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Is BRICS Capable of Filling the Vacuum in Global Governance?

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Global Governance in Transformation

Abstract

Global governance is widely acknowledged to have been in deepening crisis ever since the 2008 global financial meltdown. This chapter investigates the question of whether new international institutions such as BRICS fit into and complement the new order. Second, this article will attempt to address whether the BRICS agenda is developed enough to respond to the challenges of the more decentralised international system that is currently developing.

The chapter addresses three questions. First, do the BRICS countries share the same vision of multipolarity so as to collaborate in the international arena in promoting the new reformed order? Second, is BRICS institutionalised sufficiently, compared to similar clubs, to be capable of carrying out its functions effectively? Third, has the BRICS agenda evolved into something universal and broad enough to be relevant to other participants in the international system?

The arguments presented in this chapter demonstrate that BRICS seems to be on a par with its peers in terms of its economic, financial and security policies. It has developed a significant degree of institutionalisation to structure these policies, and its member countries share common ideologies and values.

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Acknowledgements

Maxim Bratersky would like to acknowledge gratefully that his chapter was supported by the Russian Foundation for Basic Research (grant number 19-014-00038) on ‘Security Architecture in Greater Eurasia: Conditions, Perspectives, and Opportunities for Russia’.

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  1. National Research University Higher School of Economics, Moscow, Russia

    Maxim Bratersky

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  1. Maxim Bratersky
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Correspondence to Maxim Bratersky .

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  1. School of World Economy, National Research University Higher School of Economics, Moscow, Russia

    Leonid Grigoryev

  2. School of Politics and International Relations, University of Kent, Canterbury, UK

    Adrian Pabst

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Bratersky, M. (2020). Is BRICS Capable of Filling the Vacuum in Global Governance?. In: Grigoryev, L., Pabst, A. (eds) Global Governance in Transformation. Springer, Cham. https://doi.org/10.1007/978-3-030-23092-0_9

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