What are the implications of the recent emergence of China and other non-Western economies? In the early 21st century, five rising or resurgent powers (Brazil, Russia, India, China, and South Africa) formed an exclusive international club: the BRICS. The BRICS perceive an ongoing global power shift and contest the West’s pretensions to permanent stewardship of the world economic order. Despite their diversity, the BRICS cooperate to realize joint goals, including greater influence within the International Monetary Fund and World Bank, and the development of “outside options” to create new multilateral institutions and opportunities in international financial markets. The analysis reveals their common aversion to being targets of financial sanctions and subject to U.S. dominance of the global financial system and their attempts to gain greater financial autonomy and a larger role for China’s currency in world markets. Although each member has unique motivations for collaboration, China controls resources that permit it the greatest influence in intra-club decision-making and with the United States and other incumbent rule-makers. The BRICS future depends not only on their bargaining power and adjustment to markets, but also on their ability to overcome domestic impediments to sustainable economic growth, the basis for their international influence.
With Cynthia Roberts,Author
Research Scholar, Arnold A. Saltzman Institute of War and Peace Studies,
& Associate Professor of Political Science, Hunter College, City University of New York
Commentary by Christian Deseglise
Co-Director of BRICLab, Columbia University
Moderated by Jack Snyder
Robert and Renee Belfer Professor of International Relations, Columbia University,
& Member, Arnold A. Saltzman Institute of War and Peace Studies
Thursday, March 29, 2018
12:15 p.m. -2:00 p.m.
1219 International Affairs
School of International and Public Affairs
420 West 118thStreet
New York City
Seating is limited – Advance registration suggested via the Columbia/SIPA calendars
