It isn't economically or "geopolitically" significant, and it's not likely it will be, but it being praised/shilled/etc. by the Western right represents a serious defect in /ourguys/ (or a successful op against us).
BRICS has a website full of position papers: the BRICS Policy Center. Most of its releases are available in English. Show of hands if you've read one. Nobody? OK, have any of you ever seen one quoted anywhere, by any of our "nazi" pals? You haven't? Hm.
Well, spoiler for the organization's whole oeuvre: It's so thoroughly "woke," so openly anti-white, Noel Ignatiev should come back from the dead and tell them to calm the fuck down. You couldn't Sokal Hoax that shit into any American academic journal, because it's too stupidly parodic.
BRICS is not an enemy of but a stupid true-believer rival to globohomo.
"What do you think decolonization means?"