BRICS in International Order

“Current Development and its Impact on World


Politics: With Reference to BRICS, SCO, and Indo-


Pacific”








Topic: Way towards greater co-operation: A study


on BRICS in International Order

















Lakhman Kumar

Introduction :


After the collapse of USSR, the world politics became unipolar dominated by USA.

In most cases USA started to create new proxy colonial rules in most of the


developing countries. To prevent west dominance system and bring equilibrium

to the world, a new socio-economic forum has to be developed. In this

perspective, BRICS may have the chance to play a vital role. The rapid rise of

Brazil, Russia, India, China and South Africa on the international stage have

shifted the power dynamics of International World Order. The New Development


Bank (NDB) and the Contingent Reserve Arrangement (CRA) are the milestones of

cooperation among emerging economies and developing countries. This makes

important to understand the role of BRICS as an important platform in the

International Order.







Discussion :



Origin & Evolution of BRICS : BRICS has significantly evolved in the International

Order and now it creates its own structure in global governance. The grouping

was originally known as ‘BRIC” before the inclusion of South Africa in 2010. The

idea of uniting the worlds largest developing economics under the term


‘BRIC’(Brazil, Russia, India and China) belongs to Jim O’ Neill, a well known analyst

in the field of global economic research from the leading US investment bank

Goldman Sachs. In 2001, Jim O’ Neill wrote an article ‘Building Better Global

Economic BRICs’, in which he introduced a grouping acronym ‘BRIC’.

The first BRIC Foreign Ministers’ Meeting was held in 2006 between

Brazil. Russia, India and China. The member states formalised BRIC as an

institutional body with the first summit of the BRIC leaders held on 16 June 2009

in Yekateringburg, Russia and in 2010, it became a formal institution. While in

2010 with the inclusion of South Africa the acronym expanded to BRICS including


Brazil, Russia, India, China and South Africa. Since 2009, the summit has become

an annual event and it strengthen the institutional framework of BRICS. Apart

from leaders summit, BRICS foreign ministers, finance ministers, educational

ministers, health ministers, science, innovation and technology ministers also

hold interactions at various times. Till date, ten BRICS summits have taken place;-


Yekateringburg summit, Russia (16 June 2009), Brasilia summit, Brazil (15 August

2010), Sanya summit, China (14 April 2011), New Delhi summit, India (29 March

2012), Durban summit, South Africa (26-27 March 2013), Fortaleza summit,

Brazil(14-27 July 2014), Ufa summit, Russia (8-9 July 2015), Benauliam(Goa)

summit, India (15-16 Oct 2016), Xiamen summit, China (3-5 September 2017) and


Johannesburg summit, South Africa(25-27 July 2018).


th
The latest BRICS summit(10 summit) was held in Johannesburg,
South Africa from 25-27 July 2018; wherein the head of the all five BRICS nations

met under the theme “ BRICS in Africa : Collaboration for inclusive growth and


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shared prosperity in the 4 Industrial Revolution”. The summit saw the BRICS
leaders come together and discuss various international and regional issues of

common concern and adopted ‘Johannesburg Declaration’ by consensus. The

declaration reaffirms the principles of democracy, inclusiveness and agrees to

fight unilateralism and protectionism. This indicates the expansion of institutional

framework and functionaries of BRICS and makes it more significant.






With ten years of development, BRICS has expanded its vision and

has grown into an important platform for cooperation among emerging markets


and developing countries. The most significant output has been reached in terms

of the New Development bank and the Contingent Reserve Arrangement. BRICS

has expanded into areas such as agriculture, science and technology, outer space,

think tank, social welfare, finance, trade, health, terrorism, communication and

other global issues.







Objectives of BRICS :



Despite diverse national interest BRICS members have common goal and

objectives and this makes BRICS an institution that at least challenges the

Western hegemony. The similar objectives shared by BRICS countries are as

follows;-







1. To achieve regional cooperation.

2. The group act as a bridge between developed and developing countries. In


WTO,

BRICS countries are trying to promote a fair order regarding agricultural

policies.

