As countries across the Global South explore deeper engagement with the BRICS+ forum, Latin American nations, beyond Brazil as a founding member, must navigate a complex geopolitical landscape that often forces them to choose between alignment with the US or China.
In this webinar, chaired by Professor Gregory T. Chin, Professor Cintia Quiliconi examined the motivations behind Latin American engagement with the BRICS forum. She analysed the risks involved, the broader implications of escalating US-China tensions, and how governments in the region are navigating economic opportunities within an increasingly competitive global environment. She also briefly addressed the role of the New Development Bank (NDB), often referred to as the BRICS Bank, in this evolving landscape.
Responding to the presentation, Professor Alvaro Méndez highlighted the growing role of new multilateral development banks in Latin America, particularly the NDB and the Asian Infrastructure Investment Bank (AIIB). He argued that these institutions should not be seen as alternatives to Bretton Woods organisations, but rather as complementary actors working in co-operation to address the region’s deep infrastructure needs. The NDB, for example, has signed Memoranda of Understanding with the Inter-American Development Bank (IDB), the World Bank, and regional development banks such as CAF, the Development Bank of Latin America and the Caribbean.
The discussion highlighted the need for Latin American countries to articulate clear foreign policy agendas with well-defined priorities, particularly in relation to China’s Belt and Road Initiative (BRI). Colombia’s recent engagement with China was noted as lacking direction and coherence, with the relationship appearing more reactive than based on a long-term vision. By contrast, Brazil and Uruguay were identified as countries with more coherent and strategic approaches to foreign policy-making.
Importantly, participants emphasised that countries in Latin America and across the Global South more broadly should not myopically assume that all roads lead to either Beijing or Washington. Instead, they must work towards developing autonomous and forward-looking foreign policies that reflect their own long-term national interests.
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