BRICS: Opportunities and Challenges
Joe Thomas Karackattu
Archive data: Person was Associate Fellow at IDSA from August 2010 to August 2012 Joined IDSA August 2010 Expertise PRC’s foreign and economic policy; Democratization and economic development in Republic… Continue reading BRICS: Opportunities and Challenges read more
The BRICS (Brazil, Russia, India, China and South Africa) grouping signifies a welcome development. The member states, having rebounded well from the 2008-09 financial crisis, have shown that they are not just a marketing story but can offer a viable model of resilient growth despite not conforming fully with the “open market, complete trade liberalisation” recipe of the developed world. This Brief outlines the practical and ideational role that BRICS can play as a grouping, in reforming the global financial system and in the norm-setting processes in world politics. The Brief also discusses some challenges BRICS countries are facing to realise their goals in the short to medium term.