3. The group is a south-south framework of cooperation.

4. The NDB, the financial institution created by BRICS will reduce the

importance of global financial institution like World Bank and IMF


dominated by USA and western countries.

5. The BRICS Bank ‘NDB” will provide resources for infrastructure

development of developing countries.

6. The BRICS group will also play a importance role in assisting developing

countries in gaining advantage in trade and on issues related to export of


manufacturing products.





Disparities within BRICS :



BRICS countries are very different both in terms of their resources and values and

goal. Some points of disparities are as follows;-


1. The dominance of China in BRICS is problem for other. The Chinese


economy is now not only the second largest economy in the world but also

larger than the economies of all the BRICS together.

2. The BRICS have little in common. The Chinese economy is 28 times larger

than the size of South Africa; income per person in India is one-tenth that in

Russia.


3. China and Russia are permanent members of UN security council, the

others are not.

4. Brazil, India and South Africa are democratic countries while in Russia and

China authoritarian regimes.

5. The structure of financial system, level of income, education, health

challenges are differ within BRICS.

6. There are growing economic and political contradiction among the


countries. It is well-known about the problems between India and China

have endured.






Role of BRICS in International Order :


Though each countries has distinctive economic and political character, BRICS as a

heterogeneous economic group have a strong political and economic voice in the

International Order. BRICS has been able to provide an alternative platform to the


West dominated International Order. It has evolved to be an alternative to World

Bank and IMF to challenge US supremacy. The creation of the NDB and the CRA

are to be a direct challenge to the existing development bank i.e. World Bank and

IMF. So far, the NDB has initiated funding $3.4 billion at the end of 2017 to

member countries.



BRICS represents five most emerging economies of the world. BRICS

now accounts for 23% of global GDP and almost 50% of the world total

population. In 2017, the nominal GDP of China, India, Brazil, Russia and South

Africa was 11.94, 2.44, 2.1, 1.47 and 0.34 respectively(in trillions of dollars). BRICS


has been the most successful as an economic grouping. The NDB has provided

resources for infrastructure development of the developing countries. The

emergence of such institutions will very likely after the hegemonic influence of

the US over development finance.

BRICS can challenge US dollar in a joint venture. In today

international business scenario US diplomacy and US dollar playing a pivotal role.

To prevent US dominance BRICS can do a lot. A Euro like currency or monetary


system can be developed collectively by the BRICS nations. In this context, Russia,

China and Turkey have been developing gold treasure to challenge US dollar. This

can be a pathway for the BRICS also.



To get rid of US sanctions on Russia, China, India and other nations

in international trade and defence deals, BRICS nations can do a lot. All the BRICS

countries should solve their disputes to create a greater diplomatic and business

opportunity in the world trade. By creating an alternative trade system BRICS can

get rid of the burden of US sanctions.






Over the past ten years, the BRICS partners have launched a number

of initiatives to the economic and global world. The BRICS meetings provide a


unique forum where the leaders can discuss global challenges and coordinate

their actions within and outside global institutions. Xiamen summit demonstrates

how working together is important for BRICS members. Despite the Doklam

Skirmish between India and China the members of the BRICS realised the

importance of the Xiamen Summit (2017).







Conclusion :



In the concluding remarks, it can be stated that BRICS as a group has evolved

gradually into an important coalition in the multi-polar international order. It, as a

coalition of emerging economies is now challenging the western dominated order

and hence provide an alternative idea of global governance. This five leading

powers could create a world order that will be more just and balanced. The


member countries should coordinate their policies and economic strategies and

should offer the world an alternative model of socio-economic development.






References :





• Kumar, S.(2017) “International Relation”, R.P. Publication, New Delhi.





• Jash, A. “The Emerging Role of BRICS in the Changing World Order”,


Indrastra Global Vol. 003, Issue No: 06(2017) 0054, ISSN 2381-3652.





• The Role of BRICS in the Developing World https://www.ecologic.eu/4738






www.eastasiaforum.org/2016/09/03/the-role-of-brics-in-global-governance/







https://www.careerride.com/view/brics-objectives-summits-need-and-
disparities-19744.aspx