Senior Goldman Sachs economist Jim O’Neill predicted in 2001 that the combined economies of Brazil, Russia, India and China will overtake those of the US and the G-7 countries by mid-century. Seven years after the global financial crisis, the “prophecy” became true.

A few years ago, the BRICS group announced from Russia the establishment of a global system to face Western dominance. Since then, the group has been on a common economic/political path amid external...