Brazil

Washington’s ‘America First’ Global Strategy and Its Implications for the BRICS

The article explores America’s evolving policy towards BRICS in the context of the Trump administration’s new ‘America First’ global strategy. Even though the BRICS grouping has not become an anti-systemic or anti-liberal force, its attempts to form an alternative centre of global power has prompted the US to manage multipolarity. The Trump administration has continued America’s previous policies of hedging potential BRICS consolidation and enhancing its regional engagement in the era of sovereignty revivalism and deglobalisation.

Shifting Strategic Focus of BRICS and Great Power Competition

This article builds on extensive debates on the role of BRICS in world order. But instead of focusing on BRICS’ impact on the world order, the article takes a different methodological approach. It traces how much the evolution of BRICS’ rational was prompted by changes of the international system and Russia’s and China’s grand strategies. The key finding is that the BRICS does not determine major world developments, but acclimatizes to the evolving international situation.

Sixth BRICS Summit: A step towards more equitable global order?

The Declaration pushes for a more equitable norm and the New Development Bank is an interesting outcome. The initial subscribed capital of $50 billion dollars and the responsibilities of the functioning are to be shared equally among the founding members of the bank. While China will host the headquarters, the regional centre will be located in South Africa; similarly the first President of the Bank will be from India, the First Board of Governors from Russia and the first chair of Board of Directors from Brazil.

Future of Golden BRICS

With the successful holding of the fifth summit of Brazil, Russia, India, China and South Africa (BRICS) in Durban during March 26–27, 2013, this influential group of emerging economies completed its first important phase of genesis and evolution. The idea was floated in 2001 as an ‘acronym’ created by an investment banker of Goldman Sachs, Jim O'Neil who believed that the fast-growing economies of Brazil, Russia, China and India would be the single greatest game changers in coming times.