On March 26, the leaders of Brazil, Russia, India, China and South Africa will gather in Durban, South Africa, for the BRICS grouping’s fifth summit. This collection of non-Western powers has cast itself as a new force in world affairs and a potential alternative to the global order that America and its European and Asian allies have traditionally supported. In reality, though, BRICS is less than the sum of its parts, and the real danger to today’s international order lies elsewhere.
The BRICS summit has an unusual origin story. The group’s membership reflects an acronym coined by Goldman Sachs economist Jim O’Neill (.pdf) in 2001. At the time, the “BRIC” acronym -- South Africa failed to make the cut -- lumped together four of the world’s fastest-growing large economies. What began as a term intended for investors was later borrowed by the four countries’ leaders to name their first quadrilateral gathering in 2009. With South Africa’s inclusion in 2011, BRICS was born. ...
To read the rest, sign up to try World Politics Review
- TWO WEEKS FREE.
- Cancel any time.
- After two weeks, just $11.99 monthly or $94.99/year.
Request a free trial for your office or school. Everyone at a given site can get access through our institutional subscriptions.
- In Power, Tunisia’s Secularists Must Now Tackle Islamic Militancy
- World Citizen: In Tunisia, Arab Spring Can Be Written Without Quotation Marks
- Can Afghanistan’s Ghani Avoid the Pitfalls of the Resource Curse?
- The Realist Prism: The International Order Faces a Fateful and Perilous Winter
- India Pursues Scandinavian Partnerships to Join Arctic Race