs.

 

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Khaka Ngcofe
ByKhaka Ngcofe
Khaka is a dedicated professional with a passion for unravelling global complexities. She brings a unique perspective to journalistic endeavours. Her award-winning docie series on Human Trafficking received millions of views on Youtube.
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2 Comments
  • Pingback: Sri Lanka confirms its desire to join BRICS
  • GsQZrHcuWPlBOn says:
    July 16, 2024 at 6:26 pm

    bldxqIfzvDWOEcXM

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