The BRICS and the Future of Global Order

The transformation of the BRIC acronym from an investment term into a household name of international politics and, more recently, into a semi-institutionalized political outfit (called BRICS, with a capital ‘S’), is one of the defining developments in international politics in the past decade. 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 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?

Table of Contents:
Chapter 1: Capturing the Spirit of a Decade (2001-2006) Chapter 2: The Financial Crisis, Contested Legitimacy and the Genesis of Intra-BRICS Cooperation (2006-2008) Chapter 3: From Yekaterinburg to Brasília: The New Epicenter of World Politics? (2009-2010) Chapter 4: Enter South Africa: From BRICS to BRICS (2011) Chapter 5: The Hidden World of Intra-BRICS Cooperation: Does Regime Type Matter? Chapter 6: Delhi, Durban And Fortaleza: The BRICS Bank and The Contingency Reserve Arrangement (2012-2014) Chapter 7: The BRICS in the UNSC: The Case Of R2P Chapter 8: The BRICS Grouping and the Future of Global Order Appendix 1: High-Level Summits Appendix 2: Timeline of Events

About the Author :
Oliver Stuenkel is assistant professor of international relations at the Getúlio Vargas Foundation (FGV) in São Paulo, where he coordinates the São Paulo branch of the School of History and Social Science (CPDOC) and the executive program in international relations.

Review :
Stuenkel provides a detailed chronology of the concept of the BRICS from when BRIC was first coined by Goldman Sachs as a financial concept in 2001 to its status today as a political and economic institution. Stuenkel’s book specifically sets out to examine what impact these rising powers will have on global affairs. As his book demonstrates, despite different regime types, intra-BRICS cooperation has begun to occur on social and economic issues, such as development, finance, and health. A larger, looming question underlying this book is whether the BRICS represent a threat to the current global order by attempting to create an alternative paradigm. The final three chapters are quite informative and serve as a springboard for future research on intra-BRICS cooperation. These chapters note the successes, such as the creation of the New Development Bank and the Contingency Reserve Agreement, but stress the potential challenges for continued intra-BRICS cooperation. Stuenkel concludes that BRICS actions demonstrate a desire to widen the playing field to be more democratic rather than creating a new global order. This book is a must read for anyone interested in the BRICS and is highly recommended for undergraduate, graduate students, and faculty. Summing Up: Highly recommended. All readership levels. There is an admirable amount of research in this work. . . .It is a very valuable guide to the BRICS as an international actor, and indeed is the most informative account that I have read. Overall this is a book that focuses on the BRICS’ internal dynamics, analysing the several moments that led to the construction of the bloc. It is ‘a critical “historical biography” of the BRICS concept’ (p. ix), making it suitable for a wider audience and satisfying both the needs of experienced researchers and readers in general. The role and importance of the so-called BRICS has been hotly debated for a decade, but it has not been studied in a systematic way until now. Oliver Stuenkel’s balanced and richly detailed work demonstrates that the BRICS are neither a coherent coalition seeking to overturn the global balance of power nor a passing fad of little importance. Instead, his analysis shows that cooperation among the BRICS seeks to foster the gradual emergence of a legitimate and rule-based multipolar order, and to press the United States and its allies to follow existing global rules more consistently. This nuanced and clearly-written book offers an illuminating glimpse into the future of global politics. This is the best book on BRICS written to date. It brilliantly analyzes the origins of the group, the nature and scope of intra-BRICS cooperation, and its impact on world order. It is required reading for anyone interested in the emerging trends in world politics.