Mexico's Entry Into BRICS Would Be A Win-Win Scenario
Becoming a member of BRICS could assist Mexico in diversifying its economy helping it balance between the US with multipolar markets so as to lower the countries' reliance on the North American giant.
In early March, Wion interviewed South Africa's Foreign Minister — Chair of BRICS for 2023 — Naledi Pandor and asked her which states had recently solicited membership for BRICS and right then and there she confirmed Mexico was among the names being processed. As the second largest economy in South America after Brazil, Mexico is being considered for a partnership with the BRICS countries. The existing members must support the country's application for membership for it to be accepted. The article posits that Mexico's entry into the BRICS will be a win-win deal with global implications as it brings another one of the Big Eight nation-states nicely within the multipolar economic and political networks.
Mexico has applied to join BRICS, a network Bloc of Global South nations made up of Brazil, Russia, India, China, and South Africa. These actions taken by the giant Hispanic state have generated celebration from citizens of the Global South. The multilateral deals between these nations are strengthened by the economic bloc on a global scale, hence BRICS concentrates on creating opportunities and solutions in the political, financial, and economic realms.
There has been tons of speculation if and when Mexico would join the BRICS among other multipolar institutions, as it's a perfect fit for the prestigious Global South entourage of nations. Whilst Mexico is currently not a member of BRICS yet, the group is open to expansion and has confirmed it received the application from the giant Hispanic republic among other states such as South Korea, Indonesia, and Turkey that have also expressed interest in joining an authentic international nexus for coordination and cooperation. As the US has traditionally viewed Latin America as its sphere of influence Mexico's ascension into BRICS would exacerbate the global systemic transition towards multipolarity and multiplexity.
From NAFTA to NAFTA 2.0?
Mexico is a strategic partner of the United States and has a strong economic relationship with Canada as well. This is so because the Mexican republic is a member of the North American Free Trade Agreement NAFTA with the US and Canada which has allowed for a significant increase in trade and investment in the region. This makes the country an attractive market for BRICS countries looking to expand their economic reach beyond their borders. NAFTA is considered the neoliberal legacy of the Salinas de Gortari presidency (1988-1994) and has since been criticized by many politicians, economists, and activists since it was signed in the mid-90s with even AMLO, the current president, pushing for renegotiations of the agreement. Because of these disadvantages, the three countries that comprise NAFTA started renegotiating in August 2017 and completed the process in September 2018. The new agreement, known as the "United States-Mexico-Canada Agreement," formally replaced NAFTA in July 2020 but many observers believe nothing of substance was reformed and the entire process was geo-economic window dressing. Once Mexico enters the BRICS the future of NAFTA and trade and border relations with the United States – Mexico's biggest trading partner – will remain uncertain because of possible retaliation in the form of increased Hybrid War in all its manifestations be it economic warfare, info-war, lawfare, etc.
In addition, Mexico is a member of the Pacific Alliance which is a regional trade agreement that includes Chile, Colombia, and Peru, an agreement with great potential for foreign investment and for promoting economic regional integration. BRICS nations would surely benefit from working with the Pacific Alliance therefore Mexico would serve as a nexus between all those international agreements providing an opportunity for closer economic ties with the Global South markets. Mexico has also been a supporter of multilateralism and has advocated for the reform of international institutions such as the United Nations and the World Trade Organization this aligns with the goals of BRICS countries which have called for a more balanced Global governance system that reflects the interests of the Global South.
In recent years Mexico has increased its trade ties with the BRICS countries on an individual basis. The expansion of economic opportunities is one of the advantages as the combined GDP of the BRICS Nations exceeds 25 trillion dollars and Mexico would gain access to this sizable Market if it joined the organization. The Latin American country is already industrially robust, has significant natural resources, a strong manufacturing sector, and a growing middle class making it an attractive market for the BRICS countries to increase commerce. More over Mexico follows neutrality in world affairs and thus it has declined to impose economic sanctions on Russia, Venezuela and Cuba.
Since the United States is Mexico's biggest commercial partner and has long seen South America as its sphere of influence joining BRICS may also result in higher tensions with the U.S notwithstanding these difficulties a lot of observers of the region think Mexico's application to the BRICS is a move in the right direction for the nation. Mexico's major commercial partner, the United States will increase the Hybrid War pressure against Mexico, as it has done with other nations that broke away from the US Rules-Based Order as a result of a newfound membership or agreement within the multipolar/Global South environs. The inclusion of Mexico in BRICS will surely be interpreted as an enemy-at-the-gates scenario and a direct challenge to US supremacy in the region breaching the Monroe Doctrine. The US will engage in increased economic warfare in the form of sanctions, economic sabotage, Info-war, financial warfare, and currency manipulation, and possibly worsen the economic ties. Russia can especially aid Mexico in ramping up security while enhancing Democratic Security and also training Mexican personnel in counter Hybrid War tactics and strategies. Mexico would finally receive the help it requires to deal with the Mexican cartels which are partly operated by the US pentagon.
Mexico’s BRICS admittance request – which as stated earlier will most probably be approved – serves as further evidence of how the world’s economy is evolving with the emerging Big Eight economies shaping up to play a more significant role. All the while the old power structures controlled by the US and its EU vassals on the world stage are being questioned, thus Mexico would be most wise to embrace new coalitions and partnerships to seize the spirit of the multipolar age. Mexico will find it much easier to diversify its economy and political system to encourage foreign investment and economic growth within BRICS. Becoming a member of BRICS could assist Mexico in diversifying its economy and especially in helping it balance the US with major Global South economies which will lower the countries reliance on the North American giant.