The BRICS alliance is increasingly formalized. Beyond the immediate economic benefits to its members, it is possible that in the long term, Russia and China may need to embrace more liberalization/democratic reforms, as imperatives to effectively play the "major country" role in an increasingly free world where investors feel safer to do business with countries promising reasonable measure of citizens' freedom and respect for the rights of minority groups. At the same time, the population in the U.S. and other liberal democracies increasingly admire the speed by which China is growing and would love to see increased state involvement to render development more result oriented and check the excesses of capitalism. Thus, a desire for the optimal mix of private participation and direct state involvement in the economy is growing globally. A fully developed BRICS alliance can serve as the melting pot for a healthy balancing of the liberal order (of the West) with state-led development (of the East).

Prof. Uwem Essia is an economist with many years of teaching, research, and consulting experience in economics, the management sciences, and related human development fields.

Christian lambang Fonye is currently a Senior Fellow on Minority Rights, Indigenous Peoples, and Intersectionality with the Pacific Regional Office of the United Nations High Commissioner for Human Rights. Christian holds an MSc degree in Peace, Conflict, and International Relations alongside other specialized certificates.