This July, leaders from across the globe will converge on Rio de Janeiro for what may be the most consequential BRICS summit to date. The stakes are high and the implications global. What was once a modest economic club of emerging nations has transformed into a powerful bloc capable of redefining global power structures. And with a growing list of countries formally applying to join BRICS–and even more expressing interest–it’s clear the world is no longer content to revolve around Washington, Brussels, or London.