The Future Brics

The transformation of the BRIC acronym from an investment term into a household name of international politics and into a semi-institutionalized political outfit (called BRICS, with a capital ‘S’), is one of the defining developments in international politics in the past decades. While the concept is now commonly used in the general public debate and international media, there has not yet been a comprehensive and scholarly analysis of the history of the BRICS term. The BRICS and the Future of Global Order, Second Edition offers a definitive reference history of the BRICS as a term and as an institution—a chronological narrative and analytical account of the BRICS concept from its inception in 2001 to the political grouping it is today. In addition, it analyzes what the rise of powers like Brazil, Russia, India, China, and South Africa means for the future of global order. Will the BRICS countries seek to establish a parallel system with its own distinctive set of rules, institutions, and currencies of power, rejecting key tenets of liberal internationalism, are will they seek to embrace the rules and norms that define today’s Western-led order?

The Future BRICS provides in depth quantitative and qualitative questions and answers about the future of the BRICS Forum as a synergistic economic alliance and is a valuable resource for anyone interested in the ongoing international debate about the economic future and sustainability of the emerging markets in general.

In 2003, Goldman Sachs published a startling report on the BRICs (Brazil, Russia, India, and China) region: These four countries would be larger than the G6 economics within 40 years, muscling their way to economic dominance and powering past developed countries such as the United Kingdom, Germany, and Japan. This book focuses on the technology and technology-enabled services that underpin this revolution. The editor analyses the reasons why these four countries are in a unique position to lead a 21st century growth in international services. He then features 12 chapters written by the most important chief executives from the BRICs service economy.

In 2008, it appeared that the BRIC nations’ economies would continue to provide growth opportunities for businesses of all kinds. After a decade of unprecedented growth, however, Brazil, Russia, India, and China have unexpectedly slowed. In this innovative book, expert contributors diagnose and examine the factors that might be responsible for the changing trends in the BRIC and other emerging market economies and that may determine the future course of these economies and their prospects for sustained growth. This volume offers valuable insights into a wide range of issues pertaining to emerging economies that demand the attention of researchers and practitioners. In particular, contributors explore topics such as the importance of innovation, internationalization trends of emerging market firms, sustainability and social issues, market liberalization and entrepreneurship, consumer behavior and customer relations. Rigorous scholarly research, including empirical work, and perspectives from emerging markets make this an essential resource for doctoral students, business academics and executives, and politicians and policy makers involved in developing nations and their economies.

The book provides an assessment of BRICS cooperation, focusing on the new financing mechanisms created by the BRICS, the monetary fund and the development bank. It is shown that Brazil, Russia, India and China, joined later by South Africa, share common traits that led them to cooperate in the reform of the international financial architecture, especially the G20 and the IMF. After 2012, in light of the difficulty of having advanced countries agree to move from “tinkering at the margins” to fundamental reform of the Bretton Woods institutions, the BRICS decided to establish their own monetary fund, named the BRICS Contingent Reserve Arrangement (CRA), and their own development bank, named the New Development Bank (NDB). The book describes the difficult negotiations among the BRICS between 2012 and 2014. Some of these difficulties revealed the weaknesses that would lead the CRA and the NDB to make slow progress in the first years of their existence. The book provides an overview of the strong points and weaknesses of the initial phase of these financing mechanisms. It ends with a discussion of the future of the BRICS, highlighting that joint action by the five countries is likely to remain an important feature of the international landscape in the decades to come.

The book explains the rise of BRICS as a decisive group in the present world affairs. It emphasizes the significance of Russian and Chinese foreign policies concerning the BRICS group and how these two countries are using the group to promote their national interests. It also examines the causes of close association of Russia and China within the BRICS group. It illuminates the changing political dynamics of the world. This research contains the scope to unravel the strength of BRICS and Russia and China's foreign policy strategies. The study explains the change in global politics in post covid-19 international affairs. It analyses whether BRICS has the potential to play a decisive role in emerging international politics. The methodology adopted consists of three components: Quantitative method and Qualitative method along with a field trip to Russia to conduct surveys and interviews. The approach has been analytical and descriptive, and both primary and secondary sources have been consulted.

This is the first book to critically analyze the future of higher education systems in the four BRIC countries - Brazil, Russia, India and China - and the USA, analyzing academic salaries, contracts and working conditions and how national policy will affect the academic profession in each context.