The BRICS bank — an alternative that wasn’t

The article critically examines the BRICS bloc's long-standing promise to establish an alternative to the Western-dominated global financial order, specifically through institutions like a new bank (New Development Bank) and a reserve fund (Contingent Reserve Arrangement) to rival the World Bank and IMF, and to reduce the dominance of the U.S. dollar. It concludes that, despite the rhetoric, these ambitions have largely not materialized due to the BRICS countries' deep integration into the existing global financial system.