I think it provides an opening for an alternative new power in the world economy. But I think it’s still too early to see if the BRICS model will emerge as a competitor. The accumulated wealth of the American-led world economy is much more substantial and that alone has a great deal of inertia.
Their appeal grows as America and Europe erode related to inflation. Most importantly, they aren't participating in the economic suicide that is green energy. They will be energy independent.