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BRICS-Plus
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BRICS-Plus

Alternative Globalization in the Making?

Valdai Discussion Club
World Economic Forum, 2018
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8

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Recommendation

Rising protectionism in the developed world has some nations focusing on their own self-interests at the expense of global trade integration. In contrast, Brazil, Russia, India, China and South Africa (BRICS) are shaping a new framework that forms overlapping circles of trade alliances with other developing countries. This intriguing article from the Russian think tank Valdai Group advocates for a “BRICS-plus” initiative, though it largely overlooks the enormous difficulties in confederating non-BRICS countries with potentially conflicting goals. Nonetheless, getAbstract recommends it to anyone interested in a different approach to globalization.

Summary

Some developed countries are becoming increasingly strident about reining in free trade. Contrarily, the BRICS nations – Brazil, Russia, India, China and South Africa – are re-energizing regional integration and expanding global alliances with initiatives such as China’s One Belt, One Road program and its Asian Infrastructure Investment Bank. And China is leading a transformation of the BRICS infrastructure beyond the original group into a “BRICS+ circle.” 

This effort aims to integrate, into a larger matrix, new and existing ...

About the Author

The Valdai Discussion Club is a Moscow-based think tank.

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