Online published on 10 February, 2014.
The rise of BRICS as an association of large and influential “new powers” attracts both scepticism and hope. It embodies an alternative to global Western hegemony under the aegis of the US and reflects the rapid transition in the international hierarchy engineered by the process of globalised interdependence and the resulting economic and financial crises. However, the potential of BRICS to become the new collective hegemon may be undermined by the very nature of the enduring international regime and by contradictions and rivalries between its members. This paper advocates a joint BRICS strategy for a more stable and decentralised pluralistic global system.
