Growing Multipolarity in The Globalized World: The Political Economy of The Brics

Abstract

The BRICS, the acronym for Brazil, Russia, India, China and South Africa, currently encompass 40 % of global population and about 23% of global GDP. They are deeply engaged in the global economic and political system, and this system is transformed by the forces of globalization into an increasingly multipolar character especially in economic activities. The aim of this thesis is to analyze the implications of the rise of the BRICS countries as economic and political players and of their cooperation on the global governance and multipolar world order. Accordingly, the current stage of their cooperation is examined to find out whether the group seeks to overthrow fundamental nature of the existing order to create more democratic, inclusive and multipolar world order. To this end, by taking into account both material and ideational aspects, this thesis analyzes current global configurations from the perspective of the emerging powers, the factors underlying the evolution of the group from a financial category to a cross-regional multilateral group, their organizational structure and agenda, their socio-economic profiles and soft influences of the members, and intra-BRICS cooperation with limits and potentials.